The results were above analysts forecasts.
Hopefully the results over the next few years, will meet or beat expectations.
The future still looks good:
BUSINESS OUTLOOK FY19
Nanosonics expects:
• Continued growth in installed base in North America with FY19 adoption similar to FY18.
• GE North America to rebuild inventory of capital equipment following launch of trophon2.
• Upgrades/replacements of trophon EPR units more than 5 years old to commence in FY19.
• Adoption in Europe to grow driven by:
• MES program in the UK to continue gaining momentum – expect FY19 new unit growth of 75% to 100% over FY18, of which 90% will be under MES.
• New guidelines in Germany as well as the launch of trophon2 to trigger broader adoption.
• New guidelines to be released in France by Ministry of Health.
Beyond FY19
Nanosonics expects:
• Continued growth in trophon installed base in all core markets as new guidelines continue to be released and the requirements for HLD of all semi-critical probes is understood and followed.
• Material increase in consumables sales and margin in North America from July 2019 resulting from new GE agreement.
• Further expansion into new markets.
• Ongoing development of new infection prevention solutions targeting one or more new products by end of FY20, subject to regulatory approvals.
NAN Price at posting:
$3.30 Sentiment: Hold Disclosure: Held
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