Immunodiagnostic Systems Share Discussion Threads

[silverfern] 19/8/2005 12:16

Was enough to prompt me to buy in last week - it's held up nicely

[seible] 12/8/2005 11:29

80p here we come!

[alftupper] 24/7/2005 12:54

Honiton

It would seem a sensible target for Axis-Shield and it would probably work for both companies.

[honiton] 20/7/2005 13:54

Target for Axis Shield??

[alftupper] 12/7/2005 09:13

A ggod set of results today - positive feedback from the marketplace in terms of next year's expectations - aggressive growth anticipated - watch this space

[philmiboots] 27/2/2005 14:25

New Distribution Agreement with GroPep!
Tuesday 25th Jan 2005

IDS Ltd. announce a new distribution agreement with GroPep Limited, Adelaide, Australia. IDS will distribute an extensive range of multi-species Growth Factor and GF-Binding Protein antibodies worldwide.

[alftupper] 21/2/2005 10:19

This looks like a good acquisition to anyone with any knowledge of the area

[ntv] 17/1/2005 18:07

out end of week

[ntv] 11/1/2005 17:59

nice up tick again

[philmiboots] 11/1/2005 13:58

Onward and upward.
:o)

[peppercorny] 10/1/2005 17:57

Alftupper,

That would make sense - they have probably invested a large amount of time and money setting up their overseas operations and the reward will take some time to follow through. They also will have invested a lot to get their current portfolio of products and I'm assuming they can be sold anywhere in the world. I haven't researched their competition yet, nor their production costs.

The current PE is a bit steep for my liking, but I like the story and will follow the action as it unfolds.

Thanks for your help.

Rob

[alftupper] 10/1/2005 17:37

There exists a pre-float note produced by the House Broker - I do not have a copy so I am going on heresay - at one level your interpretation for 2005 is correct I was looking a year further out. My understanding is that by establishing their direct sales outlet in Germany that they will have the opportunity to enhance profitability significantly. MRSA is not due for launch until end of 2005.

[peppercorny] 10/1/2005 17:02

alftupper,

The only public documentation I can find is the AIM admission document and the RNS. I don't believe there are any flaws in my figures but clearly my interpretation is incorrect or I am missing something - what is it? Perhaps the MRSA testing kit will be a significant earner but I can't find any figures from the company itself.

If you know something, why not share it?

BTW I don't subscribe to watshot/t1ps/uk-analyst.

Rob

[alftupper] 10/1/2005 14:50

I think you need to DYOR - the forward p/e as I understand it is about 5 for 2006 - also there was a write up in Wapshot worth looking at.

[peppercorny] 07/1/2005 19:42

Here's a rough stab at some figures:

13,237,703 shares issued.
NAV = 1,906,000
NAV/share = 14p

Profit to 30/9/04 (6 months) = 43,000

EPS (6 months) = 0.325p

P/E (6 months at todays price of 58p) = 178 or 89 over 12 months.

Sales growth of 16% yoy over last 7 years. Assuming similar earnings growth then forward P/E (2005) is 77.

Anyone care to comment?

[the count] 07/1/2005 15:38

THE COUNT--->ALL

I just nibbled another 10k @ 59.5p as a new year prezzie.

Nice to see a few buys today as it looked pretty dead for the first few days.

THE COUNT!

[the count] 07/1/2005 13:55

THE COUNT--->ALL

I have taken a £25,000 slug of this in the T&G placing.

I was told of it because I know David Evans (the current chairman) and trust and respect the man. I got to know David well while he was FD and then CEO at ASD, a company I have been invested in since 1996.

David is as straight and conservative, but most importantly, as honourable as they come. I have no doubt that what has been announced to the markets so far is likely to be highly conservative. The company has growing turnover and profitability and could easily be trading at 3 to 5 times turnover. But the market will sit back and wait and see, and hopefully value the stock accordingly.

The stock is very tightly held so liquidity will not be good. This is a good thing in a growing company and obviously not so good if anything were to go wrong.

I am backing the company first and foremost because of my faith in David Evans. I am now trying to catch up and understand all the technologies in their portfolio, but I am totally relaxed.

I think it's going to be a good 'un.

Regards,

THE COUNT!

[ntv] 07/1/2005 13:17

7 January 2005

IDS on course for a record year

 
Recent Aim issue, Immunodiagnostic Systems, (IDS) is on course for a record year due to buoyant demand for its diagnostic testing kits. The firm was the subject of a 3i-backed management buyout in 1996, but has grown significantly since by moving into new markets and expanding its product range.

IDS supplies kits to clinical laboratories. It focuses on immunoassays used in bone disease and sells to over 20 countries. Later this year, a product for hospital-acquired infection MRSA is planned. IDS has raised £1.8m at 51p a share, valuing the firm at £7.4m.


IDS has an attractive niche in a market estimated to be worth in excess of $4bn.

