Another risky one but with a new income stream things are looking up for Sun.
Why they did not perform better last year is anyones guess.
I suppose the big boys have been let down before but this time its different .
Take a look - long term holder.....

This is good.

Trading Update

Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of creative solutions for minimally invasive surgery ('MIS'), provides the following trading update for the financial year ended 31 December 2012.

SI saw substantially improved trading across both SI Brand and OEM segments in the second half of 2012, driven by increased product demand resulting in contracted orders for delivery in 2012 of £5.6m. This represents an 85% improvement on first half performance; however due to manufacturing capacity constraints at the existing Leeds facility and a delay in US regulatory approval in the final month of the year, £1m of these orders were recognised as revenue in the first week of the financial year ending 31 December 2013.

As a consequence total revenue reported for the 12 months to 31 December 2012 is now expected to be £7.6m (FY 2011: £7.6m).

Following the strategic decision to promote SI Branded products, which now represent 68% of overall revenues (FY 2011: 62%), gross margins are expected to have improved by three basis points to 50.3% (FY 2011: 47.3%). Adjusted EBITDA for the period is ahead of the previous year at £2.85m (2011: £2.8m).

SI ended the year with short term borrowings of £1.4m against bank facilities provided by HSBC of £2.0m.

Given the revenue recognition of £1m in January 2013, the current financial year has started well and provides a sound platform for the remainder of the current financial year.

The Company will announce its preliminary results for the year ended 31 December 2012 on Tuesday, 9 April 2013.