Record sales & further profits

Nonlinear Dynamics - record sales and further profits at the bioinformatics software developer

(Newcastle upon Tyne, UK) Nonlinear Dynamics, the leading provider of Bioinformatics solutions, today announced its year-end results for 2002/03, following their approval by auditors Deloitte and Touche.

Will Dracup, CEO of Nonlinear, said, "For the financial year 2002/03, we are delighted to be able to announce a growth in sales from the previous year, and our second best ever profit figures. This follows a year of record turnover and profits in 2001/02, with growth of over 150%, illustrating the scale of this achievement.

"We are particularly pleased because this has occurred in a very difficult market. Indeed our research indicates that we are the only major bioinformatics software supplier in this sector of the market who has returned both profits and a growth in sales over the period. We will maintain our policy of reinvestment to continue and accelerate these trends over the coming years.

"Over the last year, the market for bioinformatics software tightened as a result of a number of factors. These include the move by customers away from enterprise solutions and the freeze in some countries of national Life Science budgets. There has also been a noticeable tightening of spending on proteomics initiatives, following the perceived lack of immediate returns from the publishing of the Human Genome. These factors have certainly affected our business, but by concentrating on the fundamentals of good products, good service and good management, we have grown the business and strengthened our company. The outlook for the coming year is bright, so we are looking forward to another record breaking year."

The Company develops a range of software solutions for the analysis and data-mining of Life Science samples and associated data. From the increased power and objectivity of the leading-edge Progenesis solutions for 2D gel analysis and proteomic data-mining, through the range of Phoretix desktop products for in-depth analysis of 1D and 2D electrophoresis gels and microarrays, to the high functionality of the TotalLab suite of modules for analysis of a range of biological samples, Nonlinear develop and deliver a suite of bioinformatics solutions to cater for a wide variety of requirements within the Life Science laboratory.

Nonlinear has long-standing OEM agreements with Amersham Biosciences and PerkinElmer Life Sciences and also has a number of other important collaborations. Combined with a direct sales force spanning US and Europe, a regional General Manager overseeing Asia Pacific expansion and an international network of strategic partners, Nonlinear continues to build a growing worldwide representation. The Company reports that a number of other partnerships are in the pipeline for 2003/04.

John Spreadbury, Group Sales and Marketing Director, commented, "We have now removed the constraints in our product development and distribution plans. We are taking a number of steps to consolidate our lead within the proteomics market, and we are looking forward to working with a number of new partners over the coming year to further develop this still growing market.

"The financial results we are announcing today reinforce the sound business practice behind our long established approach. For many years, we have focused on developing the best possible products, growing the business through reinvestment, and maintaining profitability. We look forward to continuing this approach over the coming year, maintaining our product evolution, launching new products, announcing new partnerships and building on our enviable customer base still further."

About Nonlinear Dynamics Ltd

Established in 1989, Nonlinear Dynamics is a leading worldwide provider of bioinformatics solutions to the life science industry. The Company's innovative product portfolio comprises high-quality analysis and data mining tools for 1D and 2D electrophoresis gels and microarrays, the core technologies of genomics and proteomics. Nonlinear sells and supports its products through its UK headquarters, its USA office, and its global network of partners and OEMs.

Contact us for more information, or contact our Marketing Department directly.
Released: 01 August 2003

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