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Uscom achieves first ever cash flow positive quarter

The cash receipts for the quarter is up 41% compared to Q3 2016.
Uscom has been consistently investing in product development

Uscom (ASX:UCM) has achieved its first ever cash flow positive quarter, with results for the Q3 2017 quarter demonstrating record cash receipts of $1.41 million.

The cash receipts for the quarter is up 41% on the corresponding quarter in 2016 ($1 million).

This includes customer cash receipts of $0.91 million, up 43% compared to $0.64 million in Q3 2016.

Uscom manufactures and markets the USCOM 1A, the Uscom BP+ and other devices that measures cardiovascular function, detects irregularities and is used to guide treatment.

During the quarter, Uscom had been finalising regulatory submissions for approval of its products for sale in China, Europe and the U.S.

Uscom is a member of a consortium which was recently awarded a European scientific research grant to promote pulmonary recovery training and drug uptake under the Eurostars program.

The total value of the project is $1.86 million and Uscom will receive $492,000 over the next two years.

The company had a cash balance of $2.13 million as at 31 March 2017.

Uscom has been consistently investing in acquisitions and new product development, and is now poised for accelerated revenue growth.

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