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Akers Biosciences Inc

  • BY: Andrew Hore |
  • POSTED: 10/04/2013 |

Akers Diagnostics Inc has received an order for 1.4m CHUBE-branded disposable breath alcohol detectors from its distributor Chubeworkx Guernsey for the French market.

The order is worth $420,000 and takes the total value of orders so far to $1.5m. There was a licence fee of $1m on top of that. Akers will be recognising more than $2m of revenues from this source in 2013. Joint broker Daniel Stewart has increased its 2013 revenues forecast for Akers from $3.5m to $4.5m. This should be enough to push Akers into profit and $500,000 has been penciled-in.

Growth in the sales of PIFA tests has helped to boost revenues. These sales are one-fifth higher so far this year. Costs are being cut and this will also help to move the business into profit.

At 1.43p a share, up 0.2p, Akers is valued at 2.83m. The shares are trading on around 12 times prospective 2013 earnings.

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