SomnoMed Breaks Records in 4th Quarter

SomnoMed Limited (ASX: SOM) has once again announced record unit sales for the fourth quarter to June 2011. Continued growth in SomnoDent® sales volumes in the June quarter by 32% over the same period last year was reflected in the 7,323 units sold.

This result has been driven by record sales in all global regions. The USA and European regions both grew 27% and 69% respectively over the same quarter last year. The APAC region has shown 17% growth over QTR 3, with record sales in the June month bringing total revenues for SomnoMed in the fourth quarter to $3.3 million. The new US office, now based in Dallas-Frisco, Texas, achieved record sales in the June month, with the European region doing the same.

SomnoMed’s CEO Mr. Ralf Barschow commented, “The results achieved in this quarter re-affirm our ability to grow unit sales and revenues of the business, particularly within the US and Europe, which are above average within the Sleep Disordered Breathing industry. The record sales achieved in June for all regions were very encouraging, especially on the back of a very successful SLEEP 2011 congress in Minneapolis attended by SomnoMed.”

From a global perspective SomnoMed controls direct operations in three global regions. Following the strong growth in Europe, SomnoMed is expanding its business activities, with new offices to be opened in France and Germany, as well as adding new personnel to our European headquarters in Zurich, Switzerland. SomnoMed Nordic is moving into new facilities in Stockholm, with a wider scope of clinical training and technical services. In Israel an exclusive distribution agreement with SleepDent Limited has been signed, covering all major sleep centers and hospitals in that country.

“I am very proud for SomnoMed to have formed the exclusive partnership with SleepDent Limited in Israel. After an extensive clinical trial for over a year involving patients not tolerating a CPAP treatment, the results once again have shown the clinical effectiveness of a SomnoDent® therapy in mild, moderate and severe cases,” said Mr. Barschow.

Mr. Barschow added, “We continue to establish our global presence in all regions relevant for a SomnoDent® therapy. With more than 70,000 clinically documented treatments, SomnoDent® is clearly recognized and unrivalled as the world’s no.1 oral appliance for obstructive sleep apnea.”

SomnoMed Limited had $3.95 million in cash available at 30 June 2011

Originally published Sydney, Australia (PRWEB) July 28, 2011

Related Posts