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PRO MEDICUS LIMITED — Earnings Release 2009
Jul 6, 2009
65579_rns_2009-07-06_1e021358-c6fe-4587-8822-686c2a24a895.pdf
Earnings Release
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Pro Medicus Limited 450 Swan Street Richmond Victoria 3121 Australia T +61 3 9429 8800 F +61 3 9429 9455 promedicus.com
Tuesday 7th July 2009
Market Update
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Second-half profit higher than first half
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Despite stronger second half, full-year profit likely to be between 30% and 35% lower than 2007-08 year but well above market predictions
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Australian market contracted in line with expectations
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Visage acquisition performing at or above projections
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Visage Imaging technology sets basis for growth
Leading e-health company Pro Medicus (ASX: PME) today announced that the company’s unaudited preliminary full-year results indicate that profit will be lower than the 2007-2008 full-year result despite the second-half profit being stronger than the first-half.
The results for the second half include the benefits from a major project which had been delayed in the first half of the year.
Annual profit is down from last year due largely to: the loss of the Agfa income; establishment costs in the United States; and the predicted contraction in the Australian market, outlined in February 2009.
Pro Medicus Chief Executive Officer David Chambers stated: “The Australian market contracted as predicted in line with lower rate of uptake of digital technologies as the Industry starts to mature; but the Visage acquisition has been tracking better than expected in terms of integration and product development. We expect Visage’s consolidated trading result will be better than we predicted at acquisition date”.
“Going forward, the importance of the Visage acquisition to Pro Medicus cannot be over-stated, and we are expecting its new product technology will produce a strong basis for global growth. As indicated previously, these new products will take some time
Pro Medicus Limited ABN 25 006 194 752
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Pro Medicus Limited 450 Swan Street Richmond Victoria 3121 Australia T +61 3 9429 8800 F +61 3 9429 9455 promedicus.com
to ramp up, but the response even at this early stage has been extremely positive. We have recorded some significant wins with several prestigious institutions in both the USA and Europe, with interest for the product also growing in Australia”.
For further information:
Mr David Chambers Richard Allen Chief Executive Officer Oxygen Financial PR Pro Medicus Limited Ph: +613 9915 6341 Ph: +613 94298800
About Pro Medicus Limited
Pro Medicus Limited [ASX: PME] is Australia’s leading medical IT and e-health provider. Founded in 1983, the company provides a full range of integrated software products and services to individual, corporate and public health providers. More than 26,000 doctors are now connected to the company’s e-health service, promedicus.net, with the number of transactions across the network between general practitioners and specialists growing accordingly. A key growth area for the company is the adoption of its digital technology by radiology providers as they move away from analogue systems. An increasing number of Australian practices are taking up Pro Medicus’ digital technology and the company is now also making substantial inroads into the North American market. In late 2004, the company signed a watershed three-year $10 million deal with Agfa North America to exclusively license the Pro Medicus Practice Management and digital radiology software products for the large and rapidly growing private imaging centre market in the US and Canada. It subsequently announced a $2.6 million contract with a large Canadian radiology group which was completed in 2005. In 2007 and 2008 Pro Medicus achieved the predicted growth in the take up of its digital integration in the Australian private market, steady growth in its e-health offering, as well as recording ongoing growth in its export sales. In late January 2009 the company announced the purchase of Visage Imaging, a leader in advanced 3D visualization technology based in Carlsbad, California.
Pro Medicus Limited ABN 25 006 194 752