CELLAVISION AB (publ) - Interim report for the period January 1 - March 31, 2010

2010-04-23 - English

New distribution strategy provides enhanced growth opportunities

  • Net sales amounted to SEK 21.1 million (22.0).
  • The operating result was SEK -4.4 million (0.9).
  • The result per share amounted to SEK -0.20 (0.02).
  • Cash and cash equivalents amounted to SEK 18.0 million (14.5) by the end of the quarter.
  • CellaVision expanded its distribution network by entering a distribution agreement with Beckman Coulter, and by extending its cooperation with Sysmex.
  • The Board of Directors of CellaVision plans to apply for a listing on NASDAQ OMX Small Cap during the first half of 2010.

CellaVision in short 

  (MSEK)

 
  Q1
2010
Q1
2009
Full Year 2009
  Net sales 21,1 22,0 109,0
  Gross profit 14,0 14,1 76,5
  Operating result -4,4 0,9 14,8
  Result before tax -4,7 0,5 14,2
  Cash flow -4,0 -5,2 2,3


CEO Comment
"We opened the year by introducing our new distribution strategy, which marks a substantial shift in the distribution of our products. CellaVision signed a distribution agreement with Beckman Coulter that came into effect on January 1, while also concluding negotiations concerning an extended distribution agreement with Sysmex. Both of these important agreements will be key in a new phase of expansion - with two of the world's largest hematology companies, CellaVision will be able to reach an even wider segment of the market. In 2010 we will be focusing on increasing sales on our main markets in Europe, North America, and Japan", says Yvonne Mårtensson, CEO of CellaVision.

"During the first quarter CellaVision allocated large resources to education and support. We have managed to maintain a consistent level of expenses and gross margin, however sales were somewhat slower compared to the same period the previous year, as a consequense of the change in distribution strategy. Development projects went on with intensity during the quarter but with no capitalized costs. This makes a difference of 4.8 MSEK on the result compared to last year.

"We will continue working on listing the CellaVision share on NASDAQ OMX Stockholm, Small Cap, and aim to complete the process by the end of the half-year. The listing will make CellaVision an even more attractive partner and investment opportunity."


For more information please contact:
Yvonne Mårtensson, CEO. Phone: +46 708 33 77 82, e-mail: yvonne.martensson@cellavision.com
Johan Wennerholm, CFO. Phone: +46 708 33 81 68, e-mail: johan.wennerholm@cellavision.com


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PDF version: CellaVision AB - Interim report for the period January 1 - March 31, 2010

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