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Wednesday, July 25, 2012

Optos ramping up for Daytona launch - HealthInvestor

Retinal imaging company Optos believes it is on track to meet full-year expectations ahead of a major product launch.

In an interim management statement published 18 July 2012, the firm announced that year-to-date 2012 revenues were $127.1 million ($81.5 million), up 24% on YTD11 ($102.1 million), growing 12% on an underlying basis and 7% on a like-for-like basis.

It confirmed its Daytona device is on track for a full sales launch on 1 October 2012, with 40 devices shipped and firm orders for 360 instruments outstanding.

Chief executive Roy Davis commented: “Our customer base continues to grow, underpinned by demand for all our core products. In particular, we are pleased with the market reception to Daytona following its initial launch and our order book continues to grow.

“This quarter has largely been about the manufacturing scale-up of Daytona and ensuring we have sufficient capacity to efficiently fulfil orders. We remain on track to deliver against our Daytona order book and look forward to the full sales launch for the product planned for October.”

Brokerage Investec said “the risk remains high” for Optos to meet out full year revenue forecasts, though it added this should be achievable given Daytona’s planned shipments.

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