Health Robotics today announced FY2011 audited financial results, once again delivering record levels of revenues, gross margins, EBITDA, and profits, while concurrently weathering the economic world crisis, unfavorable Euro/Dollar exchange rates, and successfully defeating hostile takeover attempts and groundless lawsuits.
Gaspar DeViedma, Health Robotics’ Executive Vice President, stated: “FY2011 revenues reached almost $18M (a 25% increase over prior year) by winning 100% of all IV Robots’ globally announced purchase decisions over the past 24 months. Costs of Good Sold decreased in FY2011 despite large sales increases in volume of units, as Health Robotics’ greatly benefited from the performance gains introduced by its new CTO, Mr. Fabio Fioravanti. As a direct consequence, Gross Margins grew to record levels of $13M, a 46% increase over the prior fiscal year, while the company increased its Gross Margin % to a record 75% of sales.”
Despite the economic world crisis, Health Robotics has continued to heavily invest in R&D and other personnel expenses, by increasing Operating Costs to almost $10M, or by 67% over prior fiscal year’s expenditures. Consequently, it is now widely recognized as the only company in the world that provides hospitals pharmacies with a portfolio of both Robotics and Non-Robotics’ based Intravenous Admixture Compounding Automation solutions for Chemotherapy, TPNs, and other IVs.
Mr. DeViedma continued: “Being somewhat insulated of regional economic crises due to its worldwide presence at almost 300 global installations has permitted Health Robotics’ management to make a big effort in sacrificing short-term EBITDA and Net Profits gains in favor of its worldwide quest to provide safe and cost-effective Intravenous Admixture Compounding Automation to hospitals all over the world. FY2011 EBITDA and Net Profits reached $3.5M and $750,000 respectively, clearly showing that Health Robotics continues to re-invest the majority of its gross revenues in the development of new Sterile Compounding Automation solutions, and to continue to unquestionably dominate the global industry and its five competitors