Oridion: Revenues of USD 64.5 million (19.0% growth over 2010)
26.01.12 06:59

 

Oridion Preliminary Financial Results for 2011

Jerusalem/Needham – January 26, 2012 –
Oridion Systems Ltd. (SIX Swiss Exchange: ORIDN), the creator of the Integrated Pulmonary IndexTM, one of the Smart CapnographyTM family of decision-support solutions, today announced preliminary unaudited financial results for fiscal year 2011. The Company achieved revenues of approximately USD 64.5 million (19.0% growth over 2010) and operating income of approximately USD 6.7 million (10.4% operating margin).

Oridion announced today additional preliminary unaudited financial results for fiscal year 2011. Revenues came to approximately USD 64.5 million, slightly higher than the first indication that the Company published on January 10, 2012. Revenue growth in 2011 was approximately 19.0% over the previous year period.

The operating income results include a reserve of approximately USD 1 million for inventory produced by a consumables subcontractor in Israel whose supply relationship was terminated by Oridion in the 4th quarter as a consequence of the FDA-related issues previously reported in October and November of last year. The results also include a one-time USD 0.5 million increase in transport costs of consumables during the 4th quarter, primarily in emergency air transport rather than the normal shipping by sea, which is directly related to the FDA issues as well.

These one-time cost items will be charged to the income statement for fiscal year 2011. Oridion’s unaudited operating income for 2011 will be at approximately USD 6.7 million, representing operating margin of 10.4%. Excluding these non-recurring cost items, operating income would have reached approximately USD 8.2 million or 12.7% of operating margin.

Oridion will publish further details of its Financial Statements and the 2011 Annual Report on February 27, 2012.

 
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