Nanosonics Ltd Strong December quarter performance drove the stock higher

Strong December quarter performance drove the stock higher: Nanosonics Ltd (ASX: NAN) stock rallied over 7.5% on January 16, 2017 driven by the better than estimated December quarter results. NAN reported $18.3 million revenues in the December 2016 quarter leading to a first half of 2017 year on year (yoy) sales rise of 131% to $36.1 million. As a result, even December 2016 quarter generated a cash balance increase of $3.3 million to $56.9 million, against prior quarter, which is the fourth consecutive quarter of positive cash flow. The growing adoption for trophon technology is mainly contributing to this performance. North America’s division total installed base rose 60% to over 10,700 during the quarter. Installed base of NAN has over 12,300 units. NAN is also seeing positive signs in their UK business, as six of the fourteen Scottish NHS trusts started trophon adoption post the announcement of new guidelines in Scotland. Accordingly, the group’s Managed Equipment Service business model is gaining traction.              

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