Alltracel on track to meet analysts forecasts

FIRST AID product developer Alltracel Pharmaceuticals remained on track to meet analysts forecasts when it reported strong third-quarter revenues of €0.7 million yesterday, up from €0.1 million in the same period last year.

The figures brought Alltracel’s revenues to €2.7 million for the year to date, more than four times the revenues generated in the first nine months of 2003. Chief executive Tony Richardson said the increase in revenues was in line with the Sallynoggin-based company’s own forecasts.

The third quarter was expected to be the company’s weakest for seasonal reasons. Davy analyst Jack Gorman said Alltracel had continued its revenue momentum and expected full-year revenues of €4.6 million, a slight increase from previous forecasts. He said the company was capable of bringing in €1.9 million in revenues in the last three months of the year.