ON TRACK FOR INCREASED SALES AND PROFITS IN FY16 FURTHER GROWTH EXPECTED IN FY17
- Full-year sales expected to be approximately $37M (11% growth) – within guidelines.
- Likely EBITDA ($4.5M-$5.5M) and NPAT ($2.8M- $3.2M) also within guidelines.
- Final numbers subject to audit. Full-year results expected to be announced in late August.
- Compumedics expects similar revenue growth in FY17, with potential to grow revenue base faster based on breakout potential of eHealth initiatives (Somfit & Nexus 360) and MEG. Profits will increase accordingly.
- Results achieved during a period of record investment, strongly reinforcing the company’s new high-growth, step-out initiatives: eHealth (Nexus 360 and Somfit) and MEG neuroimaging.
Compumedics Limited [ASX: CMP] – a leader in medical devices for sleep, brain and ultrasonic blood-flow monitoring – today announced that preliminary results show the company will generate increased revenue and profits in line with guidance for the full year ending 30 June 2016.
Full-year sales are expected to be $37 million (11% growth) while EBITDA is expected to be between $4.5–5.5 million and NPAT $2.8-3.2million.
Final full-year results will be subject to audit, and will be released to the Australian Stock Exchange around August 25, 2016.
The indicative results reflect several positive outcomes from the company’s continuing process of renewing growth in key world markets, as well as relocating key manufacturing activities to lower-cost economies.
Specifically, the company has achieved the following milestones in the past twelve months:
- A 14% increase in total orders taken for FY16 at $38.4m compared to $33.8m
- Continued outsourcing of manufacturing, with most main product lines transferred
- New low-cost Grael product line has commenced shipping
- Strategic discussions in relation to Somfit
- Strong commercial progress with key step out technologies including MEG brain imaging and digital health (Somfit consumer sleep project and clinical cloud)
More detailed analysis will be provided in the full-year results.
The company will conduct an investment roadshow in Melbourne and Sydney following the full-year results.
Currently, the proposed dates will be:
Melbourne – 29 and 30 August;
Sydney – 31 August and 1 September.