Opsens announces 327% sales growth for first quarter 2008



    QUEBEC CITY, Jan. 23 /CNW Telbec/ - Opsens Inc.
(TSX VENTURE EXCHANGE: OPS) ("Opsens") has released its quarterly financial
results for the three-month period year ended November 30, 2007.
    According to Pierre Carrier, president and chief executive officer, "The
strong sales growth during first quarter 2008 shows our customers'
satisfaction with Opsens products. We are counting on continuing this launch
in the coming quarters by intensifying our marketing activities in each of our
markets.
    Second quarter 2008 is also off to a very good start with the acquisition
of Inflo Solutions Inc., now known as Opsens Solutions Inc, a company
dedicated to the design and installation of solutions for the analysis of
reservoirs based on optical sensors and conventional sensors within the oil
industry. Opsens Solutions already received two orders in early January 2008,
and other significant steps are underway in the high-potential oil and gas
market."

    Financial results - three-month period ended November 30, 2007

    The Company generated $569,000 in sales for the three-month period ended
November 30, 2007, compared to $174,000 for the three-month period ended
November 30, 2006, registering an increase of 327%. Sales growth for the
three-month period ended November 30, 2007, was generated by strong
performance in the scientific and military laboratory sector. Sales in this
sector represented more than $400,000 in sales during the quarter, resulting
mostly from orders placed by BAE Systems and other major military industry
companies.
    The net loss for the three-month period ended November 30, 2007, was
$347,000, compared to $562,000 for the three-month period ended November 30,
2006. This decreased net loss for first quarter 2008 in relation to last
year's first quarter reflects the increased sales and gross margin and the
decreased stock-based compensation expenses.
    Marketing expenses decreased by $35,000 to $195,000 for the three-month
period ended November 30, 2007, compared to $230,000 for the same quarter last
year. This change is explained mainly by decreased expenses associated with
participation in conventions.
    R&D expenses rose to $163,000 and $115,000, respectively, for the
three-month period ended November 30, 2007 and November 30, 2006. The
variation in R&D expenses during the period was generated mainly by increased
salaries and a lower reimbursement rate for tax credits now that Opsens has
been a public company since first quarter of 2007.
    Administrative expenses increased by $8,000 to $253,000 for the
three-month period ended November 30, 2007, compared to $245,000 for the
three-month period ended November 30, 2006. Within administrative expenses,
stock-based compensation was $50,000 and $ 111,000 for first quarters 2008 and
2007 respectively, representing a favorable change of $61,000. However,
salaries, public communication expenses, and other administrative expenses
increased.
    As of November 30, 2007, Opsens held cash assets of $1,797,000 compared
to $1,839,000 as of August 31, 2007.

    
    -------------------------------------------------------------------------
    (In thousands of dollars,                 Three-month        Three-month
     except data per share)                  period ended       period ended
                                              November 30,       November 30,
                                                     2007               2006
                                             --------------------------------
                                                        $                  $
                                             --------------------------------

    Sales                                             569                174

    Cost of sales                                     268                117
                                             --------------------------------
    Gross margin                                      301                 57

    Administrative expenses                           253                245
    Marketing expenses                                195                230
    Research and development expenses                 163                115
    Amortization of property, plant,
     and equipment                                     18                 15
    Amortization of intangible assets                   5                  2
    Amortization of deferred financing fees             -                  9
    Financial (income) expenses                        14                  3
                                             --------------------------------
                                                      648                619

    Loss before income taxes                         (347)              (562)
    Income taxes                                        -                  -
                                             --------------------------------
    Net loss                                         (347)              (562)

    Basic loss per share                            (0.01)             (0.02)
    Diluted loss per share                          (0.01)             (0.02)
    

    About Opsens (www.opsens.com)

    Opsens is a leading developer, manufacturer and supplier of a wide range
of fiber optic sensors and associated signal conditioners based on proprietary
patent and patent-pending technologies. Opsens sensors provide long-term
accuracy and reliability in the harshest environments. Opsens provides sensors
to measure pressure, temperature, strain and displacement to original
equipment manufacturers (OEM) and end-users in the oil and gas, medical,
energy, scientific and military laboratory fields. Opsens offers technical
services, such as on site installation, training and turnkey fiber optic
systems.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this press release.

    Forward-looking statements contained in this press release involve known
and unknown risks, uncertainties and other factors that may cause actual
results, performance and achievements of Opsens to be materially different
from any future results, performance or achievements expressed or implied by
the said forward-looking statements.




For further information:

For further information: Pierre Carrier, President and Chief Executive
Officer, (418) 682-9996; Louis Laflamme, CA, Chief Financial Officer, (418)
682-9996


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890