Business
AorTech Announces Final Resul
AorTech Announces Final Resul.
About this update from Rua Life Sciences Plc
[{"type":"text","content":"\n RNS Number : 0578W Aortech International PLC 22 July 2009 \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n \n AorTech International plc \n('AorTech' or the 'Company')\n Results for the year ended 31 March 2009 \n\nAorTech International plc (AIM: AOR) the biomaterials and medical device development company, today announces its results for the year ended 31 March 2009.\n\n \nFinancial Highlights (vs. prior year)\n • Group turnover decreased from £1.5m to £1.3m \n • Pre tax loss remained at £2.1m\n • Cash reserves decreased from £5.3m to £4.2m \n- Ends -\n\n\n\n\n\nFor further information please contact:\n\n\n\n\n\n\n\n\n\nAorTech International plc\n\n\nTel: + 1 801 201 4336\n\n\n\n\nFrank Maguire, Chief Executive\n\n\n\n\n\n\n\nEvolution Securities\nBobbie Hilliam\nChris Clarke\n\n\nTel: +44 20 7071 4300\n\n\n\n\nAorTech International plc\nSarah Price, Investor Relations\n\n\nTel: + 1 801 649 4163\ne-mail [email protected]\n\n\n\n\n\nNotes to Editors:\nAbout AorTech International plc\nListed on AIM in London, AorTech International plc wholly owns AorTech Biomaterials based in Melbourne, Australia and AorTech Medical Devices based in Salt Lake City, UT, USA. AorTech Biomaterials was formed in July 1997 to develop and commercialise Elast-Eon™, a highly useful and biostable co-polymer in the medical device and drug delivery fields.\nAorTech's Elast-Eon technology is the product of a decade of fundamental research into biologically stable materials. Elast-Eon materials are patented, high silicone content, polyurethane co-polymers which exhibit unparalleled biological and mechanical performance.\nAorTech is firmly focused on the development of this material with the aim of providing a wide range of high performance Elast-Eon materials in a variety of application specific formulations and densities, for use in medical devices.\n \nCHAIRMAN'S STATEMENT\n\n\nI am pleased to report to you on another year of progress for the Group.\nFinancial Review \nGroup revenue for the year ended 31 March 2009 was £1.3m, a decrease of £0.2m in the figure achieved in the prior&...