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LONDON, UK, 6 October 2010 – Optos plc (LSE: OPTS), a leading medical retinal imaging company, today announces its pre-close trading update ahead of the Group's preliminary results for the full year ended 30 September 2010, which will be announced on 24 November 2010.
Trading Update
The overall installed base of the Group’s ultra-widefield retinal scanning devices increased by around 3% from 3,797 to 3,912 customers in the year. 282 customers now own devices (an increase of 110) and 3,630 customers are now renting devices, a net increase of 5. The number of customers de-installing held steady with 366 devices returned in the year, equivalent to less than 1% of our rental base each month. Renewal rates are expected to be marginally ahead of the full year target of 80%. Following the focus on asset utilisation, the average number of monthly optomaps by rental customers during the year was 110 compared to 105 in the previous financial year.
Revenues from operating lease rentals, service contracts, and sales of devices are ahead of the $97.2m total revenues achieved in FY09 and in line with market expectations. Additionally, further modest revenues will be recorded from devices delivered under finance leases.
Roy Davis, Chief Executive Officer, commented:
"We are very pleased with the performance of the business in the year. Our increasing revenues and operating efficiencies are expected to lead to an improvement in earnings for the full year. In addition, our net debt has reduced further in the period as a result of our continued strong cash generation. We look forward to sharing more details in our preliminary results statement in November."
Enquiries
Optos plc Roy Davis, CEO Christine Soden, CFO |
+44 (0)1383 843 316 |
Financial Dynamics Ben Atwell / Mo Noonan |
+44 (0)207 831 3113 |
About Optos Plc
Optos plc is a leading retinal imaging company with a vision to be recognised as the leading provider of retinal diagnostics through leveraging its unique wide-field imaging technology. The company has built an extensive installed base for its technology among healthcare professionals under its pay-per-patient business model. This provides an excellent position from which to focus on its core optometry business and expand into ophthalmology in a measured way.
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 forwardlooking 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.
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