25 Jul 2013 07:00
25 July 2013
Toumaz Limited
Half year trading update
Toumaz Limited (AIM: TMZ, 'Toumaz', or 'the Group'), a pioneer in ultra-low power wireless semiconductor technology, has published a trading update for the half year ended 30 June 2013.
The Group has traded in line with the Board's expectations with revenues at £8.2m and an EBITDA loss of £6.2m. As at 30 June 2013, the cash balance was £8.0m.
Progress on the Group's three major chip developments, in digital radio, connected audio and wireless healthcare, has been good. In each of the Group's core markets, there have been several encouraging indicators in market developments.
Market conditions for digital radio and connected audio are stable despite a decline in overall consumer electronics sales across Europe. The key new market for digital radio, Germany, is now seeing healthy growth year on year and globally a record number of advance orders were placed with the Group in June
In wireless healthcare, the results of the SensiumVitals® pilot in St John's Health Center, Santa Monica were published in April. These results give a clear validation of both the clinical and economic benefits of the Group's vital signs monitoring system.
The Group has opened a new development centre in Timisoara, Romania. The centre will be focused on software for both consumer audio solutions and wireless healthcare products.
Toumaz expects to publish its half year results in the second half of September.
Anthony Sethill, CEO of Toumaz, commented:
"Sales of our digital audio chips remain firm, as anticipated, despite the difficult consumer electronic markets in Europe. Our order book for the next few months reflects the seasonal uplift.
"Progress in wireless healthcare is promising. We have had numerous enquiries from hospitals in the US and Europe who are looking to pilot our SensiumVitals® system.
"Overall our plans to commercialise our wireless technologies remain on track."
Enquiries:
Toumaz Limited | +44 (0)20 7391 0630 |
Anthony Sethill, Chief Executive Officer | |
Jonathan Apps, Chief Financial Officer | |
Peel Hunt LLP (Nominated Adviser and Broker) | +44 (0)20 7418 8900 |
Richard Kauffer/Daniel Harris | |
College Hill | +44 (0)20 7457 2056 |
Adrian Duffield/Rozi Morris |
About Toumaz (www.toumazltd.com)
Toumaz is a pioneer in ultra-low power wireless semi-conductor technologies for a wide range of markets including medical monitoring and internet connected consumer devices. The 2012 acquisition of Frontier Silicon brings operational scale and expertise together with a leadership position in digital and networked audio markets.