Highlights
Revenues up 19.5% to £26.2m (2013: £21.9m)
o Healthcare generated first significant revenues of £750,000 (2013: £60,000)
o Digital Audio revenues up 16.4% to £25.5m (2013: £21.9m) - up 23.3% at constant exchange rates
EBITDA loss £9.8m (2013: loss £9.4 million) - including R&D expenditure of £11.8m
Group's cash balance was £12.5m (31 December 2014)
Healthcare
o SensiumVitals® deployed in 16 hospitals in UK, US, France, Germany, Italy, Portugal and Australia (31 March 2015)
o US distribution rights regained
o Leading NHS hospital, Queen Elizabeth Hospital Birmingham announces trial to commence in May 2015 (see separate statement issued today)
Digital Audio
o Digital radio unit shipments increased by 25.7% to 4.4m (2013: 3.5m)
o Connected audio next generation chip expected to ship Q4 2015
Anthony Sethill, CEO of Toumaz said:
"We have made good progress towards achieving success for our wireless solutions in Healthcare and Digital Audio.
"In Healthcare, by the end of March 2015, our system had been deployed in 16 hospitals in seven territories; and today we have announced an important new trial with the NHS at Queen Elizabeth Hospital Birmingham.
"Both lines of our Digital Audio have seen healthy revenue growth. We had significant design wins in connected audio; and in digital radio we have completed development of our 4th generation chip and achieved operating profitability.
"In the next two years, we expect to see a significant uplift in revenues. The Group is nearing the end of a period of significant R&D investment and therefore expects to deliver positive cash flow in the first half of 2016."
