| Oridion Achieved Revenue Growth of above 18% in 2011 |
| 10.01.12 20:17 | |
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Jerusalem/Needham – January 10, 2012 – Oridion Systems Ltd. (SIX Swiss Exchange: ORIDN), the creator of the Integrated Pulmonary Index™, one of the Smart Capnography™ family of decision-support solutions, today announced that it achieved (un-audited) revenues of USD 64.2 million in fiscal year 2011, representing an annual growth rate of 18.5%. Oridion announced that it has achieved preliminary (un-audited) revenues of USD 64.2 million for fiscal year 2011, representing a growth rate of 18.5% over 2010. The Company experienced strong continuing demand from the market for its capnography devices as well as for its patient-interface consumables. Alan Adler, Chairman and CEO of Oridion comments: “We are pleased with our strong growth in 2011 and expect increased demand for our products to continue in 2012. The company has been the subject of an import alert from the FDA, which has led to a temporary cessation of the import of Oridion products into the U.S. We have had recent contacts with the FDA and have had a substantive and open exchange regarding the corrective action programs that we have undertaken to deal with the issues identified by the FDA in our purchasing controls. We expect to hear back from the FDA within the next two weeks regarding the import alert and how to reach a resolution of this situation as soon as possible. We will provide additional information to the public at that time.” Oridion will issue guidance regarding its fiscal year 2012 when it publishes full details of its Financial Statements and 2011 Annual Report on February 27, 2012. |
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