Interim Management Statement
7/31/2008
LONDON, UK, 31 July 2008 - Optos plc (LSE: OPTS), a leading medical technology company for the design, development, manufacturing and marketing of retinal imaging devices, is today publishing its Interim Management Statement (IMS) as required by the UK Listing Authority Disclosure and Transparency Rules covering the nine month period ended 30 June 2008.
Key Highlights
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$73 million in Group revenue
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93% of revenue generated from core pay-per-patient business model
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89% customer contract renewal rate for the period
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112 new installs within a leading corporate retail chain
Trading Update
The reliability of the Group's recurring revenue model and continued strong rate of customer contract renewals is enabling the business to sustain its growth.
Very good advances have been made in the corporate customer segment through the Company's status as a preferred provider of retinal imaging devices. Progress within this segment is expected to continue. Commercialisation of the P200C continues within the clinical optometry and ophthalmology markets and with the P200MA device amongst retinal specialists in the medical market. Roll out of V2® Vantage Dx, the Company's proprietary retinal imaging software, is being achieved across the customer base. This software provides practitioners with image enhancements and additional 3D graphics while assisting the practice in improving workflow and overall productivity. A more detailed update on all of these initiatives will be provided when the Group reports its preliminary results on 4 December 2008.
A rigorous focus on delivering enhanced margins has been maintained and the Group expects to report an improved operating margin at the year end. Strong contract renewal rates are expected to continue and at 89% for the year to date are well ahead of the Company's full year guidance. Optos reiterates its current full year outlook of generating revenue growth of 20%-25% over last year.
A pre-close statement for the full year will be issued on 30 September 2008 in advance of the Group's preliminary results.
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Enquiries
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Maitland |
+44 (0)20 7379 5151 |
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Brian Hudspith / Neil Bennett |
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About Optos plc
Optos plc is a leading and rapidly growing medical technology company for the design, development, manufacturing and marketing of devices that image the retina, the light-sensitive area at the back of the eye. 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: P200 device is concentrated on wellness screening carried out by optometrists and ophthalmologists in primary care; P200C device is 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; P200MA device supports retinal specialists, working primarily with a diabetic patient base, in the medical care market through an advanced medical angiography procedure. Optos' technology provides an unequalled combination of wide-field retinal imaging, speed and convenience for the practitioner and patient resulting in more targeted treatment regimes and improved patient outcomes. This can help save sight and save lives. Optos estimates that it is addressing a market opportunity with a combined $4 billion potential.
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.