FPH
20/02/2013 14:01
FORECAST
REL: 1401 HRS Fisher & Paykel Healthcare Corporation Limited
FORECAST: FPH: FPH Raises Earnings Guidance, Introduces New Full Face Mask
FISHER & PAYKEL HEALTHCARE RAISES EARNINGS GUIDANCE, INTRODUCES NEW FULL FACE
MASK
Auckland, New Zealand, 20 February 2013 - Fisher & Paykel Healthcare
Corporation Limited (NZSX:FPH, ASX:FPH) announced today that it had raised
its earnings guidance and has introduced a new full face mask range for use
in the treatment of obstructive sleep apnea (OSA).
Despite the continuing strength of the NZ dollar, the company now expects net
profit after tax to be approximately NZ$75 million for the financial year
ending 31 March 2013, assuming a continuation of current exchange rates. At
its previous guidance update in November 2012, the company said it expected
full year net profit to be in the range of NZ$69 million to NZ$72 million.
"Sales growth during the second half has been very encouraging, particularly
for our respiratory consumables and recently released Eson and Pilairo OSA
masks. We are expecting constant currency operating revenue growth for the
second half to increase to approximately 14%, up from 8% for the first half.
We are currently on track for second half RAC and OSA constant currency
revenue growth to increase to about 18% and 10% respectively", commented
Michael Daniell, Fisher & Paykel Healthcare's CEO.
"Operating margin has also continued to improve as a result of new products,
operating efficiency gains and manufacturing at our Mexico facility".
The company also announced an expansion of its full face mask offering, with
the introduction of the F&P Simplus(TM) full face mask for use in the
treatment of OSA.
"The new Simplus full face mask incorporates three key technologies, our
patented RollFit Seal, ErgoForm Headgear and Easy Frame, which in combination
deliver exceptional comfort, seal and ease of use.
Our innovative technologies, including RollFit, have significantly advanced
mask simplicity and performance, contributing to improved patient care
through reducing complexities associated with fitting and sealing. The
initial response from customers to Simplus has been very positive and we are
confident that Simplus will build on the success of our Pilairo and Eson
masks", concluded Mr Daniell.
The F&P Simplus mask will initially be available in New Zealand and Australia
from April, followed by Canada and Europe and then the United States on
receipt of US FDA clearance.
The Simplus full face mask complements the Pilairo(TM) nasal pillows and
Eson(TM) nasal masks, which were introduced to the company's international
markets during 2012.
Contact: Michael Daniell, MD/CEO on +64 9 5740161 or Tony Barclay, CFO on +64
9 574 0119. For more information about the company visit www.fphcare.com
End CA:00233179 For:FPH Type:FORECAST Time:2013-02-20 14:01:55
