NANOSONICS LIMITED Company Announcements Office Australian Securities Exchange
HIGHLIGHTS
Record quarter sales of $9.12 million up 41% on prior quarter driven by sales from North American direct operations.
Record half year sales of $15.58 million under revised North American business model.
Installed base in North America increases by over 1,000 units in the quarter, growing to over 6,700 trophon®EPR units.
Cash reserve of $42.628 million maintains strong balance sheet to support growth strategy.
GE Healthcare to recommence purchasing of trophon EPR units in current quarter.
Nanosonics (ASX: NAN), a leader in infection control solutions, today released its Appendix 4C Quarterly Report for the quarter ended 31 December 2015.
Second quarter sales revenue of $9.12 million was up 41% on prior quarter. This record result was primarily driven by strong sales through the Nanosonics' direct operations in North America as awareness and demand for trophon continues to grow.
The strengthening market fundamentals for the adoption of trophon as standard of care also saw the installed base in the quarter grow by over 1,000 units, which is record growth for a quarter. The current installed base is now over 6,700 units in North America.
Sales for the six months to 31 December 2015 were $15.577 million representing a record half.
Cash at the end of the quarter totalled $42.628 million providing a strong balance sheet for the Company to continue executing on its growth strategy.
"The December quarter is traditionally a strong sales quarter for medical devices in North America and has certainly been one of significant achievement and growth for Nanosonics," said Michael Kavanagh, Nanosonics' Chief Executive Officer and President. "Adoption of our trophon technology continues to grow strongly as customers look to implement superior decontamination solutions to mitigate the risks of cross contamination. Awareness of trophon as the only technology proven to kill cancer causing HPV continues to grow and is gaining traction in the market place in particular post the recent publication of this data in the Journal of Medical Virology.
"Our direct operations in North America continue to make excellent progress generating awareness, sales and strong pipeline growth. In this quarter one of the leading Integrated Delivery Networks (IDNs) in the United States made a significant purchase from Nanosonics as it commenced the adoption of trophon as standard of
Nanosonics Limited ABN 11 095 076 896 14 Mars Road, Lane Cove NSW 2066 Australia
Tel: +61 2 8063 1600 Fax: +61 2 8063 1600 Email:info@nanosonics.com.au w:www.nanosonics.com.au
care across its network of hospitals. As expected, during the quarter there were no sales of trophon units to our distribution partner GE Healthcare. However, sales by GE to end customers continued to be very strong, supporting the overall installed base growth of over 1,000 units for the quarter. GE Healthcare will recommence the purchasing of trophon units in this current quarter".
Investor conference call
Investors are invited to join a conference call hosted by Mr Michael Kavanagh, CEO and President of Nanosonics at 11.00am AEST on Friday 29 January 2016.
Conference ID: 4057 5715
Australian Participant Dial-in Numbers
Toll: +61 2 8038 5221 (can be used if dialing from international location)
Toll Free: 1800 123 296
International Participant Dial-in Numbers
Toll-free dial-in numbers for each country are listed below. For countries not listed below, the Australian Toll number provided above may be used.
Canada | 1855 5616 766 |
China | 4001 203 085 |
Hong Kong | 800 908 865 |
India | 1800 3010 6141 |
Japan | 0120 477 087 |
New Zealand | 0800 452 782 |
Singapore | 800 616 2288 |
United Kingdom | 0808 234 0757 |
United States | 1855 293 1544 |
An archive of the conference call will be available at www.obenbriefing.com.
Michael Kavanagh CEO / President
For more information please contact:
Michael Kavanagh, CEO / President or McGregor Grant, CFO, on (02) 8063 1600 Kyahn Williamson, Investor Relations, Buchan Consulting on (03) 9866 4722
Ben Oliver, Media Relations, Buchan Consulting on (03) 9866 4722.
About Nanosonics
Nanosonics Limited is developing a portfolio of decontamination products designed to reduce the spread of infection. The Company owns intellectual property relating to a unique disinfection and sterilisation technology which can be suited to a variety of markets. Initial market applications are designed for the reprocessing of reusable medical instruments. The Company's first product is designed to disinfect Ultrasound Transducers. For more information about Nanosonics please visit www.nanosonics.com.au
Name of entity
ABN Quarter ended ("current quarter")
Current quarter $A'000 | Year to date (6 months) $A'000 |
7,216 (5,466) (167) (131) (774) (774) (587) (1,915) 342 - - 40 | 13,638 (9,817) (334) (238) (1,337) (1,280) (1,041) (4,217) 646 - (5) 40 |
(2,216) | (3,945) |
Cash flows related to operating activities
Receipts from customers
Payments for:
staffing costs
intellectual property
quality and regulatory management
business development
premises, plant and equipment
external consultants and advisors
other operating costs, including working capital
Dividends received
Interest and other items of a similar nature received
Interest and other costs of finance paid
Income taxes refund received (paid)
Other (R&D Tax Incentive/EMDG)
Net operating cash flows
Current quarter $A'000 | Year to date (6 months) $A'000 | ||
1.8 | Net operating cash flows (carried forward) | (2,216) | (3,945) |
1.9 1.10 1.11 1.12 1.13 1.14 | Cash flows related to investing activities Payment for acquisition of:
Proceeds from disposal of:
Loans repaid by other entities Other (provide details if material) Net investing cash flows Total operating and investing cash flows | - | - |
- | - | ||
- | - | ||
(140) | (906) | ||
(116) | (133) | ||
- | - | ||
- | - | ||
- | - | ||
- | 23 | ||
- | - | ||
- | - | ||
- | - | ||
- | - | ||
(256) | (1,016) | ||
(2,472) | (4,961) | ||
Cash flows related to financing activities | - | - | |
1.15 | Proceeds from issue of shares and exercise of options | ||
1.16 | Net proceeds from issue of convertible note | - | - |
1.17 | Proceeds from borrowings | - | 2,048 |
1.18 | Repayment of borrowings | (93) | (133) |
1.19 | Interest paid | (25) | (25) |
1.20 | Share issue costs | - | - |
Net financing cash flows | (118) | 1,890 | |
Net increase (decrease) in cash held | (2,590) | (3,071) | |
1.21 | Cash at beginning of quarter/year to date | 45,468 | 45,724 |
1.22 | Exchange rate adjustments to item 1.21 | (250) | (25) |
1.23 | Cash at end of quarter | 42,628 | 42,628 |
Nanosonics Limited issued this content on 29 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 February 2016 08:15:28 UTC
