Vatech said Tuesday that it recorded 54.8 billion won ($48.9 million) in sales and 8.1 billion won in operating profits in the third quarter of this year.
Exports accounted for 83 percent of total sales, and operating profit also continued to reach a record high compared to previous quarters, the company said.
Cumulative sales and operating profit until the third quarter totaled 162.85 billion won, up 3.9 year on year, and 29.44 billion won, up 3.4 percent, respectively.
“We recorded sales of the same level last year despite being in the off-season,” Vatech said. “We believe this is the result of an increase in the turnover and sales portion of our dental 3D diagnostic equipment.”
Dental 3D diagnostic equipment is a medical device used for expensive treatment such as correction and implant. The company’s 3D diagnostic equipment increased 36 percent over the period after the demand for such machinery increased in the North American market.
The portion of 3D diagnostic devices among total turnover also rose from 51 to 67 percent in the same period of the previous year.
“Worldwide sales were evenly distributed in North America, Asia (excluding Korea), and Europe, with sales ranging from 17 to 32 percent,” the company noted. “Especially, after the company received Chinese sales approval for ‘Green Smart,’ its 3D diagnostic equipment, in June this year, sales in the country has soared.”
Thanks to this upward trend, the company plans to become the number one in the dental X-ray field in China by 2020, it added.
The company plans to accelerate its advance into the global market using differentiated strategies such as its 10-year global warranty policy, which is the first time in the industry, as well as its superior products.
“Demand for digitalization of dentistry is increasing in advanced countries as well as emerging markets,” Vatech CEO Hyun Jeong-hoon said. “In emerging markets such as China, the trend is to skip 2D and introduce 3D diagnostic equipment as quick as possible.”
In line with the introduction of 3D diagnostic equipment worldwide, Vatech's sales portfolio is also shifting to 3D, he added.