optiscan another big win at ddw

Excerpt from this morning's announcement:

During meetings held at DDW this week, Pentax confirmed end user pricing arrangements for ISC 1000 flexible endo-microscopes in global markets. This has enabled Optiscan and Pentax to calculate royalty payments that will become due upon sales of flexible endo-microscopes. By agreement of both companies, an equivalent amount will be included in the price invoiced to Pentax on shipment of each miniaturised scanner.

The agreement benefits Optiscan by advancing the receipt of royalties to the standard 45 day payment terms applying to scanner invoices. Prior to the agreement royalties would have been calculated twice annually based on Pentax endo-microscope sales in each sales region and then paid to Optiscan in arrears.

“This agreement enables Optiscan to receive more timely royalty payments.” said Matthew Barnett, Optiscan CEO. “Earlier receipt of royalties reduces our net outlay in working capital as we continue to increase our scanner production.”

there is more: read the ann.