New Customers Drive Optos Sales Growth in 2014 Fiscal Year Third Quarter

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LONDON—Retinal imaging company, Optos PLC (LSE: OPTS) announced yesterday that its revenues for the company’s third quarter (the three-month period ending June 30, 2014) of the company’s 2014 fiscal year were $42 million, 5 percent higher than the $40.1 million generated during the comparable period last year. Year-to-date sales grew to $114.7 million this year, up 1.5 percent from year-to-date sales of $113.1 million during the same time last year. Sales growth was primarily driven by growth in new customers and outright (“capital”) sales in direct markets, according to the company.
 
The company added 364 new customers during the third quarter of 2014, compared with 356 during the same period in 2013. New customers added year-to-date 2014 totaled 992, a 17 percent increase over the 848 added by this time last year, taking the total installed base of the company’s retinal imaging devices and diagnostic instruments to 6,846, up 15 percent from the 5,945 devices installed at the start of this financial year. The company credits sales of its Daytona retinal imaging device with driving the increase in new customers this year.
 
"We continue to see sustained demand for our unique ultra-widefield products, in particular within North America and Asia, resulting in a 15 percent increase in our installed base,” said Roy Davis, CEO, Optos. “Cash generation was particularly strong in the quarter, reducing net debt to $20 million, 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.”