VATECH Releases 2Q 2017 Results
VATECH (Chairman Ro Chang-joon and CEO Samuel Ahn, www.vatechcorp.co.kr) reported on Monday the 2Q results. The company’s 2Q sales was $ 50 million, up 15.4 percent year over year. At the same time, the 2Q operating profit was $ 10.87 million, risen 14.7 percent from the previous year, hitting record-high level in the performance on VATECH’s core sector, dental imaging.
VATECH’s strong 2Q performance came from the increased sales of 3D imaging devices which well surpassed those of the company’s competitors. The demand for 3D imaging device in dental market has risen significantly. And this trend is boosting the sales of VATECH’s key products.
The sales of PaX-i3DSmart, VATECH’s steady seller, is showing a solid growth in Japan, United States, Taiwan and other advanced markets, driving a boost both in sales and profit. At the same time, the sales of PaX-i3D Green rose 113 percent year over year in North America, the world’s largest dental imaging market. Thus, VATECH’s ‘Green’ is now taking a position of premium brand in the market, representing low-dose and eco-friendly technology.
In China, the sales of VATECH 2D and 3D devices are showing a significant growth, allowing the company to enjoy the flow of increased revenues. the sales of VATECH 2D and 3D devices showed a solid growth during the same period, allowing the company to enjoy increased revenues.
For four years in a row, VATECH has shown a double-digit growth in revenues. The company reported USD 89.8 million in revenues and USD 18 million in sales for the first half of 2017. Throughout this period, the company also showed a rise in production and sales.
VATECH expects to see a solid growth for the second half of 2017, coming from showcasing its latest innovations in the market. ‘EzRay air’ features the world’s first medical CNT tube which cuts down the product weight by half compared to conventional portable X-rays in the market.
The company is also preparing to launch PaX-i Insight during the second half of this. The product offers depth-added panorama which allows doctors to detect hidden problems easily and delivers more accurate diagnosis.
In addition, VATECH is preparing to commercialize AI (Artificial Intelligence) based dental software to respond the market’s demand for advanced and distinguished dental solutions
Samuel Ahn, CEO of VATECH said “VATECH moved a notch during the first half of 2017, showing a double-digit growth which well surpassed market’s average. We will continue to advance our position in the market by strengthening our product quality, dental software and customer service to reach our goal – becoming No.1 brand in dental imaging market.”