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EOS imaging Reports Sharp 45% Increase in Revenues in the First Half of 2014

EOS imaging (Euronext, FR0011191766 – EOSI – Eligible for PEA: French SME Share Savings Schemes) (Paris:EOSI), the pioneer in 2D/3D medical orthopedic imaging, today announced its consolidated half-year revenues for the period ended June 30, 2014.

€m June 30, 2014   June 30, 2013   % Change
Sales of equipment 5.86   4.31 36%
as a % of total revenues 82%   88% -
Sales of services 0.93 0.60 55%
as a % of total revenues 13%   12% -
Sales of consumables and related services 0.32 - n/a
as a % of total revenues 5%   -  
Total revenues 7.12   4.91 45%
Figures subject to limited review
  • Sharp increase in sales in the first half of 2014: up 45% to €7.12 million

The Company sold 15 EOS® systems during the first half, compared to 11 during the same period last year. With a stable average selling price of €391,000, revenues from sales of equipment totaled €5.86 million, an increase of 36%.

Sales of services, which were driven by the increase in installed equipment under contracts, rose by 55% to €0.93 million compared with €0.60 million last year.

Sales of consumables and related services by the Company’s OneFit Medical subsidiary amounted to €0.32 million in the first half of 2014.

  • The strong growth in international sales was driven by momentum in Europe and Asia in the first half of 2014
€m June 30, 2014   June 30, 2013   % Change
EMEA 3.22   2.28 41%
North America 1.18 2.63 -55%
Asia Pacific 2.72   - n/a
Total revenues 7.12   4.91 45%
Figures subject to limited review

EOS recorded excellent sales momentum in Asia during the first half of 2014, which included the sale of seven systems, generating revenues of €2.72 million.

The performance in Asia offset the impact of the downturn recorded in the North American market, where sales decreased by 55% to €1.18 million in the first half of 2014, compared with €2.63 million at the end of June 2013.

EOS continued to register robust growth in the EMEA Region (+41%), where it generated revenues of €3.22 million as compared to €2.28 million last year.

  • Acceleration in growth in the second quarter of 2014: up 65% to €4.96 million
€m   2014   2013
  Q1   Q2   Q1   Q2
Sales of equipment 1.56   4.30 1.60   2.71
as a % of total revenues   72%   87%   73%   90%
Sales of services 0.45 0.48 0.30 0.30
as a % of total revenues   21%   10%   27%   10%
Sales of consumables and related services 0.15 0.17 - -
as a % of total revenues   7%   3%   -   -
Total revenues   2.16   4.96   1.90   3.01

Figures subject to limited review

EOS imaging sold 11 EOS® systems in the second quarter of 2014 and generated revenues of €4.96 million, an increase of 65% as compared to the second quarter of 2013.

Marie Meynadier, CEO of EOS imaging, made the following comments: “Our positive half-year performance reflects the ongoing adoption of our technology in new markets. Our excellent momentum in the Asian and European markets enabled us to register strong growth during the half-year despite a challenging environment for capital equipment in the North American market. We are pursuing our marketing strategy in order to ensure the increased adoption of EOS in the three major markets where we currently operate.”

For more information, please visit www.eos-imaging.com.

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 31 countries, including the United States (FDA), Japan, Canada, Australia and the European Union (EU). Backed by an installed base of 90 sites and more than 400,000 imaging sessions, EOS® benefits from worldwide recognition within the global medical community. As of December 31, 2013 the Group posted 2013 consolidated revenue of €15.2 million and employed 101 people including an R&D team of 38 engineers. The Group is based in Paris and holds four subsidiaries in Besançon (France), Cambridge (Massachusetts), in Montreal (Canada) and Frankfurt (Germany), and offices in Singapore. For further information, please visit www.eos-imaging.com

EOS imaging is listed on Compartment C of Euronext Paris

ISIN: FR0011191766 – Ticker: EOSI

Next press release: 2014 first half results, on Sept. 1, 2014 (after market).

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