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CMP 44.0¢

price cops a hiding

  1. arthur

    7,396 Posts.

    At a quick glance looks it could improve its bottom line if you can be a bit patient ,
    Business model in place with markets established for a product that is in demand .

    P/E 7.7 140,000,000 shares on issue market cap $33mill
    book value 24 cents.

    comments please


    Revised Financial Results for 2001/2002


    HOMEX - Melbourne

    The Board of Directors of medical diagnostics company, Compumedics
    Ltd (ASX:CMP) announces that the company's financial results for the
    financial year 2002 will be below the projections in its announcement
    to the Australian Stock Exchange on April 29, 2002.

    Based on preliminary financial results, the company expects to report
    consolidated operating revenue for the year of approximately $20
    million. While this result would represent a 20% increase on the
    previous year, it is around 10% less than the range indicated in the
    April announcement which was $22 to $24m. The lower than expected
    revenue is expected to result in the company recording an operating
    loss for the year compared to the April announcement where an
    operating profit range of $2.4 to $3.4m was estimated. These
    preliminary results are subject to final clarification and audit

    The lower revenue for the year is predominantly a result of lower
    than expected sales in the United States and European markets. The
    decision taken during this year to sell directly into these markets
    rather than through a distributor is now producing a greater rate of
    penetration into these important markets that have yet to convert to
    sales. The US market, the biggest in the world with 2400 specialist
    sleep treatment centres, is continuing to grow at well over 10% per

    Compumedics Executive Chairman, David Burton, said: "We know we have
    the technology the market wants and we now have clearer and direct
    access to the biggest markets in the world in the United States and
    Europe. We are now starting to see our investment in infrastructure
    within these vital markets bear fruit."

    The recently acquired Neuroscan neurological instrument business has
    performed to expectations and is likely to generate a small profit
    for the period. The full integration of Neuroscan into the rest of
    the Compumedics business is expected to deliver both technological
    and operational (manufacturing and distribution) synergies to the

    Improving the productivity of all company operations is a key area of
    focus for Compumedics. "We have world class technology and now the
    sales organisational infrastructure to get our products to market
    directly. We are committed to continuously improving the efficiency
    of all of our operations." Mr Burton said.

    Looking ahead, Mr Burton commented: "This year's result is
    disappointing, but we have made the necessary changes in order to
    drive the performance forward. The result this year does not alter
    the fundamentals. We have technology and products for the high growth
    sleep market. We have strengthened our position to penetrate that

    For further information:

    Mr David Burton
    Tel: + 61(0) 3 8413 7300
    [email protected]

    Mr David Lawson
    Tel. + 61 (0) 3 8413 7300
    [email protected]

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