Opsens announces 376% sales growth for third quarter 2008



    QUEBEC CITY, July 3 /CNW Telbec/ - Opsens Inc. (TSX VENTURE EXCHANGE:
OPS) ("Opsens") has released its quarterly financial results for the three and
nine-month periods ended May 31, 2008.
    According to Pierre Carrier, President and Chief Executive Officer,
"During the third quarter, we have successfully completed the first
installation of our OPP-W fiber optic sensor used to deliver continuous and
reliable monitoring of downhole pressure and temperature at temperature up to
300 degrees Celsius, for a major oil sands operator in Alberta, a company that
uses the Steam Assisted Gravity Drainage (SAGD). This historic event, coupled
with a strong growth in sales within the medical sector, contributed to sales
figures for the quarter that were greater than the total annual revenue from
the previous year. We hope to maintain this trend over the next quarters by
strengthening our marketing efforts in each of our markets."

    Financial results - three-month period ended May 31, 2008

    The Company generated $890,000 in sales for the three-month period ended
May 31, 2008, compared to $187,000 for the three-month period ended May 31,
2007, registering an increase of 376%. The growth in sales for the three-month
period ending May 31, 2008, was due to organic growth within the medical
instrument, and scientific and military laboratory sectors, as well as in the
high-power electrical transformer industry. Also responsible was the
acquisition of a wholly-owned oil and gas subsidiary company, based in
Edmonton.
    The net loss for the three-month period ended May 31, 2008, was $359,000,
compared to $700,000 for the three-month period ended May 31, 2007. This
decreased quarterly net loss in relation to last year's period mainly reflects
the increased gross margin.
    Sales and marketing expenses decreased by $27,000 to $222,000 for the
three-month period ended May 31, 2008, compared to $249,000 for the same
quarter last year.
    R&D expenses increased to $185,000 and $156,000, respectively, for the
three-month period ended May 31, 2008, and 2007. The change in R&D expenses
during the period was generated mainly by an increase in wage costs.
    Administrative expenses increased by $28,000 to $313,000 for the
three-month period ended May 31, 2008, compared to $285,000 for the
three-month period ended May 31, 2007. Administrative expenses increased
especially following the acquisition of Opsens Solutions.

    Financial results - nine-month period ended May 31, 2008

    The Company generated $2,096,000 in sales for the nine-month period ended
May 31, 2008, compared to $626,000 for the same period of the previous year,
registering an increase of 235%. Sales growth for the nine-month period ended
May 31, 2008, was generated by strong performance in the scientific and
military laboratory sector, which contributed more than $856,000, and revenues
in the oil and gas sector of nearly $600,000.

    
                                 --------------------------------------------
    (In thousands of dollars,        Three-     Three-      Nine-      Nine-
      except per share amounts)       month      month      month      month
                                     period     period     period     period
                                      ended      ended      ended      ended
                                     May 31,    May 31,    May 31,    May 31,
                                       2008       2007       2008       2007
                                 --------------------------------------------
                                          $          $          $          $
                                 --------------------------------------------

    Sales                               890        187      2,096        626

    Cost of sales                       495        174      1,158        488
                                 --------------------------------------------
    Gross margin                        395         13        938        138

    Administrative expenses             313        285        853        705
    Marketing expenses                  222        249        552        661
    R&D expenses                        185        156        534        481
    Amortization of property,
     plant, and equipment                26         19         65         50
    Amortization of intangible
     assets                               6          6         25         24
    Amortization of deferred
     financing fees                       -          -          -          9
    Financial expenses (Revenues)         2         (2)        18        (10)
                                 --------------------------------------------
                                        754        713      2,047      1,920

    Loss before income tax             (359)      (700)    (1,109)    (1,782)
    Income tax                            -          -          -          -
                                 --------------------------------------------
    Net loss for the period            (359)      (700)    (1,109)    (1,782)

    Net loss per share - Basic        (0,01)     (0,02)     (0,03)     (0,06)
    Net loss per share - Diluted      (0,01)     (0,02)     (0,03)     (0,06)
    

    Grant of stock options

    On April 23, 2008, Opsens' Board of Directors authorized the grant of a
total of 292,500 stock options. Each stock option granted entitles the holder
to subscribe for one Opsens' common share on April 21, 2013, at the latest,
and at a price equal to the average closing price of Opsens' common shares
traded on the TSX Venture Exchange Inc. for five trading days following
April 23, 2008, or $0.87.

    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 directly to end-users in the oil and gas,
medical instrumentation, energy, and 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
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


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