Year End Trading Update (3421M)
15 Août 2011 - 8:00AM
UK Regulatory
TIDMCTN
RNS Number : 3421M
ClearStream Technologies Group PLC
15 August 2011
For Immediate release 15 August 2011
ClearStream Technologies Group plc
("ClearStream" or "the Company")
Year-End Trading Update
ClearStream Technologies Group plc ("ClearStream") the
specialist global supplier of medical devices used in coronary and
peripheral interventional procedures, announces the following
trading update in advance of the publication of its preliminary
results for the year ended 31 July 2011.
The financial performance of the Group is anticipated to be
comfortably in line with current market expectations, with total
revenues expected to show a significant increase over the previous
year, particularly pleasing given they include only one month's
contribution from the re-introduction to the market of the
Intrepide range. This performance has been driven by continuing
growth in sales of peripheral devices both to existing markets and
into new territories opened up during the year as the Group further
expands its distributor network. These include China which is
currently the Group's fastest growing market.
The Board is also pleased to report a noticeable improvement
towards the latter part of the year in the sale of ClearStream's
coronary products. These include the Satinflex range which has been
introduced into new territories and, following an absence from the
market of more than twelve months, the re-introduction of its
Intrepide range of drug eluting stents at the beginning of July.
This follows the successful completion of certain technical and
design revisions to the Intrepide and subsequent CE Mark
approval.
Also during the year several new product registrations and
approvals have been achieved including FDA approval for the ReeFlex
catheter and Sleek OTW distributed by Cordis. The Company was able
immediately to leverage these new registrations within its existing
distributor network. In addition, in March this year, new
distributors were appointed in Scandinavia, the Middle East and
Asia Pacific regions.
Traditionally, ClearStream enjoys stronger trading in the second
half of the financial year and 2010/11 looks to be no exception.
Sales of co-label and OEM products are healthy whilst the Company
is seeing a good recovery in own-brand product sales. Cash
generation has remained very positive, whilst sales of both
peripheral and coronary products into new territories have been
very encouraging.
The board looks forward to continued progress across all
fronts.
For further information:
ClearStream Technologies Group Tel: + 353 (0) 53 923
plc 7111
Andrew Jones, CEO
Winningtons Financial Tel: + 44 (0) 117 985
8989
+ 44 (0) 7768 807631
Paul Vann
FinnCap Tel: + 44 (0) 20 7600
1658
Marc Young, Corporate Finance
Charlotte Stranner, Corporate
Finance
Simon Starr, Corporate Broking
About ClearStream:
ClearStream, , based in Enniscorthy, Co Wexford, Ireland, is an
innovative maker of medical devices used in peripheral (lower limb)
and coronary interventional procedures, including catheters and
stents. Its products are sold under ClearStream's own brands and
are also supplied to Original Equipment Manufacturers.
The Company is listed on the AIM market of the London Stock
Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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