Hamilton Thorne Announces Record Revenue for the Quarter and Year Ended December 31, 2020 - Seite 2

The Company generated over $5 million of cash from operations for the year, ending the year with cash on hand of $21.8 million, versus $12.8 million at December 31, 2019, and $7.5 million available under existing lines of credit to further support its acquisition program.

OUTLOOK

Mr. Wolf added, “Looking forward into 2021, we are extremely optimistic about the long-run but cautious in the short term, particularly the first half. In part due to encouraging progress with vaccines, ART clinics are largely open and the consensus is that, on a world-wide basis, they are operating at roughly 90% of capacity. On the other hand, the Covid-19 pandemic continues to evolve and in a number of countries, including those in some of our major markets, populations are subject to renewed lockdowns and restrictions which could lead to reduced demand for consumables and renewed caution on capital equipment purchasing. Our planning for 2021 is based on the assumption that our markets will largely normalize in the second half of the year. While we will carefully watch developments, we are planning to continue to make investments in personnel, R&D programs, and systems to support our growth, with an eye to balancing top-line growth with sustained EBITDA performance in the mid-term and EBITDA expansion over the longer term. Finally, our acquisition program has an active pipeline and, with $21.8 million in cash and $7.5 million in line of credit availability, we are well positioned to execute on acquisition opportunities.”

Mr. Wolf continued, “I can say without reservation that I am glad to see 2020 in the rear-view mirror. This has been a challenging year at both the business and personal level for all of us. I would like to thank all of our employees who have shown remarkable resiliency and dedication to our business and our customers, and to our business partners and shareholders for the support they have shown our company.”

The financial information contained in this news release is based on management's estimates and is subject to adjustment. The Company expects to release its completed audited financial statements for the year ended December 31, 2020 in early April 2021.

All amounts are in US dollars, unless specified otherwise, and results, with the exception of adjusted EBITDA and organic sales growth measures, are expressed in accordance with the International Financial Reporting Standards ("IFRS").

About Hamilton Thorne Ltd. (www.hamiltonthorne.ltd)

Hamilton Thorne is a leading global provider of precision instruments, consumables, software and services that reduce cost, increase productivity, improve results and enable breakthroughs in Assisted Reproductive Technologies (ART), research, and cell biology markets. Hamilton Thorne markets its products and services under the Hamilton Thorne, Gynemed, Planer, and Embryotech Laboratories brands, through its growing sales force and distributors worldwide. Hamilton Thorne’s customer base consists of fertility clinics, university research centers, animal breeding facilities, pharmaceutical companies, biotechnology companies, and other commercial and academic research establishments.