Melbourne, 25th August 2009: Cellestis (ASX.CST), which has developed and markets QuantiFERON - a diagnostic for tuberculosis (TB) that is now widely regarded as the most accurate method to test for the disease - has reported record sales and profit for the 2009 financial year.
Dr Tony Radford, CEO of Cellestis said the Board and Management were pleased with the overall result.
“Cellestis has had an excellent and transitional year, reporting an 83 per cent increase in sales revenue, and a record profit of $8.2million.
“We have continued to deliver strong year on year sales growth and this year we are pleased to report increased sales to both new and existing customers. Sales were highest for our US operations, but only by a small margin; overall we performed consistently well in all of our geographic regions, including UK, Europe and Japan which are our major markets.
“These results display the benefit of our business model, which is to supply product directly in the major markets of Europe and the USA, and through committed local distribution partner elsewhere. This contrasts to the model of a single or limited few, distribution partnerships with major international diagnostic groups. We believe our approach will deliver superior shareholder returns over the long term.”
Dr Radford added that the underlying figures demonstrated that Cellestis was in a strong financial position.
“The underlying indicators reveal the strength of our financial performance. Cash flow improved and we have increased net assets by $6.8 million and our cash position to $19.7 million, up 39% from $14.1million.
“Increased expenditure has been directed into sales and marketing, a crucial investment given our business model and one that is reaping returns. We also increased our spend on research and development in the last financial year as we focus on creating new QuantiFERON products and potential new revenue streams for Cellestis in the future.”
Dr Radford commented on the outlook for the year ahead.
“Our aim remains consistent growth, but we are mindful of the risk factors. The economic environment is far from stable, and the attention of high profile diseases such as the H1N1 influenza virus can detract focus from the very real but less fashionable problem of tuberculosis. Nevertheless, we have established a very good base for sustainable growth as we continue penetration of QuantiFERON in the TB diagnostics market."
Cellestis paid a maiden dividend of 1c in February 2009. The Board has now declared a further 2c fully franked dividend payable on 9 October 2009 to shareholders on the register of members as of 25 September 2009.
About Cellestis:
Cellestis is a listed Australian biotechnology company commercialising QuantiFERON® technology for diagnosing TB and other diseases worldwide. The Company operates through subsidiaries in the USA, Europe, Japan and Australia.
For more information, please visit www.cellestis.com
Dr Tony Radford, CEO of Cellestis said the Board and Management were pleased with the overall result.
“Cellestis has had an excellent and transitional year, reporting an 83 per cent increase in sales revenue, and a record profit of $8.2million.
“We have continued to deliver strong year on year sales growth and this year we are pleased to report increased sales to both new and existing customers. Sales were highest for our US operations, but only by a small margin; overall we performed consistently well in all of our geographic regions, including UK, Europe and Japan which are our major markets.
“These results display the benefit of our business model, which is to supply product directly in the major markets of Europe and the USA, and through committed local distribution partner elsewhere. This contrasts to the model of a single or limited few, distribution partnerships with major international diagnostic groups. We believe our approach will deliver superior shareholder returns over the long term.”
Dr Radford added that the underlying figures demonstrated that Cellestis was in a strong financial position.
“The underlying indicators reveal the strength of our financial performance. Cash flow improved and we have increased net assets by $6.8 million and our cash position to $19.7 million, up 39% from $14.1million.
“Increased expenditure has been directed into sales and marketing, a crucial investment given our business model and one that is reaping returns. We also increased our spend on research and development in the last financial year as we focus on creating new QuantiFERON products and potential new revenue streams for Cellestis in the future.”
Dr Radford commented on the outlook for the year ahead.
“Our aim remains consistent growth, but we are mindful of the risk factors. The economic environment is far from stable, and the attention of high profile diseases such as the H1N1 influenza virus can detract focus from the very real but less fashionable problem of tuberculosis. Nevertheless, we have established a very good base for sustainable growth as we continue penetration of QuantiFERON in the TB diagnostics market."
Cellestis paid a maiden dividend of 1c in February 2009. The Board has now declared a further 2c fully franked dividend payable on 9 October 2009 to shareholders on the register of members as of 25 September 2009.
About Cellestis:
Cellestis is a listed Australian biotechnology company commercialising QuantiFERON® technology for diagnosing TB and other diseases worldwide. The Company operates through subsidiaries in the USA, Europe, Japan and Australia.
For more information, please visit www.cellestis.com
