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UPDATE 1-Biocompatibles Q1 revenues beat expectations

Fri Apr 17, 2009 2:53am EDT

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* Revenue beats forecasts on currency and sales

* Cash at quarter-end 33.9 million pounds

(Adds details)

LONDON, April 17 (Reuters) - Drug eluting bead specialist Biocompatibles (BII.L) reported on Friday first quarter revenues which beat expectations.

The revenues were driven by the benefit from the weakness of sterling and stronger-than-expected sales of its drug eluting bead product.

It said cash at the quarter-end point was 33.9 million pounds ($50.34 million).

It reiterated its guidance of between 22 million pounds and 24 million pounds revenue for 2009, and closing net funds of 27 million pounds.

In March, Chief Executive Crispin Simon told Reuters he expected to reach profitability by 2012. [ID:nL5298632]

(Reporting by Ben Deighton)



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