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Lifeline Scientific reports growth
Lifeline Scientific, which nourishes and transports kidneys for transplant, says full year results will ‘exceed market expectations’.
Based in Chicago and domiciled in Delaware, the company, whose ‘LifePort Kidney Transporter’ pumps nutrition into kidneys en route to be transplanted, says trading in the second half of last year was strong and is continuing to outstrip management’s estimates. Following a turnaround in the first half of 2009 from a $3.2 million (£2 million) interim loss to six-month profits of $45,000 on turnover up 145 per cent to $7.1 million, AIM–quoted Lifeline indicates it achieved pre-tax profitability for the full year on revenues expected to be ‘ahead of brokers’ consensus forecasts’.
The company, steered by chief executive officer David Kravitz, cites a growing body of scientific evidence supporting LifePort as more efficacious in transporting kidneys than conventional ice-filled containers as a principle driver of progress.
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