CellaVision AB: Interim report January - September 2013
(Thomson Reuters ONE via COMTEX) --
Strong sales and substantial improvement in earnings in the third quarter
January 1 - September 30, 2013
- Net sales were SEK 115.0 million (119.1).
- Operating profit was SEK 9.6 million (13.9).
- Result before tax was SEK 8.4 million (12.4).
- Earnings per share were SEK 0.26 (0.40).
- Cash and cash equivalents were SEK 42.6 million (52.6) at the end of the period.
July 1 - September 30, 2013
- Net sales increased by 28 % to 45.1 million (35.3).
- Operating profit increased to SEK 10.7 million (4.0).
- Profit before tax increased to SEK 10.4 million (3.0).
- Earnings per share increased to SEK 0.33 (0.16).
Significant events during the third quarter
- The first major orders of the new DI-60 were delivered to Sysmex Europe and Japan.
Significant events after the period close
- CellaVision signs a Term Sheet with the Chinese company Mindray for distribution of CellaVision's products in above all China but also on other growth markets.
(SEK million) Jul-Sep 2013 Jul-Sep 2012 Jan-Sep 2013 Jan-Sep 2012 Full year
Net sales 45.1 35.3 115.0 119.1 169.5
Gross profit or loss 27.5 22.6 72.8 78.4 110.1
Operating profit 10.7 4.0 9.6 13.9 20.7
Operating margin. % 23.7 11.3 8.4 11.7 12.2
Profit/loss before tax 10.4 3.0 8.4 12.4 18.6
Total cash flow for the period 1.5 5.2 -3.6 -4.2 -10.6
Comments by CellaVision's CEO Yvonne Martensson:
"It is satisfying to see a strong growth in our sales for the third quarter. Sales rose by 28 % compared with the same period in 2012 and operating profit increased to SEK 10.7 million. Thus we are winning back most of the sales we lost earlier this year.
During the quarter we delivered the first major orders of the new integrated product DI-60 to Sysmex in Europe and Japan. The sale indicates a need for fully automated product lines at large laboratories and confirms our technology investments. We estimate that sales of the product will also get under way in the USA before the end of the year.
Our sales in China are driving the continued positive development in the Asia Pacific region. In accordance with our geographical expansion strategy we are currently evaluating the Chinese company Mindray as a potential distribution partner, above all in China but also on other growth markets. Our ambition is to have an agreement ready before the end of the year.
In Europe sales improved during the quarter and in the USA we assess that the downturn in demand for our products is approaching a turning point. Through our partnership initiatives and product development we will stand strong when the market turns fully. The interest in our products continues to be strong and our future growth will be driven by growing rationalization requirements in health care."
Questions concerning the report can be addressed to:
Yvonne Martensson, CEO, CellaVision AB
Tel: +46 708 33 77 82. Email: email@example.com
Magnus Blixt, CFO, CellaVision AB
Tel: +46 708 33 81 68. Email: firstname.lastname@example.org
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Source: CellaVision AB via Thomson Reuters ONE
CellaVision AB Interim report January -- September 2013 - http://hugin.info/132164/R/1737553/582715.pdf
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