Interim Management Statement


Continued growth and cash generation


LONDON, UK, 17 July 2014 – Optos plc (LSE: OPTS), the leading medical retinal imaging company, today publishes its Interim Management Statement for the period from 1 October 2013 to today, including data for the three month period ended 30 June 2014, the third quarter of the Company's FY14 financial year, and nine months to 30 June 2014 (YTD14).  All figures are reported in US$ and are unaudited.

Headline revenues at $42m for the third quarter were 5% higher than the comparable period last year (Q3 FY13: $40.1m) driven primarily by growth in new customers and outright ("capital") sales in our direct markets.

YTD14 underlyingrevenue grew 13% with headline year-to-date revenues of $114.7m which were 1.5% above last year (YTD13: $113.1m).

In the third quarter, we have added 364 new customers (356 in Q3 FY13) and 992 customers YTD14 which is 17% higher than last year (YTD13: 848) driven by Daytona. This takes the total installed base to 6,846, up 15% from 5,945 at the start of the financial year.

Net debt has reduced further to $19.5m at 30 June 2014, $16m lower than at 30 March 2014 ($35.5m) and $26.5m lower than this time last year ($46m).

Roy Davis, CEO of Optos, commented:

"We continue to see sustained demand for our unique ultra-widefield products, in particular within North America and Asia, resulting in a 15% increase in our installed base. Cash generation was particularly strong in the quarter reducing net debt to $20m which is significantly below this time last year, setting us in good stead for the year. As we enter into Q4, traditionally our strongest quarter, we remain confident on the outlook for the full year.”

  1. Underlying revenue growth is calculated by treating all payments receivable in the period from rental contracts as if they were operating leases, regardless of the actual accounting treatment, together with revenues from outright device sales and service contracts


Optos plc
Roy Davis, CEO
Robert Kennedy, CFO

Tel: 01383 843 300

FTI Consulting 
Ben Atwell / Mo Noonan / Simon Conway

Tel: 020 7831 3113