30 January 2013
Trading Update: Half-Year Result 2013 Financial Year
Adelaide, Australia, 30 January 2013 – Ellex Medical Lasers Limited (ASX:ELS), a pioneer in medical technologies for the diagnosis and treatment of eye disease, today announced that it expects profit before tax to be between $50,000 and $100,000 for the six months ended 31 December 2012. This compares to a profit before tax of $949,246 for the six months ended 31 December 2011.
Despite a 4% improvement in group revenues compared to the period ended 30 June 2012, revenues are expected to be 16% lower than the prior comparable period.
The period ended 31 December 2011 saw the Company achieve significantly higher sales revenue in the last quarter due to record sales numbers in the USA, resulting primarily from changes to insurance reimbursements in the USA that favoured ophthalmic equipment purchases, and significant sales of third-party product into the Australian optometry market. After allowing for these particular events sales revenue for the half-year ended 31 December 2012 fell by approximately 2% compared with the prior comparable period.
During the most recent half year, the Company achieved improved sales performance in Asia, particularly in China, and generated initial sales from the limited commercial roll-out of Retinal Rejuvenation Therapy (2RT) following regulatory approval in July for the treatment of diabetic eye disease in Europe and Australia; however, these initiatives were not able to match the strong sales result achieved in the first half of the 2012 financial year.
“Despite the expected fall in revenue compared to the prior comparable period, we are pleased with the revenue growth achieved over the past six months compared with the period ended 30 June 2012. This result, along with a strong sales order backlog, provides a solid platform for improved sales performance in the second half,” commented Ellex CEO, Tom Spurling.
Ellex expects to release its half-year results for the year ended 31 December 2012 during the week beginning 25 February 2013.
Ellex Medical Lasers Limited (ASX:ELX) is a pioneer in the development of medical technologies for the diagnosis and treatment of eye disease. Since 1985, Ellex has evolved from a manufacturing company of primarily OEM products to direct marketing of its own branded products through subsidiaries in the United States, Japan, Germany and Australia, and a network of distribution partners in more than 100 countries. Today, more than 17,000 Ellex laser and imaging systems are used worldwide in the fight against blindness. In more recent times, Ellex has diversified its product range to include distribution of a number of complementary third-party ophthalmic products.