StockMarketWire.com - Key hole surgery specialist Gyrus Group said first-half earnings are on track to meet forecasts and revenues are set to more than double.

Number have been lifted by the acquisition of American Cystoscope Makers Inc (ACMI) last year.

In a trading statement the medical device maker said earnings per share, excluding amortisation, integration costs and deferred tax adjustments, will be in line with consensus expectations of 7.3p per share, against 5.1p last time.

Sales in the six months ended June 30th are seen around £107m, compared to £47.3m.

Proforma organic revenue growth, which assumes a full comparative period comparative for the ACMI business which was acquired on July 21st last year, is expected to be marginally over 10%.

The original Gyrus businesses grew revenue by approximately 17%.

A good performances from its proprietary divisions in the US and the partnered technologies division were partly offset by a weaker performance in international markets, where the integration of distributors caused a shortfall in revenues.

Gyrus, which has traditionally made tools for on laparoscopic and endoscopic surgical procedures, is trialling a move into more general surgery. It recently introduced new technology to test the water, which it said today have been well received.

The new PlasmaCision-derived products have already achieved more than 1 mln usd in revenues.

Meanwhile, the urology & gynaecology division had a slower first half when compared to a strong 2005 result pre-acquisition, but new products show significant potential for the second half of 2006, Gyrus said.

The integration of ACMI continues on track, it added.

'The first half of 2006 has been a successful period of change; we have made significant inroads into the integration programme and have started to re-orientate the legacy ACMI business towards our disposable devices business model,' chairman Brian Steer said in a statement.

'In addition, we look forward to a number of potentially significant new product launches in the second half of 2006.'