EOS imaging Reports 2012 Revenue Grows 35% to €9.41 million

Continued top-line growth with 21 units placed

PARIS--()--EOS imaging (NYSE Euronext, FR0011191766 – EOSI), the pioneer in 2D/3D orthopedic medical imaging, announced today its consolidated revenue for the full year and last quarter of 2012.

  • 2012: Steady revenue growth
                                   
In millions of euros             2012             2011             Var. as a %
Equipment sales 8.52 6.26 36%
% of total revenue             91%             90%             -
Service sales of 0.88 0.68 30%
% of total revenue             9%             10%             -
Total revenue             9.41             6.94             35%
Data currently being audited
 

EOS imaging recorded annual revenue of €9.41 million for 2012. With 21 EOS® Systems sold during 2012, compared with 16 in 2011, equipment sales rose 36% to €8.52 million, and sales of services rose 30% to €0.88 million.

During 2012, the average selling price per EOS System was €406,000, compared to €392,000 in 2011.

  • Geographical sales split: Remarkable momentum in North America
                                   
In millions of euros             2012             2011             Var. as a %
Europe 4.13 3.92 5%
% of total revenue             44%             56%             -
North America 4.32 2.02 114%
% of total revenue             46%             29%             -
Rest of the world 0.96 1.01 -5%
% of total revenue             10%             15%             -
Total revenue             9.41             6.94             35%
Data currently being audited
 

Sales momentum continued worldwide with foreign sales representing more than 80% of total revenue. North America sales increased strongly by 114% compared to 2011 and amounted to 46% of total revenue. Europe and Rest of the World contributions were 44% and 10% respectively. Europe sales totaled €4.13 million, a 5% increase resulting from a 3.6x increase in sales outside of France and partially offset by delays in French acquisition projects in 2012.

  • 4th quarter 2012 sales: 11 EOS Systems
                           
In millions of euros 2012 2011 Variation (%)
            Q1         Q2         Q3         Q4         Q1         Q2         Q3         Q4         Q1         Q2         Q3         Q4
Equipment sales 0.41         1.57         2.21         4.33 0.36         1.36         1.11         3.43 15%         15%         100%         26%
                                                                                                                             
Services sales 0.15 0.20 0.27 0.26 0.12 0.12 0.23 0.21 28% 62% 21% 23%
                                                                                                                             
Total revenue             0.56         1.77         2.48         4.60         0.48         1.48         1.34         3.64         18%         19%         86%         26%
Data currently being audited    
 

EOS imaging’s revenue for the fourth quarter of 2012 totaled €4.6 million, an increase of 26% compared with Q4 2011.

  • 2013 : Acceleration of growth

Sales and marketing investments in 2012 are expected to accelerate the Company’s growth in 2013.

EOS expanded its presence in leading hospitals in 2012, both in North America and the Asia-Pacific region, and broadened its coverage in Europe with first installations in several new European countries. The adoption of EOS by five of the Top 10 US orthopedic hospitals will contribute to the growth of the company in North America in 2013.

Marie Meynadier, CEO of EOS imaging, said: “We are very satisfied with the performance of the Company in 2012, which is in line with the business plan that was presented at the IPO. The Company is prepared to accelerate its commercialization in all areas of Company operations, and we are expecting high growth from the commercial investment made in 2012 in the Asia-Pacific region, the USA and Europe. Recently published clinical results and the adoption of EOS by top institutions confirm that our technology is recognized as a standard of care, and will also contribute to our development in 2013.

For more information on EOS and its technology, visit www.eos-imaging.com.

About EOS imaging:

The EOS imaging group 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 Group has obtained authorization to market the system in 30 countries, including the United States (FDA), Canada, Australia and the European Union (EU). Thanks to an installed base of 53 sites and more than 250,000 imaging sessions, EOS® benefits from worldwide recognition and established credibility within the medical community. The Group currently employs 63 people, including an R&D team of 23 engineers, and recorded consolidated revenue of €9.41 million in 2012. The Group's head office is based in Paris, with a subsidiary in the United States in Cambridge (Massachusetts), as well as in Montreal (Canada) and Germany. For further information, please go to: www.eos-imaging.com.

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

Next press release: 2012 financials on 18 April 2013 (after market).

Contacts

EOS imaging
Anne Renevot
CFO
Tel.: +33 (0)1 55 25 61 24
investors@eos-imaging.com
or
NewCap.
Financial communication and investor relations
Sophie Boulila / Pierre Laurent
Tel.: +33 (0)1 44 71 94 91
eosimaging@newcap.fr
or
The Ruth Group (US)
Press Relations - Lisa Cook
Ph: 646-536-7012
lcook@theruthgroup.com
or
ALIZE RP (Europe)
Press Relations
Caroline Carmagnol
Tel: +33 (0)1 42 68 86 43 / +33 (0)6 64 18 99 59
caroline@alizerp.com

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Contacts

EOS imaging
Anne Renevot
CFO
Tel.: +33 (0)1 55 25 61 24
investors@eos-imaging.com
or
NewCap.
Financial communication and investor relations
Sophie Boulila / Pierre Laurent
Tel.: +33 (0)1 44 71 94 91
eosimaging@newcap.fr
or
The Ruth Group (US)
Press Relations - Lisa Cook
Ph: 646-536-7012
lcook@theruthgroup.com
or
ALIZE RP (Europe)
Press Relations
Caroline Carmagnol
Tel: +33 (0)1 42 68 86 43 / +33 (0)6 64 18 99 59
caroline@alizerp.com