COMPUMEDICS LIMITED BENEFITS AS US MARKET CHOOSES QUALITY
Leading medical devices company, Compumedics Limited (ASX:CMP) today announced it has won several large sleep-diagnostic equipment sales in its key US market in the first months of calendar 2009.
Melbourne Australia, Wednesday, 22 April, 2009
Leading medical devices company, Compumedics Limited (ASX:CMP) today announced it has won several large sleep-diagnostic equipment sales in its key US market in the first months of calendar 2009. The orders have been around $285k (USD200k) each.
The hospitals and medical institutions which placed these orders demand quality, technical innovation and reliability and, as such, Compumedics is a natural vendor of choice. Importantly, some of these deals displaced equipment provided initially by existing competitors, which confirms Compumedics’ technological lead in its range of sleep-diagnostic equipment.
Compumedics’ range of laboratory-based, ambulatory and home-based sleep-diagnostic equipment is extremely well suited and flexible in configuration to meet the current and future needs of large, premium and demanding sleep-diagnostic centers.
This new business increments that detailed in our recent announcement regarding the achievement of a major milestone for our newly established Germany based sleep-diagnostic equipment business after winning a $400k (€220k) order for equipping a 12-bed sleep-diagnostic center in a prestigious German hospital.
The recent success in the US with larger orders and the winning of the German contract confirms Compumedics’ strategic advancement and progress in developing its key US and European markets and the Company’s continued focus on key global markets, despite the economic conditions that may exist from time-to-time.
Compumedics recently announced for the six-month period to 31 December 2008, a $2.5 m NPAT, the highest level of operating cash for any six-month period in more than 4 years and the fifth consecutive, positive six-monthly operating cash report to market. Over the past three years, the Company’s earnings have increased by AUD5.0 m, the bank debt reduced from AUD6.5 m to AUD1.9 m, manufacturing gross margins have improved by 7%, and costs have reduced by AUD5.0 m. The Company has also consistently generated positive cash over this period and is now well positioned for accelerated global expansion such as reported here.
For Further information:
Mr David Burton
Executive Chairman, CEO
Phone: + 61 3 8420 7300
Fax: +61 3 8420 7399
Mr David Lawson
Chief Financial Officer
Phone: + 61 3 8420 7300
Fax: +61 3 8420 7399
Investor Relations & Media Enquires:
Mr Rod North
Executive Director
Bourse Communications Pty Ltd
Phone: +61 3 9510 8309
Mobile: +61 (0) 408 670 706