EGI.L Regulatory News (EGI)

Electrical Geodesics, Inc.

Trading Update

EUGENE, OREGON, US, 16 July 2014 - Electrical Geodesics, Inc. ("EGI" or the "Company"), a leading neurodiagnostic medical technology company, today provides a trading update for the six months to 30 June 2014. All figures are reported in US$ and are unaudited. 

Revenues for the six-month period to 30 June 2014 (H1 2014) were $5.8m, some 7.5% higher than the $5.4m recorded in H1 2013 and back in line with those reported for H1 2012. Sales secured in the first half included 256 channel dEEG systems ordered by three high-end clinical sites and in total, 61 systems were sold (H1 2013: 43) with a greater proportion of those systems being lower channel-count entry-level systems.

Don Tucker, PhD, Chairman and CEO, commented: "We are pleased to have delivered a solid increase in revenues compared to the same period last year while simultaneously introducing new hardware and software products. In the second half of the year we expect to launch a series of further product enhancements and new products, including our MicroCel low profile Sensor Net and the NOLIS database, all of which we believe will drive continued growth in revenues.

"As announced earlier this week, we have secured a significant $1.75m grant to support some of our future work and we feel this may be indicative of an improvement in the funding climate which is so vital to much of our research customer base. Significant among our new clinical customers are three leading epilepsy neurosurgery centres who have adopted our 256 dEEG technology for localising seizure onset. We are pleased our systems are being introduced into clinical practice and as we add additional functionality to our product range, we see significant opportunities to attract further clinical customers. Moreover, the modular, flexible nature of our GES 400 platform enables our increasing customer base to upgrade their systems at any stage in order to take full advantage of our product line."

Full Interim Results details will be announced on 10 September 2014.

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About EGI

Founded in 1992, EGI designs, develops and commercialises a range of non-invasive neurodiagnostic products used to monitor and interpret brain activity based on its proprietary dense array electroencephalography ("dEEG") platform technology. The Company's technology uses up to 256 sensors, providing much higher resolution brain activity data compared to conventional 8 or 16 channel EEG and is used in medical, clinical and research settings in a diverse range of applications including important areas such as the diagnosis and monitoring of epilepsy, neurosurgical planning, sleep assessment, and many others.

EGI's dEEG systems, available in the GES 300 and now the GES 400 lines, capitalize on the Company's unique Hydrocel Geodesic Sensor Net which allows faster, easier, and more convenient placement of many EEG sensors in an even distribution over the entire scalp, providing more accurate and precise diagnosis and measurement. EGI's technology is now widely used in neuroscience research laboratories and is becoming more commonly used in clinics, care centers, and hospitals around the world. Data is measured and visualised using EGI's proprietary amplifier technology and software, providing a complete, advanced, high-resolution EEG platform. The Company's products are compatible with multiple diagnostic and imaging technologies, including magnetic resonance (MR) imaging, functional MRI (fMRI), and magneto-encephalography (MEG).

 See www.egi.comfor more information on the Company.

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