DGAP-News: MeVis Medical Solutions AG / Key word(s): Interim
Report/Quarter Results
MeVis Medical Solutions AG: Positive start to 2012 for MeVis
30.05.2012 / 07:30
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Stable sales, improved earnings situation and increased liquidity
- Stable consolidated sales of EUR 3.6 million (previous year: EUR 3.7
million) after the first three months
- Maintenance business contribution steady at 42 %
- Earnings before interest and taxes (EBIT) up to EUR 0.6 million
(previous year: EUR 0.5 million)
- Liquidity risen to EUR 7.7 million (December 31, 2011: EUR 7.5 million)
- Strategic reorientation will be communicated by mid-year
Bremen, May 30, 2012 - Today, MeVis Medical Solutions AG [ISIN:
DE000A0LBFE4], a leading software provider for the medical imaging market,
announced its results for the first quarter of 2012.
Sales came to EUR 3,637 k, only slightly down on the first quarter of 2011
(EUR 3,718 k). License sales declined only marginally by 4 % to EUR 2,011 k
(previous year: EUR 2,086 k). The maintenance business dropped slightly by
2 %, from EUR 1,545 k in the extraordinarily successful first quarter of
2011 to EUR 1,513 k, but rose by 9 % compared to last year's quarterly
average.
Sales in Digital Mammography went down by 8 % compared to an unusually
strong prior year quarter (EUR 2,876 k) to EUR 2,650 k. Sales in Other
Diagnostics developed positively, rising by 17 % to EUR 987 k (previous
year: EUR 842 k).
Capitalized development costs fell by 12 % year-on-year to EUR 691 k
(previous year: EUR 782 k), mainly due to a reduced number of employees but
also as a result of the Company's discontinuing to capitalize development
projects written down at the end of 2011.
Personnel expenses dropped considerably by 8 % year-on-year to EUR 2,298 k
(previous year: EUR 2,510 k) despite a provision for obligations to the
former Executive Board member Thomas E. Tynes being recognized. Other
operating expenses also decreased by a further 17 % to EUR 606 k (previous
year: EUR 727 k) as a result of continuing cost savings measures.
Depreciation and amortization came to EUR 878 k (3 % down year-on-year),
resulting in earnings before interest and taxes (EBIT) of EUR 622 k,
clearly up by 22 % on the prior-year figure of EUR 509 k, as a result of
the continuing cost savings measures. The EBIT margin consequently was
slightly up year-on-year to 17 % (previous year: 14 %).
The net financial result of EUR -90 k also increased significantly from EUR
-286 k in the prior-year quarter, one of the contributing factors being
earnings developments at the Dutch investment Medis.
Pre-tax earnings rose correspondingly to EUR 532 k in the period under
review (previous year: EUR 223 k). Taking into account income tax expenses
of EUR 424 k, a figure on par with the previous year and still primarily
originating from non-cash deferred taxes, MeVis closed the first quarter of
the current fiscal year with consolidated net profit of EUR 108 k (previous
year: EUR -190 k). Earnings per share therefore amounted to EUR 0.06
(previous year: EUR -0.11).
Cash and cash equivalents went up slightly again in the period under review
from EUR 7,506 k as of December 31, 2011 to EUR 7,749 k as of March 31,
2012.
'We confirm our 2012 forecast, which expected Group sales to stabilize at
the same level as in the 2011 fiscal year and EBIT to increase slightly due
to an improved cost situation following the positive first quarter of
2012.' commented Dr. Robert Hannemann, CFO of MeVis Medical Solutions AG.
'We also anticipate positive liquidity from operating activities again in
2012, whereby a purchase price payment of EUR 3.0 million as part of the
acquisition of the 49% stake in MBS KG will be due for the last time this
year, which will have a corresponding impact on liquidity.'
'We have started refocusing our business activities and will conclude our
evaluation of MeVis' strategic orientation in the coming weeks,' added
Marcus Kirchhoff, CEO of MeVis Medical Solutions AG. 'As part of these
refocusing measures, we already decided to discontinue our US subsidiary
and to gradually transfer its functions to Bremen in the coming weeks and
months. We plan to completely close the company by the end of the year at
the latest. MeVis' future strategic orientation will be presented at the
annual general meeting on June 12.'
The financial reports of the company can be downloaded at
http://www.mevis.de/mms/Finanzberichte.html.
End of Corporate News
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30.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: MeVis Medