Horizon Discovery Group plc provided earnings guidance for the year ended December 31, 2016. The company announced a trading update ahead of its full year results for the twelve months ended 31 December 2016. In line with guidance, the group is expected to report fiscal year 2016 revenues of at least £24.0 million, representing growth of no less than 19% (fiscal year 2015: £20.2 million), with gross margin increasing to the mid-50% range (fiscal year 15: 49%) driven by product sales volumes ahead of expectations and at reduced cost of goods sold. The group expects to report a full year loss after taxation in line with expectations (fiscal year 15: £10.5 million loss), having substantially completed the measures necessary to reduce the cost base by over £5.0 million in fiscal year 2017 as part of the group's stated path to profit strategy. The group has a robust working capital position with cash headroom of £11.0 million, represented by year end cash of £6.0 million and an undrawn debt facility of £5.0 million, supported by a strong short-term accounts receivable profile following a record final quarter sales performance. Based on a strong order book with forward visibility already on more than 50% of expected fiscal year 2017 consensus revenue, the group is confident it will deliver fiscal year 2017 revenues in the range of £30 million to £35 million and reconfirms its strategy to deliver positive EBITDA in fiscal year 2017.