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InspireMD Reports Record Third Quarter 2011 Operating and Financial Results and Strategic Update
Date:11/15/2011

the completion of the MASTER trial. This effort produced meaningful results in the third quarter, as we saw an 88% increase in shipments and a notable increase in revenues. We are also pleased to have received notice of our patent from the USPTO, bolstering the intellectual property protection for our first product. In addition, we remain focused on innovation, and plan to introduce additional products based on our mesh net technology. We are excited about our progress to date."

Third Quarter Financial ResultsFor the quarter ended September 30, 2011, total revenue was $2.0 million, an increase of 62.4% compared to the $1.2 million for the third quarter last year and a sequential increase of 91.0% compared to the $1.0 million for the second quarter of 2011. On a product delivery basis, shipments increased 87.8% during the third quarter of 2011 compared to the same period in 2010. Gross profit was $1.2 million, or 59.7% gross profit margin, compared to gross profit of $662,000, or 54.1% gross profit margin in the third quarter last year. Higher margins were due to higher average selling prices for the Company's stents and improved economies of scale. Total operating expenses were $3.3 million during the third quarter of 2011, compared to total operating expenses of $1.4 million in the same period in 2010. The majority of the increase was due to a $0.2 million, or 179%, increase in research and development expense, primarily related to investments in future products and the clinical validation of existing products as well as salaries, and a 175% increase in general and administrative expense, primarily related to $1.3 million non-cash charges for share-based compensation for one of the Company's new directors as well as public company, legal and investor relations expenses. Selling and marketing expenses remained relatively flat as compared to the same quarter in 2010.  

The Company reported a loss from operations of $2.2 million compared to a los
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Related medicine technology :

1. InspireMD Announces the Enrollment of the 1st Patient in the MGuard iMOS Registry, the Registry Will Enroll 1000 Patients
2. For the First Time, at EuroPCR, InspireMD Will Provide a Sneak Preview of the Next Generation MGuard Prime(R), a State of the Art Net Protective Cobalt Chromium Stent System
3. InspireMD Becomes a Supporting Organization in the Growing Stent for Life Initiative
4. InspireMD Boosts MGuard Production Capacity
5. InspireMD to Commence Trading as a Public Company Under Ticker Symbol "NSPR"
6. InspireMD to Participate in Benchmark Company, LLC 2011 One-On-One Investor Conference
7. InspireMD Increases Geographic Penetration; MGuard Stent is Now Available in India
8. InspireMD Promotes MGuardâ„¢ at the EuroPCR 2011 Exhibition and Conference in Paris This Week
9. InspireMD Announces Year-to-Date 2011 Progress
10. InspireMD Broadens Global Distribution Network; Signs Distributor for the Russian Federation
11. Sol J. Barer, Ph.D. Joins InspireMD Board of Directors
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