Quarterly Cash Flow Statement
HIGHLIGHTS
Fourth quarter sales of $4.132 million in line with plan during transition phase.
Full year sales of $22.214 million in line with expectations.
Strong balance sheet to support growth strategy with cash reserve of $45.724
million.
Installed base growing strongly in North America with over 5,000 trophon® EPR
units now in use.
North American direct sales operations now established and operational with
strong pipeline for direct sales building.
New pivotal study results presented at Society for Healthcare Epidemiology of
America (SHEA) and Association for Professionals in Infection Control and
Epidemiology (APIC) in May and June showing trophon EPR is the only high
level disinfection system for ultrasound probes proven to be effective against
high risk cancer causing strains of human papilloma virus support trophon
adoption.
Relocation to new global headquarters, manufacturing facility and R&D centre
now fully completed.
Nanosonics (ASX: NAN), a leader in infection control solutions, today released its
Appendix 4C Quarterly Report for the quarter ended 30 June 2015.
Sales in the fourth quarter were $4.132 million which were in line with plan as the
company successfully continued through the transition phase of establishing direct
sales operations in North America.
Importantly sales to customers continued to increase strongly during the quarter with
the installed base in North America now in excess of 5,000 units.
Cash at the end of the quarter totalled $45.724 million which provides a strong balance
sheet to support the Company’s growth objectives.
Sales for the total year of $22.214 million were up 3.4% despite the foreshadowed lower
purchases from GE Healthcare during the transition to a non-exclusive partnership and our
direct sales model.
Nanosonics’ North American direct sales organisation has now been successfully
established. Recruitment for all sales territories is complete with all sales professionals
trained and focussed on building the pipeline for direct sales. Warehousing, service
operations and order procurement facilities are now in place and operating effectively.
“The fourth quarter has been a very busy period and one of significant achievement for
Nanosonics,” said Michael Kavanagh, Nanosonics’ Chief Executive Officer and
President. “Our direct operations in the United States are now fully operational and we
are very pleased with the high calibre sales professionals we have attracted to the
organisation and the speed by which the operations have been established and gaining
traction”
“Customer feedback to our direct operations has been very positive and a number of
important contracts with Integrated Delivery Networks (IDNs) in the USA were signed
during the quarter. Our current focus is on building a strong pipeline for direct sales,
which is progressing positively.
“Sales in Europe continue to grow led by the UK where new guidelines were introduced
this year in Wales with further new guidelines from England and Scotland expected in
the first half of FY16. A new Nanosonics facility was also opened in the UK during this
quarter”
“In May we announced the results of a significant clinical study conducted by researchers
from Penn State College of Medicine and Brigham Young University. The study
demonstrated that trophon EPR is the only high level disinfection system for ultrasound
transducers proven to be effective against high-risk cancer causing strains of human
papilloma virus. The results of this study have been presented at two national conferences
in the USA and a publication is currently under review in a peer reviewed journal. The
outcomes of this study further highlight the opportunity for trophon EPR to become the
standard of care in North America.
“In May we successfully moved to our new Global Headquarters, manufacturing facility and
R&D centre in Lane Cove, Sydney. These new facilities which more than double the space
available to the Company are now fully operational resulting in increased flexibility in
manufacturing capacity and efficiency. New ‘state of the art’ research and development
laboratories have also been built at the new facility to further support our ongoing R&D
capabilities and pipeline activities”.
Michael Kavanagh
CEO / President
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