EDAP TMS SA (EDAP) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $1.37 million, or $ 0.05 a share in the quarter, against a net profit of $5.54 million, or $0.19 a share in the last year period.

Revenue during the quarter dropped 10.34 percent to $11.44 million from $12.76 million in the previous year period. Gross margin for the quarter expanded 373 basis points over the previous year period to 48.65 percent. Total expenses were 96.87 percent of quarterly revenues, up from 86.57 percent for the same period last year. That has resulted in a contraction of 1030 basis points in operating margin to 3.13 percent.

Operating income for the quarter was $0.36 million, compared with $1.71 million in the previous year period.

Marc Oczachowski, EDAP's chief executive officer, stated, "I am thrilled with the performance of our team in 2016. We successfully grew our HIFU revenue more than 63% to EUR 13.8 million, resulting in total 2016 revenue of EUR 35.6 million. EDAP strengthened its HIFU presence in the U.S. during 2016, adding key academic centers to its HIFU user base while significantly expanding operations globally. Ablatherm and the Focal One continued to enjoy a warm reception from the global medical community supported by strong, positive clinical data. Notably, Focal One's innovative prostate treatment received clear recognition from the global scientific community when awarded the prestigious Prix Galien Award this past December."