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Optos Reports Increase in Sales and Profits for FY 2011

November 23, 2011 12:25 AM

LONDON—Optos plc (LSE: OPTS), a leading medical retinal imaging company, reported its preliminary results for the year ended Sept. 30 2011. The results are denominated in $US, the Company’s reporting currency.

Total revenue grew 35 percent from $109.3 million in the fiscal year ending Sept. 30, 2010 to reach $143.3 million this year. The revenue number included $81.2 million from operating leases and variable revenues from rental of devices, $37.6 million from outright sales of devices, $19.8 million from device sales under finance leases and $4.7 million in service and warranty revenues.

Optos also reported that its North America revenue grew by 25 percent to reach $117.5 million while its international sales doubled to reach $26.2 million. The company noted it opened business in further EU markets as well as in Japan, Australia and the Middle East.

After tax profits soared 63 percent to reach $22.8 million for the year ending Sept. 30, 2011, compared to the prior year’s after tax profits of $14.0 million.
The company noted that during the past year it expanded its product range and complementary technologies including the unveiling of Daytona, a next-generation desktop retinal device, with a launch expected in the first quarter of 2012. Its Opto Global product sales are $3 million, on track for breakeven in the company’s first full year of ownership and its Opko Instrumentation integration is progressing well, enabling the company’s entry into the OCT market.

The company also reported accelerated growth in ophthalmology, adding a six-person sales team to lead sales efforts in the North American market.
Roy Davis, CEO of Optos, commented: “During the last financial year we have delivered a significant increase in both revenues and profits whilst making important investments in the long-term growth of the business. We have expanded into several new markets, whilst building our product portfolio both through acquisition and organic development. At the same time, we have developed a growing body of clinical evidence that demonstrates the critical importance of retinal diagnostics. Overall, we are pleased with our progress toward becoming the leading retinal diagnostics company and are increasingly confident about Optos’ long term growth prospects.” More info is posted at www.optos.com.
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