Optos plc (OPTS.L) Monday reported a surge in first-quarter revenues to $41.9 million from $25.7 million a year ago, thanks to "significant" growth in finance lease rentals. On an underlying basis, revenues went up 20 percent, with like-for-like underlying sales climbing 11 percent.
While revenues from outright device and product sales increased to $9.6 million from $3.7 million, device sales under finance leases resulted in revenues of $13.2 million this year, compared to $0.8 million a year ago. Optos noted that the 425 renewals recorded in the quarter were boosted by a strategy that extended customer contracts while managing the transition from P200 devices to Daytona.
For comments and feedback: editorial@rttnews.com