Alltracel revenue jumps 317% in 2005 following Westone acquisition

By Angela McDaniels

Seattle, April 11 - Alltracel Pharmaceuticals plc said its preliminary results for 2005 and the first quarter of 2006 show a 317% increase in full-year revenue to €19.2 million for 2005 from €4.6 million for 2004.

Revenue increased by 7% to €4.4 million for the first quarter of 2006 from €4.1 million for the first quarter of 2005.

The company said the figures include revenue from Westone Products Ltd., which Alltracel acquired in January 2005.

EBITDA loss fell by 74% to €1.1 million for 2005 from €4.3 million for 2004. EBITDA was positive in the second half of 2005 by €200,000, compared with an EBITDA loss of €1.3 million in first half of 2005.

The full-year loss before taxes fell by 61% to €2.1 million for 2005 from €5.4 million for 2004.

"In 2005, there was a key focus on improving the overall efficiency of the business whilst ensuring continued revenue growth," chief executive officer Tony Richardson said in a company news release.

"[T]he successful integration of the acquired specialist oral care business Westone and subsequent synergies have been earnings enhancing and have resulted in sustainable cost savings without compromising continued revenue growth. We expect this profitability improvement to continue throughout 2006."

Alltracel is a Dublin, Ireland, medical technology company focused on the wound care, oral care and cardiovascular health markets.

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