Microsaic has this morning released results for the year to 31st December 2018, highlighting revenue growth (+69% YoY to £578k) and gross margin improvement (42% from 35% in FY 2017). Microsaic has shown good progress in FY’18, doubling its unit sales (half of which from new customers), and signing 7 new commercial agreements that widen its customer base and geographic commercial reach in North America, Europe and South-East Asia. The planned launch of the award-winning and differentiated protein identification product, ProteinID, later this month at the Pittcon conference is encouraging, and will form the basis of any future partnership discussions in bioprocessing applications. Microsaic’s cash position (31st December FY’18) was £5.4m and in line with management’s expectations reported in a trading update on the 19th December 2018. The Board is confident that the group will continue to deliver strong growth in the current year and has enough cash to cover its anticipated w/c requirements for the foreseeable future.
