28th January 2015, SomnoMed Limited (SOM:ASX) is pleased to announce Q2 sales of 13,575 units, which set a new quarterly record and brought the first half volume to a total of 24,775 units, in line with its guidance for the July to December six month period. Sales in December were the company’s highest ever for an individual month, with over 5,000 units sold.
Strong growth was achieved in the US during the second quarter, which saw unit sales increase by over 30% compared to the same quarter in the previous year, and resulted in global volume growth for the second quarter of 21.8%.
“We are very pleased with the development of our operation in the US, with Q2 volume growth of 30.3%, following growth of 16.2% in the previous quarter. This increased growth is a result of continuing improvements in our dental, medical and managed care sales operation and reflects the initial contributions from our new products,” said Dr. Peter Neustadt, Executive Chairman of SomnoMed Limited.
Europe grew its sales in the first half by 18.8%, compared to the corresponding half year period in the previous year. “Excellent growth was experienced in our emerging markets in Norway and Belgium. Sales in our European core markets were slower than expected in the second quarter, especially in December, as general demand in Holland, Germany, France and Sweden was subdued. Staff recruitment for new markets is taking longer than expected. However, indications are that new markets will start to contribute positively in the second half,” said Dr. Neustadt.
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