Name of Entity and ACN: LabTech Systems Limited ACN 107 670 673
Reporting Period: 31 December 2008
Previous Corresponding Period: 31 December 2007
The board will consider payment of dividends depending on future performance of the company. No dividends will be paid at this point.
Commentary on the results is provided in the Directors’ report, which form part of the half year report ended 31 December 2008.
CEO and Managing Director of LabTech Systems, Lusia Guthrie, said “Both revenue and post tax profit have substantially increased as compared to the same period last year. This is a reflection of the Company’s concerted efforts with its partner bioMérieux, which led to the successful launch of the PREVI™ Isola agar plate streaking machine into the global pathology markets in December 2008”.
LabTech Systems does not expect any further milestone payments from bioMérieux prior to 30 June 2009. A further licence milestone payment of 2 million Euros is anticipated in 2010. The Company has reached the important step where it has now qualified to receive ongoing royalty payments on applicator sales.
About LabTech Systems
LabTech Systems is an Australian developer of clinical and diagnostic technology. The company was formed in Adelaide in 2004 and listed on the Australian Securities Exchange on 31 July 2006 (ASX: LBT). In April 2007, LabTech Systems signed an agreement with French healthcare giant bioMérieux to commercialise its first product, now known as PREVI™ Isola. This is a revolutionary robotic system for the automation of microbiology processing and incorporates the breakthrough MicroStreak® technology invented at the IMVS in Adelaide and licensed to LabTech Systems.
PREVI™ Isola is a central part of bioMérieux’s PREVI™ range of automated diagnostic laboratory equipment and was launched in 2008 into global pathology markets. PREVI™ Isola is currently being manufactured under licence in Melbourne and exported to global markets.
For more information, see www.labtechsystems.com and www.biomerieux.com
