1st Feb 2016 09:22
LONDON (Alliance News) - TyraTech Inc said Monday it expects to report a net loss in line with expectations for 2015, and "marginally" lower revenue than expected.
The life sciences technology attributed the revenue miss to "difficulties in budgeting the timing of revenues arising from the on-boarding process of multiple new retailers."
However, TyraTech said 2015 had seen a large increase in year-on-year revenue and "healthy gross margins" as it continued to commercialise head lice treatment Vamousse.
Vamousse has seen "wide spread retail acceptance" in the US and UK, the company said, and is now the fastest growing national brand head lice product in the US, according to TyraTech.
TyraTech will report its 2015 results on April 7.
Shares in TyraTech were untraded Monday morning. They last closed at 2.60 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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