RaySearch Laboratories AB (publ) Interim Report January 1 - September 30, 2008 JANUARY 1 - SEPTEMBER 30, 2008 • Net sales for the period amounted to SEK 41.3 M (50.2) • Profit after tax was SEK 7.3 M (16.8) • Earnings per share amounted to SEK 0.21 (0.49) • Operating profit amounted to SEK 8.0 M (22.1) • Cash flow from operating activities amounted to SEK 6.8 M (25.7) • Agreement with Philips covering new product within the revolutionary VMAT treatment method reached in June • Agreement regarding a treatment planning system for proton therapy at Uppsala University Hospital secured in August. • Agreement covering research cooperation within multi-criteria optimization with Massachusetts General Hospital in Boston, Massachusetts, in the US signed in August. “Sales during the third quarter declined compared with the same period in the preceding year, but we are seeing a positive trend from the second to the third quarter this year. The sales volume through Philips rebounded from the unusually low level during the second quarter, while at the same time the USD strengthened, which combined resulted in a sales increase of 14 percent from the second to the third quarter,” says Johan Löf, President of RaySearch. “The global financial crisis is obviously a potential concern. We are monitoring market developments closely but historically the market for radiation therapy products has been relatively insensitive to economic trends. We are currently not making any changes in our business due to the uncertain market situation, but continue to focus on completing the large number of contracted products that are to be launched in the quarters ahead.” “At the same time we are actively involved in a number of discussions about new products with new and existing partners. Therefore, despite our profitability being relatively low at the moment and the financial crisis sweeping across the globe, there are good reasons to view RaySearch's future positively,” concludes Johan Löf. FOR FURTHER INFORMATION, PLEASE CONTACT: Johan Löf, President and CEO Tel: +46 (0)8-545 061 30 johan.lof@raysearchlabs.com RaySearch Laboratories AB (publ) Corp. Reg. No: 556322-6157 Sveavägen 25 SE-111 34 Stockholm Sweden ABOUT RAYSEARCH RaySearch Laboratories is a medical technology company that develops advanced software solutions for improved radiation therapy of cancer. RaySearch's products are sold through license agreements with leading partners such as Philips, Varian, Nucletron, IBA Dosimetry and TomoTherapy. Eight products have been released to date and RaySearch's software is used at over 1,300 clinics in more than 30 countries. In addition, existing license agreements cover more than 15 other products that are scheduled to be launched in the coming years. RaySearch was founded in 2000 as a spin-off from Karolinska Institutet in Stockholm and the company is listed in the SmallCap segment on the OMX Nordic Exchange Stockholm. For more information about RaySearch, visit www.raysearchlabs.com.
RaySearch Laboratories AB (publ) Interim Report January 1 - September 30, 2008
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