-Shipments Up 78%, Revenue Up 21% Year-Over-Year-
-FDA Registration Trial to Begin Soon-
Report is Available for Download at: www.lifesciadvisors.com/clients/inspiremd
Last Tuesday morning, InspireMD, Inc. (OTC BB: NSPR) issued a press release announcing year-end financial results for 2011. MGuard shipments and revenue continue to increase year-over-year and the Company has doubled production to meet demand. The randomized MASTER Trial is progressing well and we expect the FDA registration trial to commence soon.
MGuard Distribution Expanded Into South Africa, India and Russia and InspireMD Doubled MGuard Production Levels. For the year ended December 31, 2011, InspireMD significantly expanded the international presence of MGuard. Notably, the Company introduced MGuard to South Africa, India and Russia through external distributors. Currently, the Company is selling MGuard through distributors in over 30 countries around the globe. In parallel with this increased distribution, InspireMD has been actively working to increase production levels to meet the ongoing increase in demand in shipments. Per the release, InspireMD has doubled MGuard production levels year-over-year.
Shipments Up 78% and Revenue Up 21% Year-Over-Year. For the year, shipments increased 78% and revenue increased 21% to $6.0MM from $4.9MM the year before. Accordingly, gross profit increased to 49.9% ($3.0MM), up 4.4% from 45.5% ($2.3MM) in 2010. Total operating expenses almost tripled to $16.7MM due to increase share-based compensation and R&D expenditures for the MASTER and FDA trials.