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Mauna Kea Technologies Reports 93% Sales Increase in First Half of 2012


7/11/2012 3:32:05 PM

PARIS--(Marketwire - July 11, 2012) - Mauna Kea Technologies (EURONEXT PARIS: MKEA), leader in the endomicroscopy market, today reported topline sales results for the second quarter and first half of 2012, ended June 30.

                                                                            
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In KEUR                                                                     
IFRS standards                                2012         2011     Change %
----------------------------------------------------------------------------
Q1 (to March 31)                             1,611          631        +155%
----------------------------------------------------------------------------
Q2 (to June 30)                              1,907        1,189         +60%
----------------------------------------------------------------------------
First Half                                   3,519        1,820         +93%
----------------------------------------------------------------------------
                                                                            

Sales Increase 93% During First Six Months of 2012

Driven by a strong increase in sales of Cellvizio® systems and probes to hospitals, the company's key target market, sales grew 93% to EUR3.52 million during the first half of 2012 from EUR1.82 million in the same period last year.

"The robust increase in sales of Cellvizio systems and miniprobes during the first half of 2012 reinforces our new sales and marketing strategy and initiatives to strengthen our sales team," said Sacha Loiseau, Founder and CEO of Mauna Kea Technologies.

During the first half of 2012, clinical sales (sales to hospitals) rose 76% to EUR2.86 million from EUR1.63 million during the first half of 2011. This segment now accounts for 81% of the company's global sales. Sales to preclinical research laboratories, which represented 19% of overall sales, rose to EUR657,000 from EUR191,000.

Equipment sales -- or sales of Cellvizio systems -- rose 119% to EUR2.45 million the first half of 2012. The sale of consumables (miniprobes) also shows a significant increase of 119% to EUR849,000, while the sales of services fell by 29% to EUR223,000 during the first six months of 2012.

Geographical sales distribution reflects the company's efforts to strengthen its business strategy and direct sales teams in the U.S. and part of Europe. As of June 30, sales from the Americas now account for 60% of the company's global sales, while the Europe Middle East and Africa (EMEA) and Asia Pacific (APAC) regions account for 25% and 15% of sales, respectively.

Second Quarter Growth Exceeds 60% Year over Year

Sales during the second quarter of 2012 grew by more than 60% to EUR1.91 million from EUR1.19 million in the same period last year, with clinical sales up 58% to EUR1.62 million and pre-clinical sales up 73% to EUR289,000.

Equipment sales rose 66% to EUR1.245 million during the second quarter, while the sales of consumables doubled to EUR512,000. Sales of services fell by 16% to EUR151,000 during the second quarter of 2012.

The company plans to announce its full financial results for the first half of 2012 after the NYSE Euronext closing bell in Paris on August 30, 2012.

About Mauna Kea Technologies

Mauna Kea Technologies is a global medical device company and leader in the endomicroscopy market. The company researches, develops and markets innovative tools to visualize and detect abnormalities in the gastro-intestinal and pulmonary tracts. Its flagship product, Cellvizio®, a probe-based Confocal Laser Endomicroscopy (pCLE) system, provides physicians and researchers high-resolution cellular views of tissue inside the body. Large, international, multi-center clinical trials have demonstrated Cellvizio's ability to help physicians more accurately detect early forms of disease and make treatment decisions immediately. Designed to improve patient outcomes and reduce costs within a hospital, Cellvizio can be used with almost any endoscope. Cellvizio has 510(k) clearance from the U.S. Food and Drug Administration and the European CE-Mark for use in the GI and pulmonary tracts.

For more information about Mauna Kea Technologies, go to www.maunakeatech.com


United States
Lazar Partners Ltd.
Erich Sandoval
Tel: +1 917 497 2867
esandoval@lazarpartners.com

Mauna Kea Technologies
Eric Cohen
Vice-President Finance
Tel: +33 (0) 1 70 08 09 70
investor-vpf@maunakeatech.com

France et Europe
ALIZE RP
Caroline Carmagnol
Tel: +33 (0)1 42 68 86 43 / +33 (0)6 64 18 99 59
caroline@alizerp.com
Anne-Sophie Cosqueric
Tel: +33 (0)1 42 68 86 41
anne-sophie@alizerp.com

NewCap.
Investor Relations and Financial Communication
Pierre Laurent / Florent Alba
Tel: +33 (0)1 44 71 94 94
maunakea@newcap.fr


Read at BioSpace.com

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