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Company Optos plc
TIDM OPTS
Headline

Interim Management Statement

Released 07:00 22-Jan-2013
Number 0668W07

RNS Number : 0668W
Optos plc
22 January 2013
 



OPTOS PLC

Interim Management Statement

 

Strong new customer acquisition and Daytona sales contribute to positive underlying revenue growth

 

LONDON, UK, 22 January 2013 - Optos plc (LSE: OPTS), the leading medical retinal imaging company, today publishes its Interim Management Statement.  All financial figures are in US$ and cover the three month period ended 31st December 2012, the first quarter of the company's FY13 financial year. All figures are unaudited.

 

Revenue (1)

 

·      Strong underlying revenue (2) growth of 18% compared to the same period last year, driven by a large volume of capital sales.  The underlying revenue calculation restates finance lease revenue as if it was operating lease revenue, but leaves capital sales growth unadjusted.

·      Headline revenue (3) was down 4% to $40.3m (Q1 FY12: $41.9m).

·      Revenue from outright sales of devices increased to $17.6m (Q1 FY12: $9.5m).

·      Revenue from device sales under finance leases decreased to $10.4m (Q1 FY12: $13.2m), reflecting a large number of rental renewals (425) completed in the comparable quarter last year.

·      Revenue from service and warranty increased to $6.4m (Q1 FY12: $2.6m).

·      Revenue from operating leases continued to decline, delivering $5.9m (Q1 FY12: $16.6m).

 

Installed base

 

·      An increase of 274 new customers in the first quarter, which is traditionally our weakest period (Q1 FY12: 114 new customers).

·     Taking into account 28 de-installs (Q1 FY12: 32), the installed base has grown 5% since the end of the last financial year (30 September 2012) to 4,936.

 

Daytona

 

·      267 Daytona devices were installed in the first quarter, to new customers and also as upgrades for existing customers.  We continue to see good levels of interest in the product.

·      In addition, we have agreed the supply of 250 Daytona devices on a rental basis to a major corporate over the next 12 months.

 

Roy Davis CEO commented: "I am encouraged by the significant growth in year-on-year capital sales volume and the acquisition of 274 new customers in the first quarter, particularly as we seek to increase the new customer base in FY13. Our underlying revenue growth for Q1 FY13 was positive, against a robust comparable period.  Whilst continuing economic difficulties in Europe have adversely affected trading conditions in this relatively modest market for Optos, trading elsewhere was strong in December and continues to be so in the first weeks of the second quarter.   We sold 267 Daytonas in the first quarter, secured an order for 250 devices with a corporate player and see continued demand for our other products - 200Tx and P200."

 

 

Enquiries:

 

Optos plc

Tel: 01383 843 300

Roy Davis, CEO

 

Louisa Burdett, CFO 

 

 

 

FTI Consulting

Tel:  020 7831 3113

Ben Atwell / Mo Noonan / Simon Conway

 

 

 

Notes:

 

(1)   Revenue includes other operating income.

(2)   Underlying revenue is calculated by treating all payments receivable in the period from rental contracts as if they were operating leases, regardless of the actual accounting treatment, together with revenues from outright device sales and service contracts.

(3)   Headline revenue is as reported.

 

Note to Editors: Images available upon request

 

About Optos Plc

Optos plc has the vision to be The retina company.  We aim to be recognised as a leading provider of devices and solutions to eyecare professionals for improved patient care.  Optos' core devices produce ultra widefield, high resolution digital images (optomaps®) of approximately 82% of the retina, something no other device is capable of doing in any one image.  Our recent acquisition of OPKO instrumentation brings the group optical coherence tomography ("OCT") diagnostic devices and optical ultrasound scanners, used in the diagnosis and management of eye disease and conditions.

 

Optos' widefield retinal imaging technology, combined with the specific data that can be derived from OCT images, has the potential to offer ophthalmologists and optometrists the most powerful tools for disease diagnosis and management.  The optomap images provide enhanced clinical information which facilitates the early detection, management and treatment of disorders and diseases evidenced in the retina such as retinal detachments and tears, glaucoma, diabetic retinopathy and age-related macular degeneration.  Retinal imaging can also indicate evidence of non-eye or systemic diseases such as hypertension and certain cancers.  OCT delivers an image that shows a three dimensional, cross-sectional view of the retina in any particular area, typically in the central pole area of the retina around the optic nerve and macula and is used to detect the presence of and understand the severity of disease, determine treatment approaches and monitor post-treatment effect.

 

Optos has a range of imaging devices that support different customer segments and patient levels: the P200 and 200Dx devices are concentrated on wellness screening carried out by optometrists and ophthalmologists in primary care; the P200C devices are designed to meet the need for more exacting clinical imaging capabilities and standards in secondary care within the ophthalmology market and at optometric practices that are clinically managing a patient base with advanced ocular disease; and the P200MA and 200Tx devices supports ophthalmologists and retinal specialists in the medical care market. We have recently introduced Daytona, our next generation imaging device. Daytona is a desk top device with multiple imaging modalities and was designed to enable us to globalise our ultra widefield technology.  Our expanded product range includes visual acuity, perimetry and treatment laser products

 

For more information please visit our website www.optos.com.

 

Forward-Looking Statements

 

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates and projections about its industry, its beliefs and assumptions.  Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the Company's control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Interim Management Statement - RNS