This week: Sareum flies, Milestone is on message and Savile sinks
3D Diagnostic Imaging (3D.P.PL 9p /£ 9.66m)
PLUS listed 3D Diagnostic Imaging PLC, whose subsidiary, CarieScan Limited, is a leading producer of handheld devices for the early detection and monitoring of tooth decay, last week announced that Professor Nigel Pitts, Professor of Dental Health at the University of Dundee, has been appointed Chairman to CarieScan's newly formed Scientific Advisory Board. The Board will be responsible for improving understanding of evidence around electrical caries detection and monitoring and how this can be applied to improve patient care.
3D Diagnostic Imaging also announced last week that through Professor Pitts, three of the world's leading dental schools will commence research and evaluation using the CarieScan PROtm. The schools are Maurice H. Kornberg School of Dentistry Temple University, Philadelphia USA, New York University College of Dentistry, and the Dundee University Dental School. This development is of key strategic importance to CarieScan, as the Company works towards its first US distribution deal following obtaining FDA 510K approval for the CarieScan PROtm in December last year.
The CarieScan PROtm measures the presence of tooth decay earlier and more accurately than any other device on the market and is more than 90 per cent accurate in detecting both sound and carious teeth, well ahead of other methods. It detects "hidden" decay, providing dental practitioners with the opportunity to arrest or even reverse decay, driving the trend towards preventative dental care. One to watch as the company is clearly actively looking for a US route to market.
Advfn (AFN 4.95p/ £31.49m)
ADVFN announced interim results for 6 months to 31 December 2009. Turnover increased 19 per cent to £4m (£3.4m) with cash flow positive for the 6 months with cash in hand of £1.8m (£1.2m). Loss for the period was down 28 per cent to £330k (£460k), while EBIT loss reduced 60 per cent to £160k (£395k). Whilst user numbers increased 20 per cent to 1.8m (1.5m) what should be a scaleable model has for sometime failed to translate into operating performance with costs increasing alongside turnover growth, albeit at a marginally lower rate. The company has a strong installed base and management sought to reassure by talking of solid long term prospects but we struggle to see what can underpin such an…
