Nanosonics triples revenue from Trophon EPR sales

Nanosonics (ASX:NAN) nearly tripled its revenue and shaved its losses by well over half in FY12, thanks to strong sales of its lead product, disinfection tool Trophon EPR.

The company reported revenue for the financial year of $13 million, up 295% from FY11. The net loss for the year meanwhile fell 58% to $4.7 million.

Nanosonics attributed the gains to increased momentum behind Trophon EPR – an ultrasound high-level disinfection system for hospitals and other healthcare facilities – in its key markets.

In Australia and New Zealand, the installed base of Trophon EPR cabinets edged passed the 600 unit milestone.

Exclusive North American distribution partner GE Healthcare also placed its first orders for the US and Canadian market during the financial year.

Nanosonics CEO Dr Ron Weinberger said the results for the period demonstrate the potential of Trophon EPR. “Although we are still in the early stages of commercialisation, the positive customer feedback and word of mouth referral is particularly pleasing,” he said.

Weinberger noted that more than 90% of sites which trial the cabinets have been going on to purchase them.

Nanosonics' bottom line also benefited from a reduction in operating expenses to $13.5 million in FY12 from $14.2 million a year earlier, although staffing costs grew by $1 million to $7.7 million over the same period.

Nanosonics has been appointing personnel to assist in the commercialisation of Trophon EPR. Just a few weeks ago, the company appointed experienced biotechnology marketing executive Michael Kavanagh as its newest executive director.

During the year, Nanosonics raised $15.5 million through a share placement and also secured an investment from GE Healthcare's healthymagination fund.

Nanosonics (ASX:NAN) shares were trading 3.12% higher at $0.495 as of around 2pm on Monday.