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17 Jan 2014 07:00
17 January 2014
Toumaz Limited
Year-end 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 year ended 31 December 2013.
The Group has traded in line with the Board's expectations. Preliminary unaudited results indicate revenues in the region of £21.8m (2012 pro-forma: £22.3m) and an EBITDA loss in the order of £10.2m (2012 pro-forma: loss of £11.2m). Following the £17.1m fundraising completed in November, cash at the end of 2013 was £21.5m.
Following the new distribution agreement for North America signed in October 2013 with Nant Health and its subsidiary, iSirona, the Group received its first commercial order for SensiumVitals® in North America. Shipments of product for this deployment have commenced - with a go live date in the last week of January.
SensiumVitals® received CE marking in October 2013 and the first UK pilot, with Spire Healthcare, is due to start in mid-February 2014. Since the year end, the Group has also signed a distribution agreement to supply SensiumVitals® in Australia. Further distributors in other key territories are also being actively recruited.
Market developments in digital radio have been positive with strong growth in the German market and the launch of DAB+ in The Netherlands in September 2013. The launch of digital radio in Paris, Nice and Marseille has been confirmed for June 2014. In December 2013, the UK Government announced a range of measures to accelerate the uptake of digital radio: including the roll-out of 360 national and local transmitters, plans for a second multiplex, and the introduction of a Digital Tick scheme.
Development of the Group's new integrated chip, Chorus 4, is progressing well. Working samples were received in December and first revenues are expected in Q4 2014.
Frontier Silicon is also building its position in connected audio, with agreements in place with Imagination Technologies and Spotify. The company recently demonstrated Spotify Connect, Apple Airplay and multi-room capability with its products at the Consumer Electronics Show in Las Vegas.
Anthony Sethill, CEO of Toumaz said:
"During 2013, we established the foundations for the Group's future growth. In Healthcare, initial customer engagements are drawing genuine interest and we are now poised to see the first significant commercial returns for SensiumVitals.
"In digital radio, momentum continues to build, especially in Europe; whilst, in the rapidly growing connected audio space, our relationships with partners such as Spotify and Imagination Technologies give us a significant competitive edge.
"Our fundraising in November ensures we have the necessary resources to address these exciting opportunities."
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.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, Toumaz Healthcare and Frontier Silicon. Toumaz Healthcare develops wireless solutions for patient monitoring. Frontier Silicon provides chip, modules and software for digital radio and connected audio devices.
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