Nanosonics reports half year financial results
HIGHLIGHTS
First half sales of $36.1 million, up 33% on prior half ($27.2 million) and up 132% on prior
corresponding period ($15.6 million).
Operating profit before tax of $10.3 million, up 203% on prior half ($3.4 million) and compares
with an operating loss of $3.2 million in prior corresponding period.
Free cash flow for the half year of $8.2 million, up 19% on prior half ($6.9 million) and
compares with negative free cash flow of $5.0 million in the prior corresponding period.
Cash reserve of $56.9 million, maintains strong balance sheet to support growth strategy.
All regions contributing to growth with strong sales in North America continuing.
Managed Equipment Service (MES) model gaining traction in the United Kingdom.
Nanosonics Canada direct operations established and direct selling commenced in second
half.
Preparations for further geographical expansion continued with distribution negotiations
taking place in Japan and Middle East.
R&D activities associated with our product portfolio expansion and multigenerational
trophon program are progressing well with increased investment made in the half.
