Melbourne, Australia, February 24 2016 – Azure Healthcare Limited (ASX:AZV) attaches its half year report for the 6 months ended 31 December 2015.
- Revenue up 0.6% to $17.68 million.
- Gross profit $8.742 million (49.4%) compared to the previous corresponding period of $9.215 million (52.4%) an adverse variance of $0.47 million due to dual facilities in the USA and Australia and increased raw material costs from the higher US dollar.
- NPAT loss of $0.497 million compared to $0.894 million profit for the previous corresponding period.
- Investment in Research and Development (R&D) increased to $2.1 million as compared to $1.87 million in the previous corresponding period.
- Continued policy of expensing research and development costs.
- The company does not presently anticipate the operating loss for the second half of the financial year to be less than the first half of the financial year due to continued R&D investment and restructuring costs.
- New product release of the first component of the Tacera Pulse software platform, Tacera Pulse – Reports and Dashboards;
- Tacera Pulse subscription based software suite is a next generation of clinical business intelligence solutions.
- Provides valuable information to senior healthcare management to monitor call activity, staff response times and other valuable metrics critical to patient care.
- Interfaces with other on-site healthcare systems including, Real-Time Locating Systems (RTLS), Admission Discharge Transfer (ADT), patient flow, smartphones, tablets and other patient care devices to support customer’s operational objectives.
- Management has implemented cost saving measures through the period, which will result in annualised savings in excess of $1 million.
- The Perth factory closure is on track to be completed by this calendar year with further cost saving to be realised.
- Increased operating expenses arising from restructuring and R&D initiatives are expected to reduce toward the end of the calendar year with the further progressive roll out of Tacera Pulse.
- Expected sufficient working capital available to fund the planned restructuring and R&D initiatives.