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Full Year Trading Update

25 Apr 2016 07:00

RNS Number : 1379W
Immunodiagnostic Systems Hldgs PLC
25 April 2016
 



 

 

 

 

Full year trading update

 

Immunodiagnostic Systems Holdings PLC

25 April 2016

 

 

 

 

 

 

25 April 2016

 

Immunodiagnostic Systems Holdings plc Trading Update for year ended 31 March 2016

 

Immunodiagnostic Systems Holdings plc ("the Group"), a specialist solution provider to the clinical laboratory diagnostic market, today provides a trading update for the year ended 31 March 2016.

 

Total revenues are expected to be c. £39 million (2015: £45 million), in line with the guidance given in November 2015. The decrease in revenues year on year is mainly due to further reductions in our manual assay business, where test volumes continue to migrate to automated solutions offered by us and others. In addition, we are continuing to lose automated 25-OH Vitamin D business as the larger laboratories migrate test volumes previously run on the iSYS analyzer to workhorses (i.e. high-throughput analyzers) when their contracts with IDS come due for renewal. These revenue trends are expected to continue into the current financial year.

 

Gross direct instrument placements were 31 (2015: 54) with 43 instruments returned in the year (2015: 40), meaning net direct instrument returns were 12 (2015: net additions of 14). The total number of instruments sold to or placed with distributors or OEM partners (net) during the year was 35 (2015: 49).

 

Closing cash and cash equivalents were £26.6 million at 31 March 2016 (31 March 2015: £23.7 million; 30 September 2015: £23.5million).

At the end of the year the company employed 315 people on a full time employment basis (FY 2015:346).

We are expecting a significant asset write-down of goodwill and capitalized costs in the year ended 31 March 2016 accounts. This write down will not impact the Group's cashflow.

 

Preliminary results for the year ended 31 March 2016 will be announced on 22 June 2016.

 

For further information:

 

Immunodiagnostic Systems Holdings plc Tel : +44 (0)191 5190660

Patricio Lacalle, Chief Executive Officer

Paul Martin, Group Finance Director

 

 

Peel Hunt LLP Tel : +44 (0)207 418 8900

James Steel

Oliver Jackson

 

 

 

 

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTLLFVDSEIFFIR
Date   Source Headline
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11th Dec 20097:00 amRNSDirectorate Change
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18th Nov 200910:03 amRNSDirectorate Change

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