ClearStar, Inc. provided an update on trading for the six months ended June 30, 2015, ahead of announcing its interim results in September 2015. Consequently, the Company expects revenue for the first half of 2015 to be approximately $7.5 million, representing a 43% increase over the equivalent period in 2014. Additionally during first half 2015, the company experienced gross margin improvement primarily due to economies of scale along with a favourable shift in the product mix with an increased contribution of revenues from higher margin direct sales.

The Company therefore anticipates the gross margin percentage for first half of 2015 being higher by more than 200 basis points compared with the same period of the previous year, and expects this trend to continue due to both the revenue mix and purchasing economies. The increase in revenue was due to strong sales growth across all three of the Company's divisions. EBITDA for the first half 2015 is expected to be a loss of approximately $1.3 million.

Due to the increased investment referred to above it is expected that the Company's full year results will be below market expectations with EBITDA around breakeven for the second half of 2015. The Board believes that the continued investment into the business will see increased sales and higher margins in the medium term and beyond.