nSpire Health, LLC, a leading provider of respiratory diagnostic devices and clinical trial services, issued audited results for 2010 today. Sales of $27.6M are up 3% year over year. The Company reported a $3.6M improvement in EBIT when compared to 2009 and its highest profit since the founding of the company in 2006. Cash is up $2.4M and debt reduced to less than $400K.
"Narrowing our focus on higher growth, new product lines, and more profitable geographic markets with increased efficiency gained through restructuring events in 2009 and early in the year helped us deliver productive 2010 performance and confirms our expectation for a favorable outlook for 2011," said Michael Sims President and CEO of nSpire Health.
"We enter 2011 with increased flexibility due to our cash position," said Sims. "Despite spending restraint, innovation remains one of our key success factors. Prudent R&D investments have yielded three new patent applications, which will lead to near and mid-term product introductions in three strategic business areas. Imminent product introductions in our premium HDpft® pulmonary testing product line will strengthen our global position as a local partner in major markets. Continued advances in our web-based management tools, e-training innovation, and flagship electronic patient reported outcomes (ePRO) product, PiKoLogic®, are exciting customers and fueling our optimism for sustainable growth in our clinical trial services business."
"The mid-term view of our markets now appears tenable. As such, we are committed to capital investments and programs creating the most value for our customers and shareholders while positioning our company for long-term organic growth and strategic partnerships."
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