Retinal imaging company Optos has returned to profitability with post-tax profit of $1.5m for the six-month period ended March 2010.
Optos reported that gross margins improved to 66 per cent, and installations rose by 25, with 204 new sites compared to 179 de-installed.
Roy Davis, chief executive officer said that strong cash generation had led to much reduced net debt. There had been a further increase in the average number of optomap exams per site, at 109 per month. 'We have continued to make good progress in our R&D programmes and recent positive results from our clinical studies make us increasingly confident for the future of our business,' he said.
The company added that while the worst of the financial crisis appeared to be over, practitioners remained wary of investing heavily in new devices and patients were still watching their money. 'Despite this, we believe that the value of thorough wellness screening and diagnostics and digital imaging of medical care is increasingly recognised by patients and practitioners.'
As well as positive results from two clinical trials supporting optomap wide-field retinal examinations as 'gold standard' (News 07.05.10), results from a study with the Joslin diabetes research centre, on the importance of wide-field exams in the management of diabetes, are expected to be reported in the next few months.