OPTOS PLC
Preliminary Results FY12
Highlights
Strong financial performance ahead of expectations
- Revenue and other operating income(1) up 37% to $196.4m
- 15% underlying revenue growth(2)
- $21.0m revenue from Daytona, our next generation desktop retinal imaging device, with 329 devices installed this year
- Timing of manufacturing scale up of Daytona contributed to a fall in gross margin from 64% to 57%(3)
- In a year of significant investment, profit before tax and exceptional items increased 16% to $26.3m versus $22.7m last year
- Diluted EPS post-exceptional was 25% lower at 23.9 cents from 31.8 cents reflecting acquisition-related charges, and for the first time, a net tax charge on profits
- Investment in the business, and the increase in self-funded finance leases, contributed to a cash decrease of $3.6m in the year
- A three year bank facility of $30m was taken on to finance the OPKO acquisition, contributing to a net debt increase to $47.9m
Increased geographical reach
- Our two geographic segments both grew in double digits
- North American sales grew 26% to $147.8m
- International sales grew 85% to $48.6m
- Strengthened positions in Europe, Middle East and Asia
Investment in the product range
- Completion of manufacturing scale-up and market roll-out of Daytona
- Continued progress on the development project to combine our ultra wide-field retinal imaging technology with ocular coherence tomography ("OCT") into a single device
Accelerated growth in ophthalmology
- Over 320 200Tx devices installed globally, including into key ophthalmology centres in the USA, Germany, Jeddah, Dubai, Abu Dhabi, as well as Japan
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