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Akers Bioscience Inc
- BY: Andrew Hore |
- POSTED: 04/11/2009 |
- COMMENTS: Add yours
Diagnostic products developer Akers Biosciences Inc still has not received any further US military orders for its BreathScan product.
BreathScan is an alcohol detection system. Akers believes that more orders will come through but it is too late for 2009. BreathScan is still expected to contribute 31% of 2009 revenues.
There has also been a delay in sales of the Free Radical Enzymatic Device which is another breath testing product. This was sold to PULSE but Akers still supplies assay tubes for the test in return for a fixed price for three years plus a royalty per tube.
The 2009 figures will be “substantially below market expectations”. House broker Arbuthnot has downgraded 2009 revenue expectations to $2m – the interim revenues were $1.18m. A loss of $500,000 is forecast, of which $336,000 was made in the first half of 2009.
There was a 2.5p drop in the Akers share price to 14.25p, which values the company at £16.2m.
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