London-based medical software developer Clinical Computing Plc’s maiden full-year results show a collapse in sales and a descent into the red. The company which floated last year and was valued at ú20m, reported a drop of 44.3% in turnover to ú1.47m from the ú2.64m achieved in its final year as a private concern, when turnover had actually grown by 30.7%. News of the results yesterday morning precipitated a 20 pence drop in share price on the already sickly figure of 55 pence, but the price rallied later in the day to 41 pence. Clinical Computing’s share price has been as high as 186p and it floated at 124p. The company blamed longer than expected order processes, and business re-engineering and management changes for diverting energy away from the daily management. The pre-tax loss for the year was ú689,000, against a profit last time of ú1.3m. The company develops software under the title Proton, to manage patient data in 20 different clinical disciplines, including dialysis, transplants and intensive care units. It runs under VMS on the VAX, on NetWare networks, and there is also a stand-alone MS-DOS version.
