Image credit: DRTECH booth, RSNA 2017
On the 13th May, DRTECH published its financial results for the first quarter of 2020. These show that the company delivered explosive sales growth during the quarter as well as increased profitability. The companies total sales revenue reached ₩13.3 billion, compared with ₩10 billion during Q1 2019, an increase of approximately 33% year-on-year. Underlying operating margin improved by +720bps from 2.6% of sales during Q1 2019 to 9.8% of sales during Q1 2020.
The sales growth during the first quarter was driven by higher product demand from customers based both domestically as well as internationally. Sales to customers based in South Korea accounted for approximately ₩2.2 billion of additional revenue and international customers accounted for approximately ₩1.1 billion. From a product mix perspective, sales growth was driven by higher sales revenue originating from the sale of indirect-type detectors, x-ray accessories as well as image processing and viewing software. The companies portfolio of indirect detectors encompasses the EXPRIMER and EXTREAM branded products which are a-Si TFT-type detectors deposited with CsI or GoS scintillator. Higher sales revenue from these product segments were partially offset by lower sales revenue originating from the sale of direct-type detectors as well as detectors specifically for mammography. The companies portfolio of direct detectors encompasses the FLAATZ product series and for mammography this includes the RoseM series.
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