Opsens announces its financial results for the quarter ended February 28, 2007



    QUEBEC CITY, April 24 /CNW Telbec/ - Opsens Inc. (TSX VENTURE EXCHANGE:
OPS) ("Opsens") disclosed today its interim financial results for the period
ended February 28, 2007.
    According to Mr. Pierre Carrier, President and Chief Executive Officer
"The second quarter ended February 28, 2007 showed significant progress in
each of the company's sectors. In addition to the private placement completed
with a premier US financial institution which provided Opsens a working
capital of 2.9 M$, commercial progress had been made in each of our markets.
Also, Opsens is in the final development stage of its fiber optic sensor that
measures pressure under high-temperature conditions up to 300 degrees Celsius.
This sensor is earmarked for oil wells using the Steam Assisted Gravity
Drainage ("SAGD") process. The SAGD is a process whereby oil sands are heated
by injected steam to extract the oil. The SAGD is utilized for oil production
in Alberta, the second largest crude oil reserve in the world."

    Interim financial results - three-month period ended February 28, 2007

    For the three-month period ended February 28, 2007, revenues totalled
$265,513, or, a 25% increase compared to $212,320 for the same period last
year. The increase in revenues mostly stems from 93% increase in the sale of
products for the quarter compared to last year's quarter. Higher product sales
had been generated by new products and the growing demand in our target
markets, such as the medical, laboratory and electric power transformer
markets.
    Opsens' net loss was $519,579, including $44,348 for stock-based
compensation expenses related to stock options granted during the year
compared to a net loss of $182,241 for the quarter ended February 28, 2006.
This net income variation was generated, in particular, by commercialization
efforts, stock-based compensation expenses, accelerated R&D efforts mostly for
the new high-temperature resistant pressure sensor earmarked for the oil
market.
    Marketing expenses for the three-month period ended February 28, 2007
stood at $181,966 compared to $85,968 for the same quarter last year. For the
last quarter, commercialization expenses had been engaged for Oil and gas
commercialization expected in a near future.
    R&D expenses for the three-month period ended February 28, 2007 were
$236,780 compared to $91,656 for the same quarter last year. The increase is
attributable to accelerated R&D activities as well as to lower R&D tax
credits.
    Administrative expenses for the three-month period ended February 28,
2007 were $179,460, including stock-based compensation expenses of $44,348
compared to administrative expenses of $97,239 for the same quarter last year.
Except for the stock-based compensation expenses, this increase is mainly
attributable to the hike in public relations and professional fees for the
second quarter 2007.

    Interim financial results - six-month period ended February 28, 2007

    For the six-month period ended February 28, 2007, revenues totalled
$439,301, or, a 28% increase compared to $342,658 for the same period last
year. The increase in revenues mostly stems from 81% increase in the sale of
products for the six-month period compared to last year's quarter.
    Opsens' net loss was $1,081,735, including $155,448 for stock-based
compensation expenses related to stock options granted during the year
compared to a net loss of $375,747 for the six-month period ended February 28,
2006.
    As at February 28, 2007, Opsens had cash and cash equivalents of
$2,346,812 compared to $323,420 on August 31, 2006.

    
    Results for the three-month and six-month periods ended February 28, 2007
    and 2006

    -------------------------------------------------------------------------
    (In thousand     Three-month   Three-month      Six-month      Six-month
     of dollars)          period        period         period         period
     except for            ended         ended          ended          ended
     per share       February 28,  February 28,   February 28,   February 28,
     amounts                2007          2006           2007           2006
                     --------------------------------------------------------
                               $             $              $              $
    -------------------------------------------------------------------------
    Sales                    265           137            439            242
    Partnership revenues       -            75              -            101
                     --------------------------------------------------------
    Revenues                 265           212            439            343

    Cost of sales            198            82            317            166
                     --------------------------------------------------------
    Gross margin              67           130            122            177

    Administrative           179            97            428            150
    Marketing                182            86            412            150
    R&D                      237            92            363            173
    Financial (income)       (11)           37              1             80
                     --------------------------------------------------------
                             587           312          1,204            553

    Loss before income
     taxes                  (520)         (182)        (1,082)          (376)
    Income taxes               -             -              -              -
                     --------------------------------------------------------
    Net loss                (520)         (182)        (1,082)          (376)

    Net loss per share -
     Basic                 (0.02)        (0.01)         (0.04)         (0.02)
    Net loss per share -
     Diluted               (0.02)        (0.01)         (0.04)         (0.02)
    

    About Opsens

    Opsens is a leading developer, manufacturer and supplier of a wide range
of fiber optic sensors and associated signal conditioners based on proprietary
and patent pending technologies. Opsens sensors provide long-term accuracy and
reliability in the harshest environments and are able to address various
critical measurement requirements notably in the oil and gas field. Opsens
provides patent pending sensors to measure pressure, temperature, strain and
displacement to original equipment manufacturers (OEM) and end-users in the
oil and gas, medical, energy and laboratory fields. Opsens offers technical
services, 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


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