13th October 2015, SomnoMed Limited
(ASX:SOM) announced that an outstanding growth performance in US direct sales in Q1, 37.8% above the same quarter in the previous year and a new record of 6,888 devices sold, was the main accelerator which allowed SomnoMed to break another global quarterly sales record. The high growth in direct sales in the US and in other regions more than compensated for the drop in sales to licensees. As a result, global revenues grew in Q1 year on year by 30.1% to $9.64 million (unaudited). Revenues generated from the sale of MAS devices grew by 32.0% to $8.12 million (unaudited) and represented 83% of total revenues for the quarter.
During the quarter Europe performed solidly and in line with expectations growing by 18.3%, compared to Q1 last year, with 4,453 devices sold, whilst APAC/Japan posted sales of 1,498 units representing a growth of 13.5%. Total global sales for the first quarter were 12,846 units (+14.7%). The first quarter is usually subdued being the Northern summer quarter and the record sales growth was achieved despite US sales to licensees showing ongoing weakness in the traditional dental market.
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