Interim report January - September 2010

Interim report January - September 2010

Good underlying growth with continuing strategic investments and
improved potential for growth 

 

The period in brief

  · Growth in local currency was 13 percent. Sales amounted to SEK 217
(207) million, corresponding to an increase of 4 percent in SEK.
  · Operating income before research and development costs increased by
11 percent and amounted to SEK 58 (53) million.
  · Operating income (EBIT) increased by 3 percent and amounted to SEK
25 (24) million. The operating margin was 11 (11) percent. Adjusted for
one time-time expenses of SEK 2 million reagarding the acquisition of
Conception Technologies (see below “After the end of the period”), the
operating income increased by 10 percent and amounted to SEK 26 (24)
million
  · Net income amounted to SEK 30 (23) million.
  · Dividend paid SEK 0.50 (0.40) per share.

Third quarter

  · Growth in local currency was 11 percent. Sales amounted to SEK 68
(65) million, corresponding to an increase of 4 percent in SEK.
  · Operating income before research and development costs were in
principle unchanged compared to the previous year and amounted to SEK 17
(17) million.
  · Operating income (EBIT) decreased by 18 percent and amounted to SEK
6 (7) million. The operating margin was 9 (11) percent. Adjusted for one
time-time expenses of SEK 1 million reagarding the acquisition of
Conception Technologies (see below “After the end of the period”), the
operating income remained unchanged compared to the same period last
year and amounted to SEK 7 (7) million.
  · Net income amounted to SEK 11 (7) million, which gave earnings per
share of SEK 0.55 (0.37).
  · The operative cash flow was SEK 7 (15) million.
  · New study shows better survival with Perfadex.
  · Launch of new generation of growth factors and cytokines for stem
cell cultivation.
  · Development of new supplementary product series of laboratory
accessories for fertility treatment together with HertART.

After the end of the period

  · Acquisition of products and manufacturing unit from Conception
Technologies Inc, San Diego, USA. This means for Vitrolife a broadening
of the fertility product line and increasing the market position above
all in North America.

 

November 2, 2010

Gothenburg, Sweden

 

Magnus Nilsson

CEO

 

Queries should be addressed to:

Magnus Nilsson, CEO; phone +46 31 721 80 61

Anne-Lie Sveder, CFO, phone +46 31 721 80 13