QualityStocks News - Viking Systems (VKNG) Anticipates Reporting 34% Increase in FY2011 Revenues

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Company reports substantial gain in revenues; plans to implement program to accelerate product placements in 2012

We continue to be very pleased with the progress we are making in the market and the consistently positive feedback we get from surgeons and distributors

QualityStocks would like to highlight Viking Systems, Inc., a publicly traded company developing, manufacturing and marketing 3D and 2D visualization solutions for complex minimally invasive surgery. The company actively markets and sells the only stand alone, FDA cleared, cost effective 3D system for use in minimally invasive laparoscopic surgery. 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, Inc. announced that it expects to report full-year 2011 sales of approximately $10.8 million, a 34 percent increase over the $8.0 million in revenue reported for 2010.

For the 12 months ended Dec. 31, 2011, Viking sold 56 of its recently-released 3DHD Vision Systems, adding weight to the company’s 2011 revenues and reflecting strong international sales.

“We continue to be very pleased with the progress we are making in the market and the consistently positive feedback we get from surgeons and distributors. Keeping in mind the difficult financial situation in the global market and the typical capital equipment purchasing cycles, having shipped 29 end-user systems and deployed an additional 28 distributor demonstration systems during the past 12 months is very encouraging. While most of the customer system sales in 2011 have come from the International market, we believe that in 2012 the mix of 3DHD sales will be much more evenly spread between the United States and the International market,” Jed Kennedy, president and CEO of Viking Systems stated in the press release.

Kennedy said the recent additions of Jennifer Silverman as Viking’s vice president of marketing, and Andy Zappas, as vice president of U.S. Sales, are expected to significantly impact deeper penetration of the U.S. market in 2012.

Viking plans to implement and focus on a customer technology access program to accelerate product placements in 2012.

The company also reported that it shipped 77 of its 3DHD systems from December 2010 through December 31, 2011. Additionally Viking reported strength in its OEM, growing sales in 2011 at approximately 8 percent.

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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.


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