ClearStream Technologies Group plc Year-End Trading Update

ClearStream Technologies Group plc Year-End Trading Update

ClearStream Technologies Group plc 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 preliminary results for the year ended 31 July 2011.

The financial performance of the Group is anticipated to be comfortably in line with current market expectations, with total revenues expected to show a significant increase over the previous year, particularly pleasing given they include only one month's contribution from the re-introduction to the market of the Intrepide range. This performance has been driven by continuing growth in sales of peripheral devices both to existing markets and into new territories opened up during the year as the Group further expands its distributor network. These include China which is currently the Group's fastest growing market.

The Board also reported a noticeable improvement towards the latter part of the year in the sale of ClearStream's coronary products. These include the Satinflex range which has been introduced into new territories and, following an absence from the market of more than twelve months, the re-introduction of its Intrepide range of drug eluting stents at the beginning of July. This follows the successful completion of certain technical and design revisions to the Intrepide and subsequent CE Mark approval.

Also during the year several new product registrations and approvals have been achieved including FDA approval for the ReeFlex catheter and Sleek OTW distributed by Cordis. The Company was able immediately to leverage these new registrations within its existing distributor network. In addition, in March this year, new distributors were appointed in Scandinavia, the Middle East and Asia Pacific regions.

Traditionally, ClearStream enjoys stronger trading in the second half of the financial year and 2010/11 looks to be no exception. Sales of co-label and OEM products are healthy whilst the Company is seeing a good recovery in own-brand product sales. Cash generation has remained very positive, whilst sales of both peripheral and coronary products into new territories have been very encouraging.

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