CellaVision AB: Interim report January - June 2012

2012-07-18 - English

Strong sales and doubled profit for the first half of 2012

January 1 - June 30, 2012

  • Net sales increased by 16 % to SEK 83.8 million (72.5)
  • The operating profit increased to SEK 9.9 million (7.1)
  • Profit before tax increased to SEK 9.4 million (4.8)
  • Earnings per share were SEK 0.24 (0.10)
  • Cash and cash equivalents increased to SEK 47.5 million (42.7) at the end of the period
  • Launch of CellaVision® DM96 Vet for veterinary medicine in North America

April 1 - June 30, 2012

  • Net sales increased by 4 % to SEK 43.4 million (41.9)
  • The operating result was SEK 4.5 million (4.7) 
  • Profit before tax was SEK 5.0 million (4.5)
  • Earnings per share were SEK 0.13 (0.09)
  • Launch of CellaVision® Image Capture System for small laboratories in networks
  • Management team reinforced with VP Sales & Business Development
  • New head of subsidiaries in North America appointed

Key ratios

(SEK million) April-June 2012 April-June 2011 Jan-June 2012 Jan-June 2011 Full year 2011
Net sales 43.4 41.9 83.8 72.5 155.4
Gross profit 28.7 25.7 55.8 46.5 101.4
Operating profit/loss 4.5 4.7 9.9 7.1 17.8
Operating margin, % 10.5 11.1 11.8 9.8 11.5
Profit/loss before tax 5.0 4.5 9.4 4.8 18.5
Total cash flow -9.0 2.5 -9.3 6.9 21.0

Comments by CellaVision's CEO Yvonne Mårtensson:

"All in all sales growth for the first six months of the year is in line with our expectations. For the third quarter in a row we have sales of more than SEK 40 million and in the six-month period CellaVision has grown 16 % and almost doubled its profit before tax.

During the period we continued to build the company and prepare for continued geographical expansion and growth. At the moment the focus is on increasing our visibility in the market through new products and support to our partners and marketing offices. This year we have strengthened the organization on several levels, from the management team and marketing offices to specialist services in marketing and support.

On the product front this year we have launched two new products that strengthen our position in hematology; a veterinary analyzer and a supplementary product for hospitals in networks. We expect the first sales to be made before the end of the year. At the AACC Annual Meeting in Los Angeles we will also give a preview of a new web-based training tool adapted to customers with many users. All three products were positively received when presented to prospective customers.

During the quarter we employed two people located in Shanghai to provide support and help our distributors' sales in China. There is a delay in reregistration of the DM96 that may affect our deliveries in the latter part of 2012. However, the delay is expected to have a marginal impact on CellaVision's total sales for 2012 and has no effect on long term."

For more information, please contact:

Yvonne Mårtensson, CEO Mobil: +46 708 33 77 82, email: yvonne.martensson@cellavision.se
Johan Wennerholm, CFO Mobil: +46 708 33 81 68, email: johan.wennerholm@cellavision.se

PDF version: CellaVision AB: Interim report January - June 2012

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