QualityStocks would like to highlight Viking Systems, Inc. (OTCBB: VKNG), a leading worldwide developer, manufacturer and marketer of 3D and 2D visualization solutions for complex minimally invasive surgery. It actively markets and sells the only stand alone, FDA cleared, cost-effective 3D system for use in minimally invasive laparoscopic surgery. Viking partners with medical device companies and healthcare facilities to provide surgeons with proprietary visualization systems enabling minimally invasive surgical procedures, which reduce patient trauma and recovery time. Viking, through its OEM products business, also designs and manufactures surgical vision systems and components for several leading medical instrument companies worldwide.
In the company’s news yesterday,
Viking Systems announced that it expects to report first-quarter sales of $3.5 million, an increase of 60 percent over last quarter figures.
The anticipated sales figure is expected to include revenue from 21 of the company’s 3DHD Vision Systems, 20 of which were shipped in the first quarter. In addition, Viking Systems expects revenue from one additional 3DHD unit shipped in the fourth quarter of 2011, for which revenue was deferred until complete integration into the customer’s system was achieved.
Viking Systems reported total sales for the fourth quarter of 2011 at $2.2 million; and total sales for the first quarter of 2011 at $3.1 million.
Jed Kennedy, president and CEO of Viking Systems said, noted the seasonality of certain product sales, and said the company anticipates continued increases in market demand.
“We are pleased to be off to such a good start in 2012. The first quarter of the year is normally slow and we believe this is an indication that 3DHD sales are beginning to ramp. We continue to receive positive feedback from customers and our distribution partners who both report the purchasing process for systems is underway in most markets,” Kennedy stated.
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