Quarterly Trading Update
26.01.2007
LONDON, UK, 24 January 2007 – Optos plc (LSE: OPTS), a leading medical technology company for the design, development, manufacturing and marketing of retinal imaging devices, is today providing an update for the first quarter of the financial year ending 30 September 2007.
Revenue for the first quarter ended 31 December 2006 is expected to be approximately $19.0 million, up from $14.7 million during the same period last year and representing an increase of 29% year over year. During the period the installed base of P200 devices increased by 27% to 2,722, up from 2,141 in the same prior year period.
“Overall, trading for the quarter was in line with our expectations and reflects deepened penetration in our existing markets, including achieving sustained growth in our core North American market,” said Tom Butts, Chief Executive Officer. “Our aim is to continue our growth as we move through the year by completing the roll-out of the new optomap® plus Medical Retinal Exam in our existing customer base and by strengthening our commercial presence within the corporate optical and eye-care chain customer segment in North America.”
Enquiries:
Optos plc
John McNeil, Director of Communications and Assistant Company Secretary +44 (0) 1383 843 337
+44 (0) 7870 240 325
Citigate Dewe Rogerson
Kevin Smith / Yvonne Alexander +44 (0)20 7638 9571
Notes 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 recently gained 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 estimates that its P200 device is targeting a recurring US$2 billion market opportunity. For the year ended 30 September 2006 Optos had revenues of US$67.7 million and 232 employees with an installed base of 2,593 P200 devices in its existing markets in North America and Europe. Optos plc is headquartered in Dunfermline, Scotland and was admitted to the Main Market of the London Stock Exchange on 15 February 2006 trading under the symbol OPTS.
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.
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.