[LOGO OMITTED] GIVEN IMAGING
For Immediate Release
For further information contact:
Yuval Yanai or Fern Lazar/David Carey Given Imaging Ltd. Lazar Partners Ltd.
GIVEN IMAGING REPORTS RECORD FOURTH QUARTER AND FULL YEAR 2005 RESULTS
- Annual sales reach $87 million, up 34% - - Fourth quarter net income up 44% to $3.5 million - - Fourth
quarter earnings per share of $0.12 -
YOQNEAM, Israel, February 7, 2006 - Given Imaging Ltd. (NASDAQ: GIVN) today announced fourth
quarter and full year results for the period ended December 31, 2005.
Worldwide sales of the Given(R) Diagnostic System ("GDS") and Given(R) PillCam video capsules reached
$24.4 million in the fourth quarter of 2005, a 10% increase over sales of $22.2 million in the fourth quarter of
2004. Operating income in the fourth quarter of 2005 was $2.3 million, compared to operating income of
$828,000 during the same period in 2004. Gross profit in the fourth quarter of 2005 was 75.4%, significantly
higher than 70.4% in the fourth quarter of 2004. Net income for the fourth quarter was $3.5 million, or $0.12 per
share on a diluted basis, a 44% increase over net income of $2.4 million in the fourth quarter of 2004. Cash, cash
equivalents and marketable securities at year end totaled $87.4 million.
For the twelve month period ended December 31, 2005, sales were $86.8 million reflecting a 34% increase over
sales of $65.0 million in the same period in 2004. Gross profit for the twelve month period was 74.6% compared
to 72.7% in 2004. Operating income in 2005 was $4.2 million, compared to $495,000 in 2004. Net income for
2005 was $6.3 million or $0.21 per share on a diluted basis, up 117% compared to net
income of $2.9 million, or $0.10 per share, for 2004. Net income for the year included a special provision
recorded in the second quarter, net of tax benefits, of $1.2 million for certain taxes related to our U.S. subsidiary
and an adjustment of $600,000 in the v