17th Jan 2014 09:52
LONDON (Alliance News) - Toumaz Ltd said Friday that it expects to see declines in revenue, and its earnings before interest, tax, depreciation and amortisation (EBITDA) loss to be narrowed for the full year ended December 31, 2013.
The wireless semiconductor technology company expects an EBITDA loss of around GBP10.2 million, narrowed from a loss of GBP11.2 million in the previous year.
Revenue is expected to be around GBP21.8 million, down from GBP22.3 million the year before.
The company completed a GBP17.1 million fundraising in November, leaving it with a year-end cash position of GBP21.5 million.
The company's wireless patient monitoring system SensiumVitals has been shipped for deployment in North America and will go live in the last week of January. SensiumVitals also has received authorisation in the UK, where it will launch with Spire Healthcare in mid-February, and Australia. The company said it is seeking further distributors in other key territories.
The company said that the development of its new integrated chip processor Chorus 4, designed for digital radio, was progressing well, and it expects its first revenues from the chip in the fourth quarter of 2014.
Shares in Toumaz were trading up 1.6% at 4.07 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
TMZ.L