News blog
ClearStream Technologies
- BY: Andrew Hore |
- POSTED: 13/03/2008 |
ClearStream Technologies says that there was a significant increase in its second half sales.
The company manufactures balloon catheters and stents used for heart procedures and for minimally invasive surgery to clear clogged arteries. Sales of higher margin peripheral catheters are increasing and ClearStream has signed up new manufacturing partners. This includes a new Far East customer. Production efficiency has improved.
FDA approval for its peripheral angioplasty balloon catheters will also help second half sales. Orders have already been taken for the product.
The company needed extra working capital and it increased its borrowing facility with Bank of Scotland by €350,000. Three directors have lent the company €60,000 at an annual interest charge of 11%.
The shares rose 3.5p to 23.5p.
The interim results will be released on 21 April.
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