RETINAL imaging company Optos has secured a contract to supply devices to a large US-based optometry chain and signalled it is on course to hit its financial targets in 2013.
The Dunfermline firm said it has agreed a deal with HVHC, which has its headquarters in San Antonio, Texas, for its 100 Daytona machines being rolled out into Visionworks' US retail stores.
There are more than 600 Visionworks outlets across 40 states and Optos said the machines, smaller and more portable than its existing models, will be delivered during the next year.
Jeff Smith, chief medical officer of HVHC, said: "We are excited to have the Daytona technology available in the Visionworks locations which we believe will enhance the patient experience."
In a trading update Optos said the growth in its installed base of customers had increased by around 25% to 5962 instruments in the 12 months to September 30.
Included within that were 1145 of the Daytona devices, towards the upper end of its guidance.
The larger number of installed devices helped revenue in the second half of the year rise with Optos suggesting its full year revenue will be around $158 million (£99m), close to market forecasts but behind $193.2m in 2012.
Optos said it had been cash generative in the half-year period and indicated net debt will have fallen from $55.8m in February to $40m at the end of September.
Mr Davis said: "The key metrics for future financial performance have been highly encouraging this year. We have reported our strongest ever year of installations and Daytona is continuing to grow well. Overall I am pleased with the strong underlying business performance."
Profit before exceptional items and tax is predicted to be in line with market consensus which is around $8.4m.
Savvas Neophytou, at Panmure, expects profit to come in at $9.7m and retained a hold rating on the stock.
He added: "Daytona was strong [and at the] top-end of previous guidance.
"We do, however note that Optos has significant exposure to the US market already, which is currently in shut-down so at this stage we will be cautious with forecasts."
Julie Simmonds, at Canaccord Genuity, re-iterated a buy rating and said: "Cost-cutting measures remain on track, as does the margin enhancement program, giving us confidence in the improving profitability in 2014.
"With the broadening of the product portfolio allowing access to a wider market in the US (both higher end clinical sites and smaller practices) and also more geographies the opportunity for a continued rapid expansion is substantial."
Shares closed down 0.25p, or 0.16%, at 152p.
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