28 May 2015 07:00
28 May 2015
Toumaz Limited
Trading update
Toumaz Limited (AIM: TMZ, 'Toumaz', or 'the Group'), a pioneer in low-power, wireless semiconductor technologies for healthcare and digital audio, publishes a trading update ahead of the Group's Annual General Meeting, being held today.
For the year to date, Group trading is in line with the Board's expectations. For the first six months of 2015, revenues, predominantly from Digital Audio, are expected to be up 30% year on year.
In Healthcare, the number of hospitals which have started to trial the Group's vital signs monitoring system, SensiumVitals®, continues to grow, up from 16 at the end of March to 20 today. This follows the completion of a range of product enhancements to ensure the system works robustly in a wide range of settings. The trial at Spire has been successfully completed - and will be used as a basis for further developing the Group's approach to Spire and the broader private hospital sector. A further 19 hospital trials are expected to start shortly.
In Digital Audio, both business lines are performing well.
The connected audio business has seen year to date volume growth of 60% - benefiting from a combination of rapid market growth and new design wins for its multi-room solutions. The Group's next generation connected audio solutions are expected to be sampling to customers in the second half of 2015.
The performance of the digital radio business has been buoyed by strong international developments. Norway became the first country in the world to confirm a date (2017) for Digital Switchover. In Germany, following public broadcaster ARD's long term commitment to DAB+, market volumes have accelerated rapidly (Q1 up 75% year on year - source GfK).
The Group's fourth generation digital radio solutions are now shipping in volumes, with Sony the first brand to incorporate the new technology into its devices. The major investment programme for digital radio has now been completed.
Anthony Sethill, CEO of Toumaz said:
"SensiumVitals® is establishing a presence in numerous hospitals in the UK and internationally. We are seeing a steady increase in hospitals starting to trial the system, following the completion of a range of product enhancements. Initial feedback has been encouraging and the first long term commercial contracts are expected in the coming months.
"Digital Audio is performing well on the back of market growth and our strong competitive position. We expect this performance to be maintained in our traditionally stronger second half of the year."
Enquiries:
Toumaz Limited | +44 (0)20 7391 0630 |
Anthony Sethill, Chief Executive Officer | |
Jonathan Apps, Chief Financial Officer | |
Instinctif Partners | +44 (0)20 7457 2020 |
Adrian Duffield/Chantal Woolcock |
About Toumaz (www.toumaz.com)
Toumaz Limited is a pioneer in low-power, wireless semiconductor and software technologies for healthcare and consumer audio. The company has two divisions, Sensium Healthcare and Frontier Silicon. Sensium Healthcare develops wireless solutions for patient monitoring. Frontier Silicon provides chips, modules and software for digital radio and connected audio devices.