VATECH(www.vatechglobal.com) announced results for the third quarter of 2017. The company posted quarterly sales revenue of $ 51.5 million  and operating profit $7.6 million. Since the beginning of 2017, VATECH has excluded Rayence’s performance from its financial statement. Yet, revenues grew 38% and operating profit increased of 27%, compared to the same period in 2016. For four years in a row, VATECH carried out double-digit growth in revenues year over year.

The company’s 3Q report showed increases in revenues across regions. This was partly due to VATECH’s strategy to customize its products for each market. In North America, ‘PaX-i3D Green’, a high-end model featuring VATECH’s low-dose radiography technology, was well received by customers. In China, surging demand for 3D imaging device drove up the sales of PaX-i 3D. Strong sales in Russia and India also took a part. VATECH India sold over 1,500 IOS (*Intra Oral Sensor) for the third quarter of 2017 alone.

The company anticipates that total revenues will continue to grow through the end of 2017 and into next year, driven by strong sales of new products. Both PaX-i insight and Ezray Air showed a constant growth in sale during the third quarter; VATECH expects this trend will continue through the end of the year and forth. Meanwhile, the company will seek to expand the market shares for its premium model ‘Green’. In addition to this, VATECH will showcase in the next year brand new dental software with advance features from the previous programs.

Rayence (http://www.rayence.com/en/) set all-time record for the third quarter of 2017. The company posted quarterly revenues of $22.1 million, up 23% compared to the same period in 2016. The operating income was $ 4.8 million for 2017 3Q. When looking closely at the picture by product segments, TFT, CMOS and IOS all rose in sales during the third quarter of 2017. Especially in North America, the sales of TFT detector surged by 88% compared to the year-ago quarter. The company also signed a number of contracts boosted the revenues; Rayence signed contracts with Canadian State Hospitals and U.S Federal Institution to provide TFT detectors. Meanwhile, the sales of CMOS detector also increased on 16% compared to the previous year.

On a product basis, TFT, CMOS and IOS showed a growth in net sales during the three quarters. Especially in North America, the sales of TFT detector rose by 88% compared to the third quarter of 2016, pushing up the overall profit. In 3Q 2017, Rayence signed deals with Canadian state hospital and U.S Federal institution to provide TFT detectors. The sales of dental CMOS detector also grew by 16% compared to the prior year.

The company will seek out to expand its markets through the end of 2017 and next year. The company will launch a new line of TFT detectors specialized for various sectors: public projects, healthcare, security, etc. At the same time, Rayence is seeking to strengthen its B2B business by becoming a TFT detector supplier to global medical device company. In addition, the company shall continue investing in vet imaging market, until it becomes one of Rayence’s core business sector.