EOS imaging Reports 60% Revenue Growth for First Nine Months of 2013

EOS imaging Reports 60% Revenue Growth for First Nine Months of 2013

Sustained growth in the third quarter of 2013

Strong increase in North American sales


PARIS--(BUSINESS WIRE)-- Today, EOS imaging (Paris:EOSI)(NYSE Euronext, FR0011191766 - EOSI), the orthopaedic 2D/3D medical imaging pioneer, announced its revenues for the third quarter and nine months as of September 30, 2013.

           
€m30 Sept. 2013

9 months

30 Sept. 2012

9 months

% change
    
Equipment sales6.694.1960%
as a % of total revenues  87%  87% 
Sales of services1.000.6261%
as a % of total revenues  13%  13% 
Total revenues  7.69  4.8160%
Unaudited data
 
  • Sustained revenue growth over the first nine months of 2013

EOS imaging reported nine-month revenues for the period that ended September 30, 2013 of €7.69 million, an increase of 60% compared with the same period in 2012. The revenue increase would have been 63% excluding the impact of changes in foreign currency exchange rates.

Equipment sales rose by 60% to €6.69 million, up from €4.20 million in the same period of 2012. Equipment sales correspond to the sale of 17 EOS systems, compared with the sale of 10 EOS systems for the same period last year. The average sale price per system was €394,000 at current foreign currency exchange rates, and €400,000 at constant exchange rates.

Sales of services continue to expand, driven by the development of the installed equipment base under maintenance contracts, and amounted to €1.0 million for the nine months that ended September 30, 2013, up 61% from €0.62 million one year earlier.

  • Strong increase in North American sales
           
€m30 Sept. 2013

9 months

30 Sept. 2012

9 months

% change
      
Europe4.072.1589%
North America3.601.70x2.1
Rest of the world  0.02  0.96  NA
Total revenues  7.69  4.81  60%
Unaudited data
 

Revenues generated in Europe for the first nine months of 2013 were €4.07 million, an increase of 89% compared with the same period in 2012. Revenues generated in Europe included the sale of nine EOS systems, compared with four EOS in the same time frame last year.

EOS imaging delivered a strong increase in North American sales in the first nine months of 2013, with North American revenues more than doubling to €3.59 million compared from the first three quarters of 2012. The robust increase was driven by the sale of eight EOS systems, compared with four EOS systems sold in the same period of 2012. For the nine months that ended September 30, 2013, North American sales represented 47% of total revenues, compared with 35% in the same period of 2012.

  • Quarterly increase in business volumes
                  
€mQ1Q2Q3Q1Q2Q3

 

∆ Q2∆ Q3
  2013  2013  20132012  2012  2012

∆ Q1

Equipment sales1.602.712.380.411.582.20

290%

 

72%

 

8%
as a % of total revenues  84%  90%  89%  73%  89%  89%

-

 

 

-  -
Sales of services0.300.300.400.150.190.28

100%

 

58%45%
as a % of total revenues  16%  10%  11%  27%  11%  11%

-

 

 

-  -
Total revenues  1.90  3.01  2.78  0.56  1.77  2.48

239%

 

 

70%  12%
Unaudited data  
 

Revenues for the third quarter of 2013 were €2.78 million, an increase of 12%, driven by the sale of six EOS systems, compared with five in the same period of 2012.

Marie Meynadier, CEO of EOS imaging, noted: "EOS imaging's business volume increased by 60% over the first nine months of the financial year. Our business success continues into the fourth quarter, which is when we traditionally realize the major part of our yearly revenue. The growing interest in our technology was particularly evident at the Scoliosis Research Society Conference last September when, for the first time, our seminar brought together 60 spine surgeons from 15 countries. Our sales teams will continue to establish EOS' leadership in the orthopedic imaging market by growing the business beyond the 70 currently installed EOS locations worldwide, including the most prestigious orthopedic care centers."

About EOS imaging:

EOS imaging designs, develops, and markets EOS®, a revolutionary and patented medical imaging system, based on technology that enabled George Charpak to win the Nobel Prize for Physics. The Company is authorized to market the system in 30 countries, including the United States (FDA), Canada, Australia and the European Union (EU). Backed by an installed base of 70 sites and more than 400 000 imaging sessions, EOS® benefits from worldwide recognition within the global medical community. As of December 31, 2012 the Group posted 2012 consolidated revenue of €9.42 million and employs 70 people including an R&D team of 25 engineers. The Group is based in Paris and holds three subsidiaries in Cambridge (Massachusetts), in Canada at Montreal and in Germany, and offices in Singapore.

EOS imaging is listed on Compartment C of the NYSE Euronext Paris
ISIN: FR0011191766 - Ticker: EOSI

Next press release: Annual results 2013 on January 22, 2014 (after market).



EOS imaging
Anne Renevot, +33 (0)1 55 25 61 24
CFO
investors@eos-imaging.com
or
NewCap.
Financial communication and investor relations
Sophie Boulila / Pierre Laurent, +33 (0)1 44 71 94 91
eosimaging@newcap.fr
or
The Ruth Group (US)
Press Relations
Melanie Sollid-Penton, 646-536-7023
msollid@theruthgroup.com

KEYWORDS:   Europe  France

INDUSTRY KEYWORDS:

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