Immunodiagnostic Systems Release: Final Results For The Year Ended 31 March 2014

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Immunodiagnostic Systems Holdings PLC ("IDS", the “Group” or the “Company"), a leading producer of manual and automated specialist diagnostic testing kits and instrumentation for the clinical and research markets today announces its final results for the year ended 31 March 2014.

Launch of Strategic Plan

• IDS’s vision is to be a leading solution provider to the clinical laboratory diagnostic market
• Our 5 year target is to double revenues from current levels by increasing our installed base of IDS-iSYS instruments by over 1,000 and increasing the automated menu by over 80 assays
• Improving market penetration of our proprietary IDS-iSYS instrument platform through assay menu expansion:
o internally developed “endocrinology excellence” menu, and
o a broader complementary menu developed through partnership
• Greater market penetration of core markets (US and Europe) with geographic expansion targeted at the fast-growing markets of China and Brazil
• Continued investment for growth: enhancing operational scalability
• M&A strategy to expand presence and market leadership in key identified niche segments Operational Highlights
• Development of IDS-iSYS Mark II remains on track for H1 2015
• Chinese and Brazilian market entries are progressing well
• 35 net direct placements (2013: 88) and in total 92 instruments sold/placed (2013: 138)
•In 2013 FDA clearance of two automated assays: Direct Renin and 1,25 vitamin D Financial Highlights
• Return to top line growth with revenues up 5.0% to £52.3m (2013: £49.8m)
• Automated revenues (IDS-iSYS), 42.8% of overall revenues, increased by 21.0% to £22.4m (2013: £18.5m)
• Revenues from manual tests, 39.8% of overall revenues, decreased by 18.0% to £20.8m (2013: £25.3m)
• Gross margin increased to 74.5% (2013: 73.1%), reflecting changing product mix
• Adjusted EBIT increased to £10.1m (2013: £9.8m) before exceptional items; Statutory EBIT of £8.3m (2013: £10.0m)
•Adjusted basic EPS before exceptional items of 28.7p (2013: 27.2p); basic EPS of 24.0p (2013: 27.5p)
•Cash generated from operations of £13.8m during the financial year, closing net funds of £26.7m (2013: £19.6m)
• Proposed increased dividend of 8.5p (2013: 3.0p), reflecting revised dividend policy

Patrik Dahlen, CEO of IDS, commented:

“We are pleased with the progress made during the last financial year as well as trading in the first couple of months of the current period, both of which were in line with management’s expectations. We believe the reported results highlight the continuing potential of our automated assays run on our proprietary instrument platform, the IDS-iSYS system, to be the core driver of growth.

“We are confident that the Strategic Plan for the Group outlined today will allow us to fully unlock the potential in the business and offers a real opportunity to deliver significant and sustainable shareholder value creation in the medium term and beyond. There remains a great deal of work to do to further improve our performance including enhancing the scalability of our operations and increasing our rate of internal assay development. We strongly believe that the key to success is to substantially improve the utilisation of the IDS-iSYS and that this can be achieved through a significant increase in assay menu, both through internal development and partnership”.

“With the right team now in place we have begun to execute on this ambitious strategy and we look forward to keeping shareholders updated as to progress.”

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