CRYOSITE LIMITED 24/8/2016
Company Announcements Office Australian Securities Exchange
Cryosite full year profit result
Appendix 4E, Annual report and Dividend announcement
Cryosite (ASX: CTE): Following is the Appendix 4E, Annual Report and dividend announcements.
Operating Result Summary
While revenue increased 3% to $10.1m, profit before tax of $439k was down $168k from the previous corresponding period. The reduction in profit was driven result of decisions made by the Board to continue focusing on its long term strategy of investing in sales, marketing and other initiatives to improve competitiveness in its existing operations and to develop additional revenue streams in new markets to position the Company for continuing growth performance in the following years.
Cash Position
A Company maintains a strong balance sheet with no debt and has $3.7m cash on hand as at 30 June 2016. The Company continues to generate cash flows with $474k cash inflow from operating activities for the period.
Dividends
As a result of the strength of the balance sheet and expected growth in the Company's operations the directors have determined that an unfranked final dividend of 0.5 (half cent) per share will be paid.
Key dates for the dividend payout are
"Ex Dividend Payment" trading commences - 7thSeptember 2016
"Record Date"- last date for CTE Register - 8thSeptember 2016
Dividend payment Date - 4thOctober 2016
Stephen Roberts Chair
About Cryosite:
Cryosite (ASX: CTE) is a unique Australian biotech company that pioneered private autologous Cord Blood Banking in 2002, directed allogeneic Family Banking in 2011, and in 2014 has developed methods for the cryopreservation and expansion of Mesenchymal Stem Cells from umbilical cord tissue.
Cryosite also provides specialised Biorepository, Clinical Trials Logistics, Commercial Drug Distribution, contract Cellular Therapies manufacturing and associated consultancy services to commercial clients both within Australia and internationally. Cryosite's facilities are NATA accredited (ISO15189) and its Cord Blood Stem Cell cryopreservation and storage laboratories are fully licensed by the TGA.
Cryosite LimitedABN 86 090 919 476
Appendix 4EFull year report
0BResults for announcement to the market
Details of Reporting Period
The financial information contained in this report is for the year ended 30 June 2016. Comparative amounts (unless otherwise indicated) relate to the year ended 30 June 2015.
$A'000
2.1 Revenue from ordinary activities:
Up
3.0%
to
10,137
2.2 Profit from ordinary activities after tax attributable to members:
Down
33.5%
to
302
2.3 Net profit for the period attributable to members:
Down
33.5%
to
302
Results for Announcement to the Market
Dividends
The Board of Cryosite has on the 24th August 2016 determined and is pleased to announce the payment of an unfranked dividend of $0.005 (half cent) per ordinary share.
The key dates are:
Ex Dividend Payment: trading commences 7thSeptember 2016 Record Date - last date: for CTE share register 8thSeptember 2016 Dividend payment Date: 4thOctober 2016
Commentary on the results to the market
The audited annual accounts are attached. Please refer to these for full results and commentary.
1B5. NTA backing
Current period
Previous corresponding
Period
Net tangible asset backing per ordinary security
6.0 cents
6.7 cents
8
CRYOSITE LIMITEDABN 86 090 919 476
Annual Report
for the year ended 30 June 2016
Table of ContentsPage
Corporate Information 1
Directors' Report 2
Auditor's Independence Declaration 14
Corporate Governance Statement 15
Directors' Declaration 16
Consolidated Statement of Comprehensive Income 17
Consolidated Statement of Financial Position 18
Consolidated Statement of Changes in Equity 19
Consolidated Statement of Cash Flow 20
Notes to the Financial Statements
Corporate Information 21
Summary of Significant Accounting Policies 21
Significant Accounting Judgements, Estimates and Assumptions 31
Segment Information 34
Revenue 35
Expenses 35
Income Tax 36
Earnings Per Share 38
Dividends Paid and Proposed 38
Cash and Cash Equivalents 38
Cash Flow Statement Reconciliation 39
Current Assets - Trade and Other Receivables 39
Current Assets - Inventories 40
Current Assets - Prepayments 40
Non-Current - Trade and Other Receivables 41
Non-Current Assets - Investments in Subsidiaries 41
Non-Current Assets - Plant and Equipment 42
Non-Current Assets - Intangible Assets 42
Trade and Other Payables 44
Current Liabilities - Unearned Income 44
Non-Current Liabilities - Unearned Income 44
Non-Current Liabilities - Provisions 45
Contributed Equity and Accumulated Losses 46
Reserves 46
Commitments and Contingencies 46
Events After Balance Date 47
Auditors' Remuneration 47
Related Party Disclosures 48
Shared-Based Payments Expense 48
Key Management Personnel 50
Financial Instruments 51
Parent Entity Financial Information 54
Independent Audit Report 56
ASX Additional Shareholder Information 58
Cryosite Limited published this content on 24 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 August 2016 07:14:06 UTC.
Original documenthttp://services.cryosite.com/docs/20160824%20-%20Announcement%204e%20and%20annual%20accounts.pdf
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