Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) expects rapid growth in 2014, after reporting double-digit revenue and profit growth for the second quarter of 2013. Revenue rose 11% to $49.5 million for the second quarter from $44.5 million for the corresponding quarter of 2012.
GAAP-based net profit rose 71% to $5.2 million ($0.16 per share) for the second quarter from $3 million for the corresponding quarter, and non-GAAP net profit rose 35% to $6.9 million ($0.22 per share) from $4.9 million.
Cash flow from operations was $8.8 million, and the company had $130.3 million in cash and cash equivalents at the end of June.
Given Imaging president and CEO Homi Shamir said, "Looking ahead, we expect the recent and significant regulatory milestone - the clearance of PillCam Colon in Japan, as well as the pending FDA decisions regarding PillCam SB3 and PillCam Colon - to enable us to accelerate growth in 2014 and beyond."
Published by Globes [online], Israel business news - www.globes-online.com - on August 7, 2013
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