CELLAVISION AB (publ) Interim report for the period January 1 - September 30, 2010
Sales increased by 29 % during the period
January - September
- Net sales for period increased by 29 % to SEK 89.8 million (69.7).
- The Group's operating result for the period was SEK 4.9 million (7.3).
- The result after tax was SEK 1.2 million (6.8).
- Earnings per share for the period were SEK 0,05 (0.28).
- Cash and cash equivalents amounted to SEK 30.8 million (11.9) at the close of the period.
July - September
- In the third quarter sales increased by 19 % to SEK 32.0 million (27.0).
- The operating result for the third quarter was SEK 2.2 million (5.5).
- The result after tax was SEK -2.1 million (5.4).
- Earnings per share for the third quarter were SEK -0.09 (0.22).
| CellaVision in brief | ||||||
| (SEK million) | Jul-Sep 2010 | Jul-Sep 2009 | Jan-Sep 2010 | Jan-Sep 2009 | Full year 2009 | |
| Net sales | 32.0 | 27.0 | 89.8 | 69.7 | 109.0 | |
| Gross profit | 17.9 | 20.1 | 58.7 | 51.0 | 76.5 | |
| Operating result | 2.2 | 5.5 | 4.9 | 7.3 | 14.8 | |
| Result before tax | -2.1 | 5.4 | 1.2 | 6.8 | 14.2 | |
| Cash flow | 5.7 | 2.6 | 8.8 | -7.7 | 2.3 | |
CEO's comments: Demand greater than ever
Demand for our products is greater than ever. Consequently our great challenge now is to adapt production and organization to the strong growth in demand. In the third quarter we have had a shortage of a small number of components and production disruptions for our DM1200 analyzer. Ongoing measures are intended to prevent sales being affected.
Now as we pass the year's three-quarter mark we can report a sales increase of 29 % to SEK 90 million, which exceeds our long-term growth target of 15 % over an economic cycle. Our American distributors' initiatives in the US are now apparent in the sales figures and in the third quarter the North American share of sales was as much as 51 %. We are also now starting to see good sales results from our distributors in Asia, mainly in Japan and China.
CellaVision is growing with profitability but fluctuations in the dollar impacted our earnings in the quarter. At the same time as we see strong upturn in sales, the general economic recovery in the US is still weak and the dollar has fallen sharply in value during the period. The growing demand for our products has also meant that since last spring we have invested in our own organization with six new employees in product and technology development.
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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