CellaVision AB (publ) Interim report: January 1 - June 30, 2011

2011-07-15 - English

Continued sales growth in all markets

January 1 - June 30, 2011

  • Net sales rose by 26 % to SEK 72.5 million (57.8).
  • Operating profit was SEK 7.1 million (2.7).
  • Profit before tax was SEK 4.8 million (3.4)
  • Earnings per share were SEK 0.10 (0.14).
  • Cash and cash equivalents at the end of the period were SEK 42.7 million (25.1).

April 1 - June 30, 2011

  • Net sales increased by 14 % to SEK 41.9 million (36.6).
  • The operating result was SEK 4.7 million (7.1)
  • Profit before tax was SEK 4.5million (8.0).
  • Earnings per share were SEK 0.09 (0.34).

CellaVision in brief 

(SEK million)   April-June 2011 April-June 2010 Jan-June 2011 Jan-June 2010 Full year 2010
Net sales 41.9 36.6 72.5 57.8 131.6
Gross profit 25.7 26.8 46.5 40.8 87.6
Operating profit 4.7 7.1 7.1 2.7 13.9
Profit before tax 4.5 8.0 4.8 3.4 10.7
Cash flow 2.5 7.1 6.9 3.1 13.8

CellaVision's CEO comments: Continuing strong demand enables us to develop and invest for the future
"The strong drivers for increased effectiveness in our markets remain, and demand for our products continues to increase. Sales in the first six months of the year rose by 26 per cent and accordingly total sales were just over SEK 72 million, compared with SEK 58 million in the same period last year.

Our sales successes in all markets are continuing, parallel sales channels are showing a positive trend in the US, demand for our analyzer for mid-size laboratories, CellaVision DM1200, is increasing in the European market and interest in our products continues to grow in China, Hong Kong and South-East Asia.

Continuing strong demand enables us to develop and invest for the future. Our new product idea, which will give collaborating laboratories and hospital groups the possibility of using CellaVision's technology even in small laboratories, was evaluated by customers during the spring with positive results. We plan to present a final product before the end of the year.

In July our contract manufacturer will move production to another site. The situation will temporarily entail longer delivery times to customers but will most likely not mean lost orders. We expect that production will be up and running in September and thereafter improve our ability to meet expected growth. Achieving a stable rate of output, adapted to higher sales targets, is part of our long-term growth strategy."

Yvonne Mårtensson, CEO, CellaVision AB

Questions concerning the report can be addressed to:
Yvonne Mårtensson, CEO cell: +46 708 33 77 82, email: yvonne.martensson@cellavision.se
Johan Wennerholm, CFO celll: +46 708 33 81 68, email: johan.wennerholm@cellavision.se

PDF version: CellaVision AB (publ) Interim report: January 1 - June 30, 2011

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