January 23, 2009 / 7:31 AM / 10 years ago

UPDATE 2-Optos says Q1 revenues up 4 pct, to look at costs

* CEO conducting review of cost base

* Saw lower discretionary consumer spending in the quarter

(Adds CEO comments, analyst reaction, share price)

LONDON, Jan 23 (Reuters) - British retinal imaging technology company Optos OPTS.L said its first-quarter revenue growth slowed to 4 percent and it was to manage costs.

Optos said on Friday its revenues rose to $23.6 million in the three months to end-December, during which it had a 78 percent customer contract renewal rate.

“I’m doing a 100 day review of the business and the strategy ... that will cover all aspects of the business including revenue, growth, profitability and the cost structure that goes with it,” Chief Executive Roy Davis told Reuters.

He said he would provide more details at the company’s AGM on Feb. 26.

Analyst Gary Waanders at Nomura Code said he was placing his forecasts under review as a result of the statement.

“This morning’s interim management statement from Optos contains nothing but bad news,” he said.

By 1013 GMT shares had fallen by 17.5 percent to 52 pence per share. (Reporting by Ben Deighton; Editing by Dan Lalor)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below