21 Apr 2015 07:00
21 April 2015
Immunodiagnostic Systems Holdings plc
Trading Update
Immunodiagnostic Systems Holdings plc ("the Group"), a leading solution provider to the clinical laboratory diagnostic market, today provides a trading update for the year ended 31 March 2015.
Total revenues are expected to be c. £45 million (2014: £52 million) in line with guidance given in September 2014. The decrease in revenue was driven by lower automated revenues, due to a low level of net placements, and continued significant decline in manual revenues, predominantly in 25OH vitamin D.
Direct instruments are those sold or placed with reagent rental IDS end-user customers in the Group's core markets of the USA and Europe (excluding distributor territories of Spain and Italy). Gross direct instrument placements were 54 (2014: 60) with 40 instruments returned in the year (2014: 25), meaning net direct instrument placements were 14 (2014: 35).The total number of instruments sold to or placed with distributors or OEM partners (net) during the year was 40 (2014: 57).
Closing cash and cash equivalents were c. £24 million as at 31 March 2015 (31 March 2014: £27 million; 30 September 2014: £23 million).
Preliminary results for the year ended 31 March 2015 will be announced on 23 June 2015.
For further information:
Immunodiagnostic Systems Holdings plc | Tel : +44 (0)191 5190660 |
Patricio Lacalle, Chief Executive Officer Chris Yates, Finance Director |
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Peel Hunt LLP |
Tel : +44 (0)207 418 8900 |
James Steel Clare Terlouw |