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Instem Life Science Systems
- BY: Andrew Hore |
- POSTED: 09/01/2012 |
- COMMENTS: Add yours
Healthcare IT firm Instem Life Science Systems says that fourth quarter trading was mixed because contract research organisations are delaying orders.
Some projects have been delayed into 2012 and revenues are lower than expected and profit will be well below expectations. Revenues will be slightly higher than £10m. Cash in the bank is steady at £3.3m.
R&D-related healthcare software provider BioWisdom, which was acquired last March, has exceeded expectations. Further acquisitions are being sought.
Some contracts are expected to be finished in the first half of 2012 and this year’s order book is strong.
The full year figures will be published on 28 March.
At 181.5p a share, down 20p, Instem is valued at £21.3m. this is a new 52 week low.
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