SOURCE: Mauna Kea Technologies

October 15, 2012 11:45 ET

Mauna Kea Technologies Reports Third Quarter 2012 Sales

Third Quarter Sales Increase 86% Year Over Year; Sales Up 91% in the First Nine Months of 2012

PARIS--(Marketwire - Oct 15, 2012) - Mauna Kea Technologies (NYSE Euronext: MKEA), a leader in the field of optical biopsy, today announced its sales for the third quarter and first nine months of the year ended September 30, 2012.

Thousands Euros (EUR ) - IFRS  2012  2011  Variation %
Q1 1,611 631 +155%
Q2 1,907 1,189 +60%
Q3 2,069 1,111 +86%
Total Sales as of 9/30/2012 5,587 2,931 +91%

Third quarter sales increase 86% year over year

Supported by continued strong sales of Cellvizio® systems and probes to hospitals, sales for the third quarter of 2012 grew 86% to EUR 2.069 million, compared to the same quarter of the previous year. Sales to hospitals and clinics, the company's key market, doubled to EUR 1.999 million year over year, while sales to pre-clinical research laboratories decreased 36% to EUR 70,000 during the third quarter.

When broken down by product type, the company reported that third quarter sales of Cellvizio systems grew 72% to EUR 1.290 million year over year. Sales of multi-use confocal miniprobes were up 140% to EUR 609,000 during the third quarter, indicating growing utilization trends at the hospitals and clinics where systems are installed and strong validation of the company's recurring revenue model. In addition, the sale of services in the third quarter increased by 56% compared to the same period last year.

Sales Increase 91% During First Nine Months of 2012

Overall sales through the end of the third quarter were EUR 5.587 million, an increase of 91% compared to the same period last year. Sales of Cellvizio systems to hospitals and clinics grew 85% to EUR 4.861 million, while sales of Cellvizio systems for pre-clinical research increased 141% to EUR 727,000. Total sales to hospitals and clinics represented 87% of the revenue through Q3 2012, while pre-clinical sales constituted the other 13% of revenue.

When broken down by product type, sales of Cellvizio systems for the first nine months of 2012 doubled to EUR 3.737 million year over year, while the sales of multi-use confocal miniprobes grew 127% to EUR 1.458 million. The sales of services were down 7% to EUR 392,000 during the first nine months of the year.

Sales in the Americas region represented 61% of revenue during the first nine months of 2012, reflecting the company's business strategy to expand its U.S. sales force and direct marketing efforts there. Sales in the EMEA (Europe, Middle East, and Africa) and APAC (Asia-Pacific) regions comprised 27% and 12% of revenue, respectively.

"Our strong sales growth in the third quarter and first nine months of the year validates our strategic positioning and demonstrates the increasing importance of optical biopsies for gastroenterology and other indications," Sacha Loiseau, Founder and CEO of Mauna Kea Technologies, said. "We continue to work diligently with leading physicians around the world to expand clinical indications and uses for Cellvizio. We believe that Optical Biopsies performed with Cellvizio are the fastest way to see cancer and should be considered a key tool in physicians' armamentarium to diagnose and treat disease as quickly, efficiently and effectively as possible."

About Mauna Kea Technologies
Mauna Kea Technologies is a global medical device company dedicated to the advent of optical biopsy. The company researches, develops and markets innovative tools to visualize and detect cellular abnormalities during endoscopic procedures. Its flagship product, Cellvizio®, a probe-based Confocal Laser Endomicroscopy (pCLE) system, provides physicians and researchers high-resolution cellular views of tissue inside the body. Large, international, multicenter clinical trials have demonstrated Cellvizio's ability to help physicians more accurately detect early forms of disease and make treatment decisions immediately. Designed to improve patient outcomes and reduce costs within a hospital, Cellvizio can be used with almost any endoscope. Cellvizio has 510(k) clearance from the U.S. Food and Drug Administration and the European CE-Mark for use in the GI tract, biliary and pancreatic ducts and lungs.

For more information about Mauna Kea Technologies, visit

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