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Latest News: Commencement of Formal Sales Process
Highlights
Asterand Releases Interim Results for Period Ended 30 June 2011
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Download Asterand's 2010 Annual Report and Accounts
Highlights
- Revenue of $11.9 million (H1 2010: $8.7 million)
An increase of 36%. Includes full six months of revenue associated with BioSeek as compared to 4.5 months in H1 2010.
- Operating expenses of $6.6 million (H1 2010: $6.0 million)
Includes full six months of operating expenditures associated with BioSeek as compared to 4.5 months in H1 2010
- Loss for the period of $2.3 million (H1 2010: $1.5 million loss)
Includes $1.7 million exceptional interest expense relating to the acquisition of BioSeek
- EBITDA profit of $0.9 million (H1 2010: $1.4 million loss)
- Basic loss per 5p Ordinary Share of 1.9c (H1 2010: (1.3)c)
- Gross Margin of 57% (H1 2010: 50%)
- Cash resources at 30 June 2011 of $4.7 million (31 December 2010: $5.9 million)
- Awarded key BioMAP® patents by the US Patent and Trademark office, solidifying the Company’s IP position for this important platform
- Attained ISO 9001:2008 certification for the Company’s tissue and biobanking operations in Detroit
- Launched isletOrganDOTTM a novel 3D human cell based model for diabetes research
- Partnered with 5AM Solutions to create next generation virtual biobanking software to expand access to geographically distinct biospecimen resources
- Volatile trading experienced post period end (excluding BioSeek) has led to a reduced outlook for the year and the Group is consequently looking to raise funds to bolster working capital
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