Order backlog doubled in one year and marked increase in annual turnover

Order backlog doubled in one year and marked increase in annual turnover

MEDIAN Technologies (ALMDT), a leading medical imaging solutions and service provider for image interpretation and management in oncology, announced a doubling of its order backlog (*) in one year.

At 31 December 2015, the company’s order backlog stood at €21.3M, compared to €11M at 31 December 2014. This figure includes contract cancellations amounting to €2.46M in the last quarter of the financial year.

For comparison, on 30 June 2015 the order backlog stood at €18.26M.

In terms of order intake, since October 2015 MEDIAN has recorded €2.86M worth of new orders, consisting of a signed contract for €1.14M with one of the top 20 pharmaceutical companies, and €1.72M in new project awards**.

MEDIAN also posted turnover for financial year 2015 of €3.9M versus €1.5M at 31 December 2014. This major increase in turnover testifies to the numerous advances that MEDIAN has made in its field of business, particularly in clinical trials.

(*) Order backlog refers to customers’ orders that have been received but not invoiced yet.

(**) A project award is a notification announcing that the company’s solution has been selected for a specific project. This should result in a signed contract within 18 months, subject to upstream clinical results.