Interim Management Statement
28.01.2008
LONDON, UK, 28 January 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 first Interim Management Statement (IMS) as required by the UK Listing Authority Disclosure and Transparency Rules for the three month period ended 31 December 2007 (the “period”) of the financial year ending 30 September 2008.
“We are progressing to plan and expect to report results for the first half of the year that are in line with Management’s expectations,” said Thomas W. Butts, Chief Executive Officer. “Looking ahead to the full year, we are on track to meet our 20%-25% revenue growth target.”
- Revenue for the period was approximately $23 million, which is in line with the Company’s expectations. Revenue growth was driven by continued strong demand in the primary care market in the USA and Germany. 95% of year to date revenue was generated by the Company’s core pay-per-patient examination model.
- Customer contract renewals for the period were strong at 88%, which is comfortably ahead of the Company’s longer-term target of 85%.
- Progress in France, Spain, Switzerland and Norway, the Company’s newer European markets, is to plan. Devices are being marketed and distributed direct and have now been installed in all four markets on the pay-per-patient examination model.
- Prospects for the new P200MA device in the medical care market remain positive and full commercial launch will take place as planned in Q2-08.
An internationally recognised specialist in the treatment of macular degeneration, disorders of the retina and diabetes-related eye disease, Dr Donald J. D’Amico, Chairman of the Department of Ophthalmology at Weill Cornell Medical College and ophthalmologist-in-chief at New York - Presbyterian Hospital / Weill Cornell Medical Center, said, “The P200MA is an amazing device and delivers substantial advancement in retinal disease detection and evaluation - the optomap® fa images provide superb documentation and produce the most eloquent, dramatic and compelling view of the fundus, which will greatly enhance patient care and education.” The Company will issue a pre-close trading statement in advance of reporting its interim results for the six months ended 31 March 2008.
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Enquiries
Optos plc
John McNeil, Director of Communications and +44 (0) 1383 843 337
Assistant Company Secretary +44 (0) 7870 240 325
Note to Editors
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. Optos' platform technology is the Panoramic200 Scanning Laser Ophthalmoscope device - known as the P200. In a quarter of a second the P200 device produces a high resolution image of up to 200 degrees or approximately 82 percent of the retina in a single capture. The image - branded the optomap® Retinal Exam - provides eye care practitioners with clinically useful information that facilitates the early detection of disorders and diseases evidenced in the retina, such as glaucoma, diabetic retinopathy and age-related macular degeneration. Retinal imaging can also indicate evidence of non-eye or systemic diseases such as diabetes, hypertension and certain cancers. The Company has regulatory clearance (CE and FDA 510(k)) to market a second device - P200MA. Optos' technology provides an unequalled combination of wide-field retinal imaging, speed and convenience for both practitioner and patient and can help save sight and save lives. Optos is incorporated in Scotland under the Companies Act 1985 with registered number SC139953. The Company maintains its Registered Office at Queensferry House, Carnegie Business Campus, Dunfermline, Scotland KY11 8GR United Kingdom.
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.