Nanosonics: Q2 result 2016

Nanosonics has posted another great sales result, but the investment case is shifting.

At Nanosonics’ 2015 interim result, we were sceptical of management’s plan to establish a direct sales operation in North America to supplement its distribution partnership with GE Healthcare, the world’s largest manufacturer of ultrasound equipment. ‘It’s hard to see how [Nanosonics’] local team of 15 will do a better job than GE’s 46,000 employees’ we said at the time.

But with almost a year of direct sales under its belt, we’re glad to see the company proving us wrong. Nanosonics stock has jumped 10% after announcing record quarterly sales of $9.1m, up 41% on the prior quarter and 9% year-on-year.

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