WKN 912376
Zahlen ÜBER Erwartungen!
Marktkap. 7Mill. $, Cash 12,5Mill. $
Kaufen bis 35cent!
Symphonix Devices, Inc. Announces Q4 2001 and Year-End Financial Results
SAN JOSE, Calif., Jan 30, 2002 /PRNewswire-FirstCall via COMTEX/ --
Symphonix(R) Devices, Inc. (Nasdaq: SMPX) today reported a net loss of $3.0
million, or $0.09 per share, for the fourth quarter ended December 31, 2001,
compared to $3.8 million, or $0.11 per share, for the third quarter of 2001 and
$4.7 million, or $0.26 per share, in the fourth quarter of 2000. Net loss for
the year ended December 31, 2001 was $16.7 million, or $0.60 per share, compared
to $17.2 million, or $1.18 per share, for the year ended December 31, 2000.
Revenue for the quarter was $0.5 million compared to $0.5 million in the third
quarter of 2001 and $0.5 million in the fourth quarter of 2000. Revenue for the
year ended December 31, 2001 was $2.0 million compared to $1.2 million in the
year ended December 31, 2000.
In 2001, Symphonix focused on expanding its patient referral network by
introducing its implantable middle ear hearing device, the Vibrant(R)
Soundbridge(TM), to U.S. audiologists. The company implemented a number of
initiatives aimed at reaching this influential group of hearing healthcare
professionals, including a conference series at the annual meeting of the
American Academy of Audiology and a program of local educational forums
presented in collaboration with Siemens, a world leader in hearing instruments.
"We're focused on educating audiologists about how the Vibrant Soundbridge can
be an integral part of their practice-building strategies and an enhancement to
patient care," said Kirk Davis, Symphonix' president and chief executive
officer. "We're pleased with the progress we've made thus far and will work to
build on these successes in 2002."
In support of its growing referral network, Symphonix has appointed John Luna as
director of sales. Luna brings nine years of sales experience in the hearing
device industry and key audiology sales relationships to the company. Prior to
joining Symphonix, Luna was the western division sales manager for Sonic
Innovations, a leading producer of advanced digital hearing aids. He served
previously as the western division sales manager for GN ReSound Corporation,
where he was instrumental to the launch of ReSound's first-generation digital
hearing aid, which helped transform the hearing instrument market from an analog
to a digital platform.
"With his deep expertise in hearing device sales, John will be an invaluable
addition to our current sales team," said Dennis Roy, vice president of sales
and marketing at Symphonix. "His immediate focus will be to follow up on our
educational outreach efforts, translating audiologists' growing awareness of the
Vibrant Soundbridge into revenues for the company."
In late 2001, a number of Vibrant Soundbridge patients were able to obtain
reimbursement for the device, related surgical costs and follow-up care from
their private insurers. To help make the breakthrough hearing treatment
available to more of the millions of Americans who could benefit from it,
Symphonix has instituted a program to explore additional avenues for
reimbursement across the spectrum of payers.
"The Vibrant Soundbridge should not have to be considered a luxury by those
suffering on a daily basis from very real hearing loss," Davis said. "Although
the reimbursement process for relatively new medical devices like ours can be
complex, we're optimistic that more insurers can be made to see how covering
this device will benefit their patients."
MfG
Star Ikone
Zahlen ÜBER Erwartungen!
Marktkap. 7Mill. $, Cash 12,5Mill. $
Kaufen bis 35cent!
Symphonix Devices, Inc. Announces Q4 2001 and Year-End Financial Results
SAN JOSE, Calif., Jan 30, 2002 /PRNewswire-FirstCall via COMTEX/ --
Symphonix(R) Devices, Inc. (Nasdaq: SMPX) today reported a net loss of $3.0
million, or $0.09 per share, for the fourth quarter ended December 31, 2001,
compared to $3.8 million, or $0.11 per share, for the third quarter of 2001 and
$4.7 million, or $0.26 per share, in the fourth quarter of 2000. Net loss for
the year ended December 31, 2001 was $16.7 million, or $0.60 per share, compared
to $17.2 million, or $1.18 per share, for the year ended December 31, 2000.
Revenue for the quarter was $0.5 million compared to $0.5 million in the third
quarter of 2001 and $0.5 million in the fourth quarter of 2000. Revenue for the
year ended December 31, 2001 was $2.0 million compared to $1.2 million in the
year ended December 31, 2000.
In 2001, Symphonix focused on expanding its patient referral network by
introducing its implantable middle ear hearing device, the Vibrant(R)
Soundbridge(TM), to U.S. audiologists. The company implemented a number of
initiatives aimed at reaching this influential group of hearing healthcare
professionals, including a conference series at the annual meeting of the
American Academy of Audiology and a program of local educational forums
presented in collaboration with Siemens, a world leader in hearing instruments.
"We're focused on educating audiologists about how the Vibrant Soundbridge can
be an integral part of their practice-building strategies and an enhancement to
patient care," said Kirk Davis, Symphonix' president and chief executive
officer. "We're pleased with the progress we've made thus far and will work to
build on these successes in 2002."
In support of its growing referral network, Symphonix has appointed John Luna as
director of sales. Luna brings nine years of sales experience in the hearing
device industry and key audiology sales relationships to the company. Prior to
joining Symphonix, Luna was the western division sales manager for Sonic
Innovations, a leading producer of advanced digital hearing aids. He served
previously as the western division sales manager for GN ReSound Corporation,
where he was instrumental to the launch of ReSound's first-generation digital
hearing aid, which helped transform the hearing instrument market from an analog
to a digital platform.
"With his deep expertise in hearing device sales, John will be an invaluable
addition to our current sales team," said Dennis Roy, vice president of sales
and marketing at Symphonix. "His immediate focus will be to follow up on our
educational outreach efforts, translating audiologists' growing awareness of the
Vibrant Soundbridge into revenues for the company."
In late 2001, a number of Vibrant Soundbridge patients were able to obtain
reimbursement for the device, related surgical costs and follow-up care from
their private insurers. To help make the breakthrough hearing treatment
available to more of the millions of Americans who could benefit from it,
Symphonix has instituted a program to explore additional avenues for
reimbursement across the spectrum of payers.
"The Vibrant Soundbridge should not have to be considered a luxury by those
suffering on a daily basis from very real hearing loss," Davis said. "Although
the reimbursement process for relatively new medical devices like ours can be
complex, we're optimistic that more insurers can be made to see how covering
this device will benefit their patients."
MfG
Star Ikone
