MILAN, Apr 23, 2012 (BUSINESS WIRE) –
Consolidated results for the first quarter of 2012:
Revenues of EUR191.7 million, a 2.8%*
increase (5.1% as reported) over the first quarter of 2011;
Adjusted net profita-’ up 10.3% to EUR11.2 million,
5.8% of revenues (5.6% in the first quarter of 2011).
For the second quarter of 2012, Sorin Group (mil:SRN) expects revenue
growth of approximately 2%* over the same
period of 2011.
* * *
* * *
At a meeting held today and chaired by Rosario Bifulco, the Sorin S.p.A.
Board of Directors approved the results for the first quarter of 2012.
“We are satisfied with the start of 2012. Revenues grew 2.8% on a
currency neutral basis and adjusted net earnings increased 10.3%” stated
Sorin’s Chief Executive Officer Andre-Michel Ballester, “In light of
these positive results and our innovative product pipeline, we believe
we are well positioned to achieve our short-term and long-term
In the first quarter of 2012, Sorin Group reported revenues
of EUR191.7 million, up 2.8%* (5.1% as reported) over
the first quarter of 2011.
The Cardiopulmonary Business Unit (heart-lung machines,
extra-corporeal and autotransfusion blood circulation systems) posted
an excellent performance with revenues of EUR89.3 million,
a 6.3%* increase over the first quarter of 2011. The growth was led by
the heart-lung machines segment which leveraged its unique leadership
position in all markets. The autotransfusion systems continued to
report important revenue growth, mainly in Europe and the United
States, where Xtra(TM) was launched in 2011. The oxygenators
segment benefited from ongoing penetration of emerging markets and
from the significant contribution of the cannulae business. During the
quarter, the Company continued to focus on the development and
manufacturing scale-up of the new family of oxygenators Inspire(TM),