COMPUMEDICS LIMITED — Annual Report 2007

Aug 29, 2007

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Financial update – highlights Financial update - details Business unit revenues Geographic revenues Key activities completed Early FY2008 performance Outlook – financial Outlook – technology Recap
Over view
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Slide 2
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Gross margins up 7% over the previous year to 59% Operating expenses decline $2.8m for FY2007 compared to FY2006. Down $5m compared to FY2005 EBITDA up to $1.3m profit compared to prior year loss of $0.5m Profit after tax at $0.1m is $1.7m better than the prior loss of $1.6m
Financial update - details
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Borrowings were substantially reduced from $6.4m in the prior year to $3.4m at end of FY2007 Borrowing costs at $0.9m were 80% higher than the prior year’s $0.6m Sales in USA (+11%), Europe (+16%), Australia (+5%) and DWL (+6%) were up but not enough to counteract the fall in sales in Asia (-36%), the latter primarily being attributable to adverse temporary Chinese regulatory changes Net Foreign exchange was a $1m loss for FY2007 being a $1.3m adverse movement from FY2006
Financial update - details
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Slide 5
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2007 actual	36.7	58%	0.1	19.5	1.3	0.1
2006 actual	37.7	52%	1.3	22.1	(0.5)	(1.6)
2005 actual	38.2	53%	0.3	24.3	(2.6)	(4.7)
2004 actual	34.0	57%	0.4	16.8	2.9	2.4
	Revenues ($m)	Margins %	Other income	Operating Expenses	EBITDA	NPAT

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2007
at constant
Revenues stable exchange rates
2006
2005
2004
DWL acquisition
2003
stabilised despite rising Australian dollar and significant cost reductions
Neuroscan acquisition 2002
40 35 30 25 20 15 10 5 0
AUDm
Total group sales
Financial update - details
Slide 7
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2007
2006
2005
2004
2003
improving as a result of on-going restructuring and
2002
60 50 40 30 20 10 0
%
Financial update - details
Gross Margins % cost improvements programs and despite the surging Australian dollar
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Slide 8
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2007
2006
2005
2004
two years DWL acquisition
continue to decline - $5m over the last
2003
Neuroscan acquisition 2002
25 20 15 10 5 0
AUDm
Operating Expenses
Financial update - details
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2007
2006
2005
2004
2003
2002
returned to profitability at current revenue levels
3 2 1 0 -1 -2 -3
EBITDA
AUDm
Financial update - details
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Slide 10
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2007
2006
2005
DWL acquisition
2004
Neuroscan acquisition 2003
paid down through some fairly tough times
2002
9 8 7 6 5 4 3 2 1 0
Bank debt
AUDm
Financial update - details
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Slide 11
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2007
2006
2005
2004
2003
escalate despite debt repayment
2002
0.7 0.6 0.5 0.4 0.3 0.2 0.1 0
Bank costs
AUDm
Financial update - details
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2007
2006
shore group subsidiaries
Exchange movements relate largely to consolidation of off
2005
2004
2003
impacts adversely in current financial year
2002
0.6 0.4 0.2 0 -0.2 -0.4 -0.6 -0.8 -1
AUDm
Foreign exchange
Financial update - details
Slide 13
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2007
2006
Supplies/Service
2005
EEG/DWL
2004
stable across all business units with
2003
Brain research
2002
annuity-style supplies revenues increasing
20 18 16 14 12 10 8 6 4 2 0
Sleep
AUDm
Business unit revenues
Business unit revenues
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DWL 15% 14%
Europe
14%
Australia
MI
1%
Asia 13%
USA 43%
DWL 14% 11%
2007 FY
Europe
12%
Australia
USA 43%
Asia 20%
2%
Medical
Innovation (MI)
9%
Europe
2006 FY
DWL 16%
11%
Australia
Asia 17%
USA 45%
Geographic revenues
2005FY
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Neuvo
Nexus
Profusion PSG 3
Somte PSG
New Products
Outlook - technology
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Slide 21
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(TCD)
technology market
first discovered in the 1980s
and/or market position covering
3 of the key rapid growth new generation medical
No other company has the world’s leading technology Clinical Sleep Transcranial Doppler Computerised Cognitive
• • • Neuroscience/EEG brain function
Outlook - technology
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Sleep Heart Health Study
Sleep Market
Outlook - technology
Pioneering of computerised PSG (CMP;1987) and CPAP treatment discovery [Sullivan, CE (1981), Sydney Australia] 40% of the Australian Clinical EEG Market and 70% of the Australian Sleep Diagnostics Market. 10% USA market share and growing in sleep diagnostics. Developed and installed Australia’s first computerised sleep centre at Melbourne’s Epworth Hospital in 1988.
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(TCD) Market
Bilateral Doppler , Emboli differentiation Full digital Doppler
Transcranial Doppler
● ● ●
Developed by Dr. Rune Aaslid in 1982, today DWL’s client DWL has a strong market share in Germany and well established distribution networks in Europe World’s firsts include :
Outlook - technology
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Computerised Cognitive Neuroscience/EEG brain function
Outlook - technology
Pioneered by Neuroscan in 1989 Commands 90% of the US Market for Research EEG applications and a significant market share worldwide. Sells its products in over 50 countries worldwide to over 1500 universities, corporate laboratories and national research centres. First to commercialise high-density EEG/EP recordings, electromagnet source locationisation, merging of multi-modal neuroimaging data. World opportunity - $1.2b size of the industry of which we have less than 3% market share
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