Optos revenues fall despite new customer wins

Eye scanner maker Optos today reported a 9.7 per cent drop in first-quarter revenues, but said it remained confident of delivering full-year sales growth.

The Dunfermline-based company said new customer numbers grew 10 per cent in the three months to the end of December, driven by demand for its Daytona retinal imaging device.

Although revenues fell to $36.4 million (£22.1m), from $40.3m a year earlier, as fewer customers leased the firm’s scanners, chief executive Roy Davis said the numbers were in line with expectations and Optos reiterated its guidance for full-year revenue growth in the low single digits.

He added: “We continue to see good growth in new customers, particularly within North America and Asia, which has translated into a 5 per cent increase in our installed base, although the European market remains challenging.”

Optos also announced today that it has secured a $30m three-year revolving credit facility with Bank of Scotland.