ARTIMPLANT INTERIM REPORT JANUARY

ARTIMPLANT INTERIM REPORT JANUARY - JUNE 2010

Press Release

Västra Frölunda, Sweden, August 3, 2010

 

  · Net revenue for the second quarter amounted to SEK 5.1 million (7.9)
and for the first six months SEK 9.8 million (12.8).*
  · The net loss for the second quarter totaled SEK 5.0 million (4.1)
and for the first six months SEK 9.8 million (8.6).  
  · Earnings per share for the second quarter amounted to SEK -0.08
(-0.07) and for the first six months SEK -0.16 (-0.14).
  · Artimplant's own sales continued to increase and were equivalent to
62% (27) of product sales for the second quarter and 57% (26) for the
first six months.
  · Artimplant's own sales in the USA have tripled compared with the
second quarter and the first six months of 2009.
  · Sales of Artelon® Spacer for the second quarter totaled SEK 2.2
million (4.7) and for the first six months SEK 4.8 million (8.2). Sales
of Artelon® Spacer via the Company's licensee fell to a significantly
lower level than during the corresponding period in 2009.
  · Sales of Artelon® Tissue Reinforcement for the second quarter
amounted to SEK 2.4 million (3.1) and for the first six months SEK 4.5
million (4.4). During the first six months no sales took place to Biomet
Sports Medicine, which sold from its existing inventory.

 Events after the period-end

  · The Board of Directors has decided to focus Artimplant's strategy
more firmly on marketing with increased intensity in own sales in the
USA, which will give rise to a further need for capital.
  · The Board of Directors has decided to implement a significant
reduction in costs not related directly to marketing and sales in
Artimplant AB.
  · The Board of Directors has decided to implement a rights issue,
which is expected to generate capital input for the Company of SEK 40
million. The issue is subject to approval at an extraordinary meeting of
the stockholders. It is the ambition of the Board of Directors that the
majority of the issue will be secured through declarations of intent and
guarantee undertakings.
  · Subscription commitments and guarantee undertakings from the Board
of Directors and senior management total just over SEK 5 million.
  · The Company has revised its cash flow target and the aim now is that
a positive cash flow before changes in working capital will be achieved
on a monthly basis during the second half of 2011 (previously the target
was "by the end of 2010").

 

N. B. This is a translation from Swedish. The Swedish version shall
always take precedence.

Artimplant will hold a telephone conference by reason of this report on
August 3, 2010 at 3 pm (CET). For further information see
www.artimplant.com.

* Figures in brackets refer to the corresponding period last year

For further information, please contact: Hans Rosén, CEO, phone 46
(0)31-746 56 00, 46 (0)708 58 34 70,
hans.rosen@artimplant.com (hans.rosen@artimplant.com)

Lars-Johan Cederbrant, CFO, phone 46 (0)31-746 56 54, 46 (0)703 01 68
54,
lars-johan.cederbrant@artimplant.com (lars-johan.cederbrant@artimplant.c
om)

Further information is available at
www.artimplant.com (http://www.artimplant.com). To subscribe to future
press releases please go to
www.artimplant.com/investors-media/subscribe-to-press-releases.html (htt
p://www.artimplant.com/investors-media/subscribe-to-press-releases.html)
ARTIMPLANT INTERIM REPORT JANUARY - JUNE 2010

Attachments
