Trading Update (9875A)

TIDMCTN

RNS Number : 9875A

ClearStream Technologies Group PLC

10 February 2011

For Immediate release 10 February 2011

ClearStream Technologies Group plc

("ClearStream" or "the Company")

Trading Statement

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 interim results to 31 January 2011 which are expected to be announced on March 24 2011.

The Board is pleased to report that ClearStream has enjoyed a good start to the year and that at the half year point results are anticipated to be comfortably in line with market expectations for the full year to 31 August 2011.

The improvements and expansions introduced during 2010 into the Company's production lines to increase flexibility and consistency in manufacturing and to provide the additional capacity needed to meet the growth in demand for its products, have been successfully integrated. Yields, through put and gross margins are all showing progressive improvement. The Company now operates the equivalent of nine production lines and plans to introduce an additional line during the next quarter. With the recently announced support of Enterprise Ireland, ClearStream has acquired additional factory space to service the current and forecast increases in production and is planning to invest in further R&D to maintain its leading position in the peripheral intervention area The new facilities are expected to be operational by June.

During the period, sales of co-label and OEM products have been very healthy and, following a slower start, sales of own brand products are now trending upwards. Cash flows are healthy and the Company has been able to fund the expansion in its activities without resort to external finance.

Traditionally, ClearStream enjoys stronger trading in the second half of its financial year and the Directors anticipate a good performance during the second half of the current year driven by further demand for OEM product, the successful launch by Cordis, on a co-label basis, of the new, ground-breaking Sleek OTW catheter in North America and continued momentum in its own brand product sales.

For further information:

 
 ClearStream Technologies Group   Tel: + 353 (0) 53 923 
  plc                              7111 
 Andrew Jones, CEO 
 Winningtons Financial            Tel: + 44 (0) 117 985 
                                   8989 
 Paul Vann 
 FinnCap                          Tel: + 44 (0) 20 7600 
                                   1658 
 Marc Young, Corporate Finance 
  Charlotte Stranner, Corporate 
  Finance 
  Stephen Norcross, 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

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