LES ULIS, France--(BUSINESS WIRE)--Regulatory News:
For the first quarter of 2017, the QUANTEL Group (Paris:QUA) is reporting €15.4 million of revenues, down 8% compared with the same period the previous year, which included billing for a €2.9 million tender in India in January. Excluding revenues for India, growth for the first quarter comes out at 11.6%.
First-quarter consolidated revenues
|Revenues (€M)||2016||2017(1)||Change||Change excl. India tender|
|Industrial and Scientific Products||5.0||6.1||+20.1%||+20.1%|
|Medical / Ophthalmology||9.0||6.8||-23.8%||+13.3%|
(1) Unaudited provisional figures
Industrial and Scientific Division
The Industrial and Scientific Division achieved 20.1% revenue growth in the first quarter of 2017 compared with the first quarter of 2016, which is encouraging following the industrial market's contraction in 2016.
The major contracts - MegaJoule and military - are making good progress and moving forward in line with the schedules set.
The Ophthalmology Division’s sales benefited from the billing recorded in January 2016 following the major tender won in India for a total of €2.9 million. This non-recurring sale was not renewed and this is reflected in a 23.8% drop in revenues. However, excluding India, revenues are up 13.3%, thanks in particular to the good start made by the new Easyret product.
In view of this first quarter, the Company is maintaining its objective to keep full-year revenues at a very similar level to 2016 by offsetting the absence of the Indian contract through growth for the Industrial and Scientific Division and the Ophthalmology Division.
Next date: half-year revenues on July 27, 2017
Founded in 1970, Quantel is one of the world's leading specialists in laser technology for scientific (laboratories and universities), industrial (material processing, process analytics, marking) and medical (ophthalmology) markets. With design and manufacturing facilities in France and the US, the Quantel Group achieved in 2015 a turnover of 62 M€, with close to 70% worldwide, divided into scientific and industrial laser applications (56%) and medical applications (44%).
Quantel shares are listed on the Euronext Paris C Compartment. FR0000038242 – QUA www.quantel.fr