In November 2007 ContextVision announced its growth plan of going for doubling the 2007 revenue by 2010. This growth will partly be generated by existing products and customers but also to a large extent of new major product releases, especially image enhancement for three-dimensional ultrasound (GOP iCE US) and interventional radiology (GOPView iRV). Our product development is on schedule and in accordance with our communicated plans, where the GOPView iRV will be launched in November at the prestigious trade show RSNA with deliveries commencing early 2009. This product provides not only substantial image enhancement but also the possibility to significantly lower dose used in the examination process. The product GOPiCE US is currently in a very intensive development and clinical testing phase, showing very promising results of groundbreaking three-dimensional image enhancement, to be launched early April 2009.
Regarding the current two-dimensional image enhancement product line, a weaker market demand is sensed in some areas, mainly caused by our customers own increasing financial challenges. This is expected to some extent generate weaker short term sales.
Jan Erik Hedborg the company’s CEO commented: “We have for the past years shown an excellent growth combined with very strong profit margins, generated by a strong product portfolio and a broad customer base. We are now gearing up for future growth with another set of world class product releases. However, we estimate a slightly earlier than anticipated maturity in some of our current products, generating weaker short term sales before our new products will have full impact on revenues. I want to emphasis that our current product line continues to attract new customers and generating a solid revenue base, although at a lower growth pace than we have seen so far. That in combination with truly extraordinary performance of our coming product releases allows me to iterate our guidance of going for doubling the 2007 revenue by 2010, despite increased challenges”.
CEO Jan Erik Hedborg, +46 8 750 35 59