RNS Number : 8488U
CustomVis plc
01 July 2009
Embargoed until 7am 1 July 2009
CUSTOMVIS PLC
('CustomVis' or 'the Group')
Trading Update
CustomVis (AIM: CUS), the leading developer, manufacturer and distributor of solid state laser systems for the refractive surgical industry is pleased to announce it has signed a contract for a further cash sale of its Pulzar Z1 laser.
This latest cash contract is in France, a key European target due to it being an established market for corrective laser surgery. The sale follows a recent industry conference in Nice where Dr van Saarloos, the Company's chief executive, was a key speaker. It is expected that the installation will take place in mid-July, when full payment will be received.
The Group's recent cash sale to Iraq has now been completed, with installation of the laser being completed on 29 June 2009. This results in the sale being recognised in the financial year to 30 June 2009, under the Group's accounting policy.
The Directors expect revenue for the year to 30 June 2009 to be slightly higher than the market expectation of £1.7million.
Paul van Saarloos, CEO of CustomVis, commented, 'This is our second cash sale in a very short period and is another step towards the Group achieving its milestone of being cash flow positive. We are also pleased that CustomVis continues to achieve sales during this period of economic uncertainty, an achievement due to the excellence of our product and determination of our engineering and sales teams.'
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For further information, please contact:
CustomVis plc
Simon Carroll, Chairman +61 419 304 906
Paul van Saarloos, CEO +61 410 497 456
John East & Partners Limited
(A subsidiary of Merchant Securities plc)
David Worlidge 020 7628 2200
Leander PR
Christian Taylor-Wilkinson 07795 168 157
Notes to Editors:
CustomVis is an innovative company in the laser vision correction industry, with a focus on custom surgery.
The CustomVis PULZAR Z1TM system incorporates a solid state laser, solid state scanning integrated with rapid eye tracking devices to track the movement of the patient's eye, and the ability to incorporate data from a variety of diagnostic systems into surgical planning software and the treatment process.
CustomVis was established in March 2001 (listed on AIM July 2003) to enhance the field of laser vision correction ('LVC'). LVC surgery involves the use of a laser to re-shape the cornea to try to correct visual abnormalities.
Currently, the most common form of LVC surgery utilises excimer (gas) laser technology, which the Directors believe has important technical limitations, such as, slower pulse rates and larger beam spot sizes of the laser that can influence the surgical outcome as well as limited gas lifetime and excessive maintenance. The CustomVis PULZAR Z1TM System was designed to address these issues and meet the requirements of effective custom LVC surgery.
This information is provided by RNS
The company news service from the London Stock Exchange
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