CellaVision AB Interim report: January - March 2012
More than 30 percent growth and doubled profit
January 1 - March 31, 2012
- Net sales rose by 32 % to SEK 40.4 million (30.6)
- The operating result was SEK 5.4 million (2.5)
- Profit before tax was SEK 4.4 million (0.3)
- Earnings per share were SEK 0.11 (0.00)
- Cash and cash equivalents at the end of the quarter were SEK 56.5 million (40.2)
- CellaVision launched a blood analysis system for the veterinary market in North America
CellaVision in brief
| (SEK million) | Jan-March 2012 | Jan-March 2011 | Full year 2011 | |
| Net sales | 40.4 | 30.6 | 155.4 | |
| Gross profit | 27.1 | 20.8 | 101.4 | |
| Operating result | 5.4 | 2.5 | 17.8 | |
| Operating margin, % | 13.4 | 8.2 | 11.5 | |
| Profit before tax | 4.4 | 0.3 | 18.5 | |
| Cash flow | -0.3 | 4.4 | 21.0 | |
CEO Yvonne Mårtensson comments: Stronger quarter than expected
"We have a strong start to the year, with somewhat higher sales than we had foreseen. During the period cooperation with our partners in Europe and North America developed well and we see a continued strong underlying demand for our products.
During the quarter we worked further for continued international market expansion and product development. We have strengthened our presence in China by establishing a market office in Shanghai and recruiting of local employees has been started to give support to our partners. The venture will give us increased understanding of the Chinese market and increase our visibility, which creates interest for our products. China is a market with great long-term potential and demand for our products should now be able to gradually gain momentum.
In February our technology efforts resulted in the introduction of an analyzer for the veterinary market in the USA and Canada. There is interest in the product mainly among large veterinary laboratories with high test sample volumes and automation needs.
After the strong start to the year I have a positive view of CellaVision's continued development in 2012, but do not yet regard the strong growth and level of profitability as a trend for the full year."
Yvonne Mårtensson, CEO, CellaVision AB
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