UPPSALA, Sweden, Feb. 21, 2002 (PRIMEZONE) -- Biacore (Nasdaq:BCOR):
-- Biacore's sales in the fourth quarter of 2001 increased by 6% to
SEK 175.0 million (165.3). For the full-year 2001, sales increased
by 24% to SEK 543.7 million (438.8).
-- Biacore continued its strategy of investing in developing its
successful business with the pharmaceutical and biotechnology
industries, as well as the commercialization of its unique SPR
array chip technology. As a result of these investments and a
one-off pension cost in the fourth quarter, full year earnings
per share fell by 16% to SEK 5.04 (6.02). Earnings per share in
the last quarter fell to SEK 1.68 (2.80). Excluding the one-off
cost, earnings per share amounted to SEK 6.32 for the full-year
and SEK 2.97 in the last quarter 2001.
-- Biacore(r)S51, the Company's first new high-performance system
for lead optimization and certain specific ADME applications, has
been well accepted by the market with sales made to a number of
companies including Millennium and Roche.
-- Biacore signed an important collaboration with Bruker Daltonics
Inc., which is designed to commercialize the combination of SPR
and mass spectrometry for functional proteomics applications.
-- Dr. Ulf Jonsson was appointed Chief Executive Officer of Biacore
International AB effective January 1, 2002. As of the same date,
Lars- Goran Andren, Biacore's previous Executive Chairman and
CEO, became the Company's Non-Executive Chairman.
-- Biacore is confident about its future growth prospects and
expects its sales to increase by approximately 20% in 2002, with
substantial quarterly variations. After substantial investments
during 2001, combined marketing and administration costs are
expected to increase by no more than 10% in 2002. In addition to
the Company's on-going level of R&D spending, which is targeted
at 15% of sales, Biacore plans to invest in the region of SEK 35
million in 2002 on commercializing its SPR array chip technology.
January - December October - December
2001 2000 Change 2001 2000 Change
Sales, SEK million 543.7 438.8 +24% 175.0 165.3 +6%
Operating income,
SEK million 64.1 78.0 -18% 25.7 37.6 -32%
Operating margin, % 12 18 15 23
Income after financial
items, SEK million 77.9 86.7 -10% 27.7 40.6 -32%
Diluted earnings
per share, SEK 5.04 6.02 -16% 1.68 2.80 -40%
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www.waymaker.net/bitonline/2002/02/21/20020221BIT00100/bit0002.doc The Full Year-End Report www.waymaker.net/bitonline/2002/02/21/20020221BIT00100/bit0002.pdf The Full Year-End Report