Clinical Computing narrows losses

Shares in Clinical Computing surged 14% after it narrowed full year losses and reported a 12.5% increase in total revenue. For the year ended 31 December 2009 the clinical information systems software provider said it made a pre-tax loss of £232,632 compared to a loss of £773,386 before. Revenue for the period increased to £3.18m from £2.83m previously.EBITDA loss narrowed to £61,118 during the year from a loss of £737,384 before.Clinical also reported a profit after tax of £220,394 compared to a loss of £731,477, as a result of receiving £453,026 in research and development tax credits for development project undertaken in 2006, 2007 and 2008, the group explained.Commenting on the group's outlook, chairman Howard Kitchner said, "The Group is in a position with both of its business units where it has completed the majority of the significant development efforts for its primary product lines."The Hydra business is expected to continue to deliver stable results, it added."The group will continue to manage its cost structure in line with opportunities across both business lines."