Unaudited Preliminary Results
27 March 2013
("Instem", the "Company" or the "Group")
Unaudited Preliminary Results
Instem plc (AIM: INS.L), a leading provider of IT applications to the global early development healthcare market, announces its unaudited preliminary results for the year ended 31 December 2012.
- Revenues of £10.7m (2011: £10.8m)
- Recurring revenues accounted for 70% of total revenues (2011: 70%)
- SaaS (Software as a Service) revenue up 12% to £1.1m (2011: £1.0m)
- Adjusted operating profit* £1.5m (2011: £2.0m). in line with revised market expectations
- Reported profit before tax £1.3m (2011: £1.5m)
- Basic earnings per share 8.9p (2011: 8.6p)
- Closing cash balance as at 31 December 2012 of £2.5m (2011: £3.4m)
- Customer retention rate remained strong at over 95%
- A number of prestigious contract wins including:
- The US National Institute of Allergy and Infectious Diseases (NIAID)
- JOINN Laboratories, China’s largest provider of pre-clinical studies
- Advinus Therapeutics and Lupin Limited in India
- One of the world’s largest Biopharmaceutical organisations
- A leading Japanese pharmaceutical company
- Improvements to the product set through the release of Provantis 9, the next generation of our leading pre-clinical drug safety data collection software, Provantis Portal for remote data access, Omniviz® 6.1, an upgraded version of our visual data analytics platform, further modules in the Centrus™ suite and Logbook™, our paperless solution for laboratory and other data recording
- A significant post year end US government contract win for Provantis 9, announced in late February 2013, with the National Institute of Environmental Health Sciences committing to an agreement lasting up to ten years
* Operating profit before amortisation, share based payment and non-recurring items.
Phil Reason, CEO of Instem plc, commented:
“The market inertia experienced earlier in 2012 now appears to be largely resolved, with several new contracts secured in December and in the first quarter of 2013. North America and the emerging markets appear to be the most buoyant, offsetting continuing difficult conditions in Europe. While Provantis sales are anticipated to continue to deliver the majority of revenues to the Group for some time, the growing interest in our Centrus and translational science capabilities offers additional revenue avenues for the future.
“Instem is a robust business, with net cash and a valuable customer base delivering high levels of recurring revenue. The business has been developed extensively in the last few years and is continuing to increase its strong global market share. We believe Instem continues to be well positioned to take advantage of the structural changes in the processes of drug development that are currently taking place. Both the regulatory and fiscal environments continue to be favourable to Instem, driving demand for all areas of our product suite.”
Download the full results:
Instem Final Results PDF (269 KB)
For further information, please contact:
|Phil Reason, CEO||+44 (0) 1785 825600|
|Nigel Goldsmith, CFO|
|N+1 Singer (Nominated Adviser & Broker)||+44 (0) 20 7496 3000|
|Wallbrook Financial PR||Tel: +44 (0) 20 7933 8000|
|Paul Cornelius||or email@example.com|
Instem is a leading supplier of IT applications to the early development healthcare market delivering compelling solutions for data collection, management and analysis across the R&D continuum. Instem applications are in use by customers worldwide, meeting the rapidlyexpanding needs of life science and healthcare organisations for data-driven decision making leading to safer, more effective products.
Instem’s portfolio of software solutions increases client productivity by automating study-related processes while offering the unique ability to generate new knowledge through the extraction and harmonization of actionable scientific information.
Instem supports over 450 clients through full service offices in the United States, United Kingdom and China with additional locations in Japan and India.
To learn more about Instem solutions and its mission, please visit instem.com.