[ntv] 07/1/2005 10:54

good write up in ic

[philmiboots] 06/1/2005 21:11

5k?
Good man!
;o)

[ntv] 06/1/2005 17:40

bought a few today

[philmiboots] 31/12/2004 09:20

RNS Number:9016G
Immunodiagnostic Systems Hldgs PLC
30 December 2004

30 December 2004

Immunodiagnostic Systems Holdings PLC

Unaudited Interim Results
for the Six-Month Period to 30 September 2004

"Immunodiagnostic Systems Holdings plc manufactures and distributes medical
diagnostic products in the immunoassay segment of the in-vitro diagnostics
market."

CHAIRMAN'S STATEMENT

As this is the first interim statement of the Group it is necessary to detail
the historical background to the establishment of the Company and the Group in
order that you have a fuller understanding of the accompanying accounts.

The Company was incorporated on 4 June 2004 with the name Immunodiagnostic
Systems Holdings plc and with an authorised share capital of #120,000 divided
into 120,000 ordinary shares of #1 each ("Ordinary #1 shares"), of which 2
shares were issued, unpaid, on incorporation.

On 13 July 2004 the Company's authorised share capital was increased to #196,666
by the creation of an additional 57,000 A ordinary shares of #1 each ("A
Ordinaries") and 19,666 non-voting ordinary shares of #1.00 each ("Non-Voting
Ordinaries").

On 13 July 2004 119,998 Ordinary #1 Shares were allotted and issued, the 57,000
A Ordinaries were allotted and issued and the 19,666 Non -Voting Ordinaries were
allotted and issued all in consideration for the transfer to the Company of the
entire issued share capital of Immunodiagnostic Systems Limited ("the
Subsidiary") pursuant to an agreement between the Company and the shareholders
of the Subsidiary dated 13 July 2004.

On 22 December the Company's authorised share capital was increased to
#1,000,000 by the creation of an additional 803,334 Ordinary #1 Shares, each A
Ordinary was converted into one Ordinary #1 Share, each Non-Voting Ordinary was
converted into one Ordinary #1 Share and each Ordinary #1 Share was subdivided
into 50 Ordinary shares of 2p each.

On 24 December 2004, the Company's shares were admitted to AIM in a successful
placing raising #1.12m, net of costs.

The Company has not traded, incurred neither profit nor loss and neither
declared nor paid dividends or made any distributions since the date of
incorporation. Accordingly, the results presented in this report reflect the
consolidated trading results of the Subsidiary and its subsidiaries and
associates.

Results:

Turnover for the Group amounted to #2.5m reflecting underlying growth in our
core products, which on a comparator basis was a 16.9% increase.
As expected the Group made a profit this period benefiting from an increased
margin on increasing sales which more than offset the increase in other costs
incurred within the business which is inline with our strategic plan. This
resulted in an EBITA of #144,000 and an Operating Profit of #96,000 with a
Profit Before Tax of #57,000 and after tax of #43,000.

Business Overview

The Group has continued to grow and despite the distraction of achieving a
flotation on AIM in December the operational management team have remained
focussed thus allowing us to remain on plan with regard to profitability.

The Group's US subsidiary has seen continued growth from a low base and the
clearance to market for our Flagship Vitamin D product this month will ensure
further growth in this key market.

This month has also seen the establishment of IDS GmbH and as of the beginning
of February we will be able to sell our flagship product into this key territory
and looking forward we are looking to establish a French direct sales outlet in
late 2005.

In terms of product development we have successfully launched in September our
BAP assay, an assay acquired under licence from a major diagnostics company.
Additionally during the summer we signed an agreement to work with another
company to place our Vitamin D product onto a major Diagnostic company's
automated instrumentation. This is a major project lasting over two years.

During the summer we also acquired under licence the rights to an isothermal
nucleic acid technology for laboratory use. This included the rights to a
prototype MRSA test which had already been subject to clinical trial and the
results published in the Journal of Clinical Microbiology. Until we received the
funding through our AIM flotation we have not been able to progress this
opportunity. We believe that this technology will offer significant upside as
the Group pursues the opportunity of building a panel of tests to combat the
almost endemic problem of Hospital Acquired Infection.

Board Management and Team

On 22nd December the Board appointed two additional Non-Executive Directors in
Will Dracup of Nonlinear Dynamics and Dr Eddie Blair of Integrated Medicines.
The Management has been strengthened with the appointment of Tony Wilks as CEO
of IDS GmbH.

Outlook

The Directors believe that the Group is making good progress with the execution
of its strategic plan. We see good opportunities for continued development of
our business both domestically and abroad. With the flexibility and breadth of
experience of our people we believe that new product development along with our
ability to sell new and existing products (both manufactured internally and
those acquired from third parties) through our sales and distribution channel
will positively impact upon sales and margins.

David Evans
30th December 2004