Toumaz sales fall as development continues

29th Mar 2011 09:36

Wireless technology group Toumaz saw revenues fall in the year to 31 December as it concentrated its activities on developing products that will deliver future sales.The firm, whose products include a 'digital plaster' used to monitor patients' health, posted a pre-tax loss of £6.69m, against a deficit of £4.8m the previous year, on revenues that slipped to £2.25m from £3.96m.The fall in revenues was due to lower development income, a trend that will continue this year. Toumaz is now pinning its hopes on revenues generated from sales of its products.The company has already started delivering its 'Xenif' chip, which is used in PURE digital radios. Sales of the chip are expected to continue growing. The Telran radio chip, which is used in applications such as wireless radio monitoring and remote control devices, was launched in January.The Sensium digital plaster has been submitted for medical approval and will be launched later this year.Toumaz chief executive Chris Toumazou also pointed to a partnership with Quanta, a Taiwanese computer firm, to create a diabetes monitoring system that will connect to an 'app' for iPhones and other devices in the fast growing Chinese healthcare market.Toumaz is also collaborating with California Capital Equity, which is owned by entrepreneur Patrick Soon-Shiong, who owns a stake in the LA Lakers basketball team, to create a Sensium 'sports monitoring device' for basketball. Toumazou told ShareCast that the relationship with Soon-Shiong could also lead to the diabetes monitoring system being launched in the US.RG