Source - SMW
Lifeline Scientific reports solid progress in the six months to the end of June, achieving top line growth while advancing planned new product and territory expansion initiatives.

Financial highlights

0-   Transplantation products and services revenues up by 21.1% to US$18.2m (H1 2015: US$15.0m)

* North America revenues up 20.4% to US$15.0m (H1 2015: US$12.4m)

*Revenue outside of North America of US$3.2m up 24.4% (H1 2015: US$2.6m) representing 17.7% of total revenue (H1 2015: 17.2%)

*  LifePort proprietary consumables up 24.7% to US$10.6m (H1 2015: US$8.5m)

-      Gross profit increased 27.9% to US$11.4m (H1 2015: US$8.9m)

-      Income from operations increased US$1.9m to US$2.0m (2015: US$0.1m)

-      Net income increased US$1.8m to US$1.9m (H1 2015: US$0.1m)

-      Net cash generated from operations of US$1.6m (H1 2015: US$1.0m)

-      Cash of US$7.5m as of 30 June 2016 (as of 31 December 2015: US$6.9m)
Operational highlights:

-     Installed base of LifePort Kidney Transporters grew to 219 transplant programmes in 32 countries worldwide (H1 2015: 204 programmes in 28 countries)

-     Established six new LifePort sites in Europe and Middle East 

-      US FDA review progressing for LifePort Liver Transporter

-      Several new patents issued supporting LifePort and related products

Chief executive David Kravitz said: "Achievements during the first half of 2016 have helped grow our diverse commercial base from which we will continue to expand the Company's support of clinical transplant markets worldwide. 

"Whilst the first half of 2016 has been materially better than the same period last year, the overall performance for the full year is presently expected to be broadly in line with 2015 due to exceptional demand in H1 2016 normalising in the second half. 

"Our focus remains on the development and commercialisation of products and services designed to improve patient outcomes in transplantation."