Optos Reports Strong Revenue in FY 2012 Preliminary Results

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LONDON, U.K.—Optos plc (LSE: OPTS), a leading medical retinal imaging company, announced its preliminary results for the year ended Sept. 30, 2012. The results are denominated in $US, the company's reporting currency.

Revenue and other operating income climbed 37 percent to reach $196.4 million compared to $143.3 million in the prior fiscal year.The company cited $21 million in revenue for the year from Daytona, its new desktop retinal imaging system. Optos' after-tax profits were $17.6 million.

The company also said its two geographic segments both grew in double digits for the 2012 fiscal year. North American sales grew 26 percent to $147.8 million while international sales grew 85 percent to $48.6 million. Optos also strenthgened positions in Europe, Middle East and Asia.

Roy Davis, CEO, commented: "Optos has delivered a very strong revenue performance enabling the company to invest for future growth. The last financial year saw the beginning of a new significant chapter in the evolution of Optos with the market launch of Daytona. We have been delighted with the response to its introduction. We believe Daytona will be a pivotal platform for the expansion of our product offerings and international reach, aided by the growing body of clinical evidence that confirms the critical importance of the periphery in retinal diagnostics.

"Our priorities for the current financial year are to execute on growing the Daytona customer base, to continue our expansion into the ophthalmology market with the 200Tx device and to drive further operational efficiency.

"During FY 2013, we expect to deliver revenue growth in high single digits and to see modest gross margin accretion as Daytona reaches volume production," Davis said.