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Optos Plc (OPTS.L) Release: Strong Growth in H1 Revenues and Profits


5/17/2011 10:48:46 AM

LONDON, UK, 17 May 2011 – Optos plc (LSE: OPTS), a leading retinal imaging company, today announces its interim results for the six-month period ended 31 March 2011.

Operating Highlights

- Strong sales performance underpinned by new business models and products

- 200Dx and 200Tx proving strong products in both existing and new markets, including Japan

- Increasing trend towards device sales with over $11m of Optos products sold outright

- Total customer base expansion accelerated by 124 in period to 4,036 devices

- Continued improvement in usage - average monthly optomaps per site up 3 to 112 (H1 2010:109)

- Growth in operating profits and further cash generation

- Despite significant investment in new products and markets and one-off acquisition costs

- Opto Global integration progressing well and product cross-selling underway

- Intellectual property strengthened with important new patents granted on core technology

- Daytona desktop device on track for FY12 launch

- Further clinical evidence of value of optomap® including publication of Moorfield’s Alzheimer study

Roy Davis, CEO of Optos, commented: “We have seen a strong start to the year which has continued in the first weeks of the second half. We have put in place important building blocks to allow accelerated growth in the business. Strong early demand seen for the 200Tx devices, increasing revenues from the products and sales channels acquired with Opto Global give us confidence for continued growth for the remainder of the year. We believe we are on track to achieve our aspirational vision of 20% margin and 20% revenue growth in the medium to longer term.”

Enquiries

Optos plc +44 (0)1383 843 300

Roy Davis, CEO

Christine Soden, CFO

Financial Dynamics +44 (0) 207 831 3113

Ben Atwell / Mo Noonan

About Optos Plc

Optos plc is a leading retinal imaging company. Our vision is to be recognised as the leading provider of retinal diagnostics through leveraging our unique wide-field imaging technology. Both eye and non-eye diseases often first exhibit in the periphery of the retina. These are very difficult to detect clinically with conventional examination equipment and techniques. Optos' devices produce ultra wide-field, high resolution images of approximately 82% of the retina, something no other device is capable of doing in any one image. The images provide optometrists and ophthalmologists with 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.

Optos has a range of medical 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 and 200Rx 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. Optos' product range has recently been expanded to include the AccuPen, PachPen and B-Scan handheld devices for glaucoma and tumour management. The acquisition of Opto Global, completed in December 2010, brings additional devices for both optometrist and ophthalmologist practices, and expand the geographic reach outside our core North American and European markets.

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.

Mo Noonan

Senior Manager

Financial Dynamics

Holborn Gate, 26 Southampton Buildings

London, WC2A 1PB

D +44 (0)20 7269 7116

M +44 (0)7876 444 977

www.fd.com


Read at BioSpace.com

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