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Microsaic Systems plc. (3/23/15). "Press Release: Preliminary Results for the Year Ended 31 December 2014".

Organisations Organisation Microsaic Systems plc (AIM: MSYS)
  Organisation 2 GE Healthcare
  Group General Electric (Group)
Products Product 4000 MiD® desktop MS system
  Product 2 MiDas™ compact interface unit (Microsaic)
  Index term 2 Kinesis–Microsaic: mass spectrometer, 2015Q1– distribution of 4000 MiD by Kinesis Ltd in UK + Europe + India
Person Person Jump, Colin (Dawes Scientific 201602– CEO at ETP before Microsaic CEO + Managing Director Shimadzu UK + SGE Europe)
     


Microsaic Systems plc (AIM: MSYS), the developer of chip-based scientific instruments, announces its preliminary results for the year ended 31 December 2014 and an update on trading since the year end.

2014 Highlights

> Signing of two further OEM agreements. One with Gilson Inc. for our single quadruple unit (the 4000 MiD®) and a second with a leading global scientific company for our triple quadrupole mass spectrometry technology

> Signing of an important agreement with Plexus Corp. for the manufacture of the 4000 MiD® to meet increasing demand


Post-period update

> Signing of an OEM agreement with GE Healthcare for both the 4000 MiD® and our MiDas™ unit

> Signing of a distributor agreement with Kinesis Ltd for the distribution of our 4000 MiD® in the UK, Europe and India


Financial summary

> Revenue up 32% to £1.20 million (2013: £0.91 million)

> Placing of 10,500,000 ordinary shares raising £4.41m before costs

> Cash at 31 December 2014 £4.55 million (2013: £3.24 million)


Colin Jump, Chief Executive of Microsaic Systems plc, commented:

“I am pleased with the progress that Microsaic has made across all areas of its business in 2014. We have signed a further three OEM agreements targeting specific applications, a manufacturing agreement that provides capacity to meet expected commercial demand and a distributor agreement for our own branded instruments in key markets. Together, this provides Microsaic with a strong base for the business to move forward and is a significant step forward from our position 12 months ago.”

   
Record changed: 2016-03-20

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