Given's net profit leaps 47% to $7.9M - Israel Business, Ynetnews
 
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Given Imaging President and CEO Homi Shamir
Given Imaging President and CEO Homi Shamir 
 
 

Given's net profit leaps 47% to $7.9M

Capsule endoscopy technology developer's Q3 revenues nearly unchanged at $45.5 million. Calcalist reported recently that company is in acquisition talks with Japanese Fuji

Shay Salinas, Calcalist
Published: 11.08.12, 06:59 / Israel Business

Given Imaging, which develops capsule endoscopy technology, posted its third quarter results on Tuesday night, reporting revenue and net profit gains against the backdrop of acquisition negotiations with Japanese Fuji.  

 

Calcalist Exclusive
Fuji in talks to buy Given Imaging  / Golan Hazani, Calcalist
Medical technology company’s owner, Nochi Dankner, seeks deal based on $1 billion market cap, but will likely have to settle for $750 million
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Net profits for the quarter were $7.9 million as compared with $5.3 million for the same period last year; revenues amounted to $45.4 million for the quarter as compared with $44.7 million for the third quarter of 2011.

 

The company sold 58,200 PillCam SB capsules in the third quarter, as compared with 58,900 in the third quarter of 2011. It sold 35,000 capsules in the United States as compared with 34,800 in the same quarter last year.

 

In addition, Given Imaging repeated its 2012 forecast and projects $180-$200 million in earnings with a 70-80 cent profit per share.

 

Several days ago, Given Imaging announced it was considering an acquisition offer. Calcalist reported that the leading candidate for the acquisition was Japanese Fuji.

 

The deal reflects a $750 million value for Given, which is a 34% premium over the company's value on NASDAQ.

 

This report was originally published in Hebrew by Calcalist

 

 

 

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