Ann: NuSep announces Maiden $3.29m Net Profit , page-2

In case there were some HC adventurers who pressed the wrong keys and dropped in here by accident, be it known that NSP reported their maiden profit today. It is not going to be just a one off surprise. At the report meeting today there was much off the cuff comment, follow up information on the different product strands and forecasts for FY2011. The App 4E report is formally announced but the presentation made at the meeting is yet to be posted. There are various histograms comparing figures over several years and they all impressively indicate the upswing into positive territory. NSP staff were proudly over the Moon. Shareholders were also pleased but there were questions on the status of new products SpermSep (to start yet another trial in Dec 2010 but hopefully finished by mid 2011); ProteomeSep (sales not great yet); ProteoIQ (only have one month's return thus far): there are various new products in the pipeline.

It should be noted that the $3.29 M net profit included a revaluation of an asset, the ProteoIQ co which was apparently bought very cheaply.

Is the company 'home and hosed'? Not at all, but the pieces are strategically positioned for excellent returns, and revenue should be self sustaining from here on. It is wonderful to see such a turn around.

FY 2011 forecast:

Revenue . . . . . . $5.8 M
Gross margin . . . . $4.0 M
Operational profit . $1.8 M

Juke