Stock Update (NASDAQ:EDAP): Edap Tms SA (ADR) Reports First Quarter 2015 Results

Edap Tms SA (ADR) (NASDAQ:EDAP), the global leader in therapeutic ultrasound, today announced financial results for the first quarter ended March 31, 2015 and provided an update on recent strategic developments.

Marc Oczachowski, EDAP’s Chief Executive Officer, stated, “This quarter is in line with our normal business cycle, while Q1 2014 was an exceptional one for the Company with five HIFU systems sold. More specifically, our results in the first quarter of 2015 reflect the continued momentum in HIFU treatments, as we achieved a 17% year-over-year increase in procedure-driven revenue from the HIFU division. This positive trend confirms the increasing adoption of HIFU among urologists and a growing appreciation of the technology as a safe and effective therapeutic option for prostate cancer patients.”

Mr. Oczachowski added, “We are pleased to announce that, as planned, we submitted our Direct De Novo 510(k) petition for Ablatherm HIFU to the FDA after the close of the first quarter, and look forward to moving ahead with the review process.”

Total revenue in the HIFU business for the quarter was EUR 1.6 million (USD 1.8 million). HIFU revenue included the sale of one Focal One system in Canada.

For the three months ended March 31, 2015, total revenue for the Lithotripsy division was EUR 4.6 million (USD 5.1 million), compared to EUR 4.5 million (USD 6.1 million), during the year ago period.

Gross profit for the first quarter 2015 was EUR 2.6 million (USD 2.9 million), compared to EUR 3.6 million (USD 4.9 million) for the year ago period. Gross profit margin on net sales was 41.5% in the first quarter of 2015, compared to 45.9% in the year ago period.

Operating expenses were EUR 3.2 million (USD 3.5 million) for the first quarter 2015, compared to EUR 3.0 million (USD 4.1 million) for the same period in 2014.

Operating loss for the first quarter was EUR 622,000 (USD 689,000), compared with operating income in the first quarter of 2014 of EUR 558,000 (USD 765,000).

Net loss for the first quarter 2015 was EUR 2.4 million (USD 2.7 million), or EUR 0.10 per diluted share, as compared to net income of EUR 840,000 (USD 1.1 million), or EUR 0.04 per diluted share, in the year ago period. Net loss in the first quarter 2015 included a non-cash interest expense of EUR 2.4 million to adjust the accounting fair value of the outstanding warrants. (Original Source)

Shares of EDAP closed today at $2.90, up $0.04 or 1.40%. EDAP has a 1-year high of $6.05 and a 1-year low of $1.15. The stock’s 50-day moving average is $3.31 and its 200-day moving average is $2.84.

On the ratings front, H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on EDAP, with a price target of $4.50, in a report issued on April 6. The current price target implies an upside of 55.2% from current levels. According to, Ramakanth has a total average return of 2.8%, a 30.0% success rate, and is ranked #1828 out of 3599 analysts.

Edap TMS SA is a holding company. The Company through its divisionsHIFU and UDS,develops, produces and markets minimally invasive medical devices for urological diseases. Its divisionsoperate in Europe, the Americas, Asia and the rest of the world.

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