Given Imaging Ltd. announced consolidated earnings results for the third quarter and nine months ended September 30, 2009. Worldwide revenues in the third quarter of 2009 increased to $35.2 million from $31.1 million in the third quarter of 2008. Net income for the third quarter of 2009 increased by 82% to $3.8 million or $0.13 per share on a fully diluted* GAAP basis compared to $2.1 million, or $0.07 per share, respectively, in the third quarter of 2008. Non-GAAP earnings per share for the third quarter of 2009 increased to $6.0 million, or $0.20 per share, compared to $3.8 million, or $0.12 in the same period last year. Operating profit was $2.6 million and profit before taxes on income of $3.7 million against operating profit was $880,000 and profit before taxes on income of $1.6 million for the same period a year ago. Non-GAAP operating profit was $4.8 million and profit before taxes on income of $5.9 million against Non-GAAP operating profit was $2,600 and profit before taxes on income of $3.3 million for the same period a year ago. Net cash provided operating activities was $3.3 million and purchase of fixed assets and intangible assets of $1.2 million against net cash provided operating activities was $5.4 million and purchase of fixed assets and intangible assets of $1.6 million for the same period a year ago. For the nine month period ended Sept 30, 2009, sales increased by 11% to $101.7 million compared to $91.3 million in the same period of 2008. Net income for the first nine months of 2009 increased 48% to $9.0 million, or $0.30 per share on a fully diluted GAAP basis, compared to net income of $6.1 million or $0.20 per share for the same period in 2008. Non-GAAP earnings per share for the first nine months of 2009 more than doubled to $13.5 million or $0.45, compared to $6.8 million or $0.22 in the same quarter of last year. Operating profit was $5.8 million and profit before taxes on income of $7.1 million against operating profit was $1.6 million and profit before taxes on income of $4.8 million for the same period a year ago. Non-GAAP operating profit was $11.7 million and profit before taxes on income of $12.9 million against Non-GAAP operating profit was $2.3 million and profit before taxes on income of $5.5 million for the same period a year ago. Net cash provided operating activities was $11.1 million and purchase of fixed assets and intangible assets of $3.6 million against net cash provided operating activities was $10.9 million and purchase of fixed assets and intangible assets of $5.2 million for the same period a year ago. The company expects 2009 revenue to be near the low end of prior guidance of between $141 and $148 million. The company is increasing its 2009 EPS guidance and now expects GAAP EPS to be between $0.42 - $0.46, compared to prior guidance of $0.20 - $0.28 and non-GAAP EPS of $0.64 - $0.68 compared to prior guidance of $0.46 - $0.54.

To discuss new features of the company's second-generation PillCam(r) COLON and review results from the recently completed Israeli feasibility study

Given Imaging Ltd. announced a new study showing that PillCam(R) ESO accurately identifies and allows the physician to classify high-risk emergency room patients with upper gastrointestinal bleeding (UGIB), leading to rapid therapeutic intervention. Among patients classified through capsule endoscopy, time to endoscopy was significantly shorter (2.5 hours v. 8.9 hours) among those with positive signs of bleeding, when compared to patients undergoing standard clinical assessment. Twenty-four ER patients with a history of upper GI bleeding (UGIB) were randomized to undergo live PillCam capsule endoscopy or standard clinical assessment, consisting of clinical judgment and objective scoring systems. In the capsule endoscopy cohort, patient studies were read in real-time at the patient's bedside and later reviewed after the video was downloaded. In the capsule endoscopy cohort: Seven of 12 showed positive signs of bleeding. Four patients' actual lesions were visualized in real time. Two patients' lesions were visualized at download. Five of 12 showed no signs of bleeding. Four patients had no stigmata at EGD following the capsule endoscopy. One patient did not undergo EGD due to co-morbidities The study included 14 males and 10 females, with an average age of 66 years.