Rayence Announces Fourth Quarter and Full Year 2020 Financial Results
Rayence(KOSDAQ: 228850), a digital X-ray parts and materials company, announced its fourth quarter and full year 2020 financial results.
The company reported revenues of KRW 28.4 billion and operating profits of KRW 3 billion for the fourth quarter. This brought revenues and operating profits to KRW 101.8 billion and KRW 8.6 billion, respectively, for the full year of 2020.
Rayence said that detector sales have steadily increased to pre-COVID-19 levels as the global medical and dental imaging equipment market recovers.
In 2020, sales of medical detectors were KRW 40.4 billion and sales of dental detectors were KRW 41.2 billion.
Rayence has developed a new detector catered for industrial inspection equipment, a market with high growth potential, that enables rapid image acquisition without afterimages.
Rayence plans to lead the market with its advanced technology while focusing on selling high value-added products. The company also plans to foster its veterinary medical and materials businesses to serve as growth engines.