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ClearStream Technologies
- BY: Andrew Hore |
- POSTED: 21/04/2008 |
ClearStream Technologies expects to move into profit in the third quarter of this financial year.
The company manufactures balloon catheters and stents used for heart procedures and for minimally invasive surgery to clear clogged arteries. New product launches are planned in the second half of the year to July 2008. On top of this its advanced PTA balloon catheters have been approved for sale in the US - they will be sold by Johnson & Johnson subsidiary Cordis. This will boost revenues this year and next year.
ClearStream reported an increased loss of €1.42m in the six months to January 2008. Revenues fell from €4.74m to €3.58m but ClearStream sold more of its higher margin, own brand products. Revenues from equipment manufactured for other companies were flat.
Net debt was €1.8m at the end of January. ClearStream raised £920,000 from a placing last August at 40p a share. The shares fell 1p to 24.5p after the results were announced.
ClearStream will still lose money in the full year but it should be profitable in 2008-09 if the revenue trends continue.
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