Nanosonics’ stock continues to slide lower as the company’s revenue has squeezed in the financial year ended 30 June 2018. However, the FY18 results were in line with investor’s expectation as the company has heavily invested in its next generation Trophon2 which is anticipated to boost the company’s future revenue.
Last month, infection control specialist Nanosonics Limited reported decline of 10% in the company’ total sales to $60.7 million in FY18, delivering lower operating profit before tax of $5.6 million, compared with $13.9 million in the prior year.
The company indicated that this downturn in revenue is directly attributable to reduction in capital revenue and customer deferring purchases associated with advanced disinfection device, trophon2.
In the previous year, NAN has received approval for trophon2 from USA in April 2018 and from Europe in June 2018, following which the company has launched next generation device Trophon2 in first quarter of FY19. It is a next generation disinfection device which promises to provide the most advanced ultrasound high level disinfection solution in the world.
With the profound launch of the second generation trophon2 device, the company is expected to deliver promising results in the future. Further, the company visions to establish their Trophon technology as a standard of care with an expected launch of one or more new products by the end of FY20.
NAN share price has fallen by 1.54% to $3.2 on 13 September 2018 (4:40 PM AEST). There has been a performance change of 19.49% over the past one year. As of now, the stock traded at PE of 169.270 x with market capitalization of circa $972.87 million.
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