EOS imaging Achieves Strong Growth in 2014 Revenue: +33% to €20.1 Million

Regulatory News:

EOS Imaging (Paris:EOSI) (Euronext, FR0011191766 – EOSI), the pioneer in 2D/3D orthopaedic medical imaging, today announces its consolidated revenue for the fourth quarter and full year ended December 31, 2014.

• 2014 revenue growth driven by a new record for EOS® equipment sales

EOS imaging recorded annual revenue of €20.1 million in 2014, up 33%. Over the year, the Company sold 44 EOS® systems, compared with 34 in 2013.
Revenue from equipment sales was €17.3 million, up 28%. The average selling price was stable at €393 thousand per system.
Sales of maintenance contracts increased by 37% to €2.1 million, driven by the continued installation of EOS® systems under maintenance contracts.
Sales of consumables and services, mainly from the acquisition of OneFit Medical in 2013, totalled €0.8 million, compared with €0.2 million over the final quarter of 2013.

• Very robust growth in Asia-Pacific and strong upturn in the United States in the fourth quarter

In 2014, EOS imaging recorded moderate growth in the EMEA region with revenue totalling €8.7 million, up 5% compared with 2013. This performance reflects 76% growth in Europe outside of France, partially offset by a 31% decrease in revenue in France, which had record EOS® system sales in 2013 following a period of slower system sales in 2012.

In North America, EOS imaging recorded revenue of €5.9 million, a 21% increase compared to 2013. This increase was the result of a significant upturn in sales of EOS® systems in the fourth quarter (9 systems sold over the period, compared with 3 over the 4^th quarter of 2013) following three quarters of sluggish activity.

EOS imaging accelerated its growth momentum in the Asia-Pacific region in 2014, selling 14 systems over the year compared with 5 in 2013. Total sales in the Asia-Pacific region were €5.5 million, up 181% compared to 2013, and accounted for 27% of total Company revenue.

• Solid overall performance in the fourth quarter of 2014: +22%, with 21 systems sold

EOS imaging sold 21 systems and recorded revenue of €9.09 million in the fourth quarter 2014, up 22% compared with the fourth quarter of 2013.

• Active pursuance of growth, putting in place of additional financial means

The continued adoption of EOS® technology enabled the Company to increase sales across the EMEA, North America and Asia-Pacific regions in 2014, and this trend should continue in 2015 across all three regions, with additional growth from the Company’s planned entrance into the Latin American market.

Marie Meynadier, CEO of EOS imaging, said: "In 2014, we recorded excellent sales momentum on the Asian market, resulting in a large number of systems sold and a robust increase in revenue from the region. This outstanding performance offset the difficult hospital capital equipment environment in the United States through the first nine months of the year, although we did experience a substantial upturn in the fourth quarter that is expected to continue in 2015. The adoption of EOS® by additional major hospitals is continuing, driven by our marketing investments and by regulatory approvals in new countries, which widens our global market opportunity. Furthermore, the new treatment planning services and sales of consumables should help us develop our recurring revenue. We recently secured €15 million in additional financing that will strengthen the Company’s balance sheet with adequate resources until we achieve positive cash flow.”

For further information about the Company or about EOS®, the first low-dose 2D/3D imaging system enabling a comprehensive examination of the body, please go to our website: www.eos-imaging.com.

About EOS imaging:
EOS imaging designs, develops, and markets EOS®, an innovative medical imaging system based on technology that enabled George Charpak to win the Nobel Prize for Physics, as well as associated solutions. The Company is authorized to market in 47 countries, including the United States (FDA), Japan and the European Union (EU). As of December 31, 2014 the Group posted 2014 consolidated revenue of €20.1 million and employed 107 people including an R&D team of 39 engineers. The Group is based in Paris and holds four subsidiaries in Besançon (France), Cambridge (Massachusetts), Montreal (Canada) and Frankfurt (Germany), and offices in Singapore.

Next press release: 2014 annual results and Q1 2015 revenue, on 20^th April, 2015 (after market)

EOS imaging is listed on Compartment C of Euronext Paris
ISIN: FR0011191766 – Ticker: EOSI