26 August 2016
Ellex Reports Full Year FY16 Audited Results
• Sales of $72.9m up 16% on prior corresponding period
• Profit before tax of $4.2m up 59% on prior corresponding period
Ellex Medical Lasers Limited (ASX:ELX), a global leader in medical devices for diagnosis and treatment of eye disease, today announced an operating profit before tax (PBT) of $4.2m for the year ended 30 June 2016. This represents a 59% improvement on the PBT reported for the year ended 30 June 2015.
“This is the fourth consecutive year of revenue and profit growth both in absolute terms and as a percentage of sales” commented Ellex CEO Tom Spurling.
The improved sales has three components, namely:
• Positive impact of organic growth in sales of Ellex-branded product in USA, Asia, Europe and Japan of 15% (A$9.5m)
• Positive impact of lower Australian dollar against US$, Euro and YEN 11% (A$7.2m)
• Discontinuation of contract manufacturing and lower margin third party product sales that has reduced revenue by 10% (A$6.5m)
“The improvement in sales of Ellex-branded products during the year, particularly in China, is testimony to the benefit of our product development program. The turnaround of our business in Japan has also had a major impact on the performance improvement. Sales of iTrack into the fast-growing minimally invasive glaucoma surgical devices market in the USA also contributed well.”
Commenting on the outlook for the business in 2017 Mr Spurling stated: “Ellex has multiple growth opportunities with its world-leading product portfolio and over the last 4 years has been steadily and profitably growing. Subject to global economic conditions and the Australian dollar exchange rate versus the Yen, US$ and Euro, we expect this growth to continue in 2017 and are planning accordingly.”
Ellex designs, develops, manufactures and sells innovative products that help eye surgeons around the world to effectively and efficiently treat eye disease. Ellex is a world leader in this field. Headquartered in Adelaide, Australia, Ellex has ophthalmic lasers and devices that treat glaucoma, retinal disease primarily caused by diabetes, secondary cataract and vitreous opacities, as well as age-related macular degeneration. Manufacturing is carried out in Adelaide, Australia and Fremont, California. Sales and service directly to eye surgeons is conducted via subsidiary offices in Minneapolis, Lyon, Berlin and Tokyo. A network of more than 50 distribution partners around the world services other markets.
For additional information about Ellex and its products, please visit www.ellex.com
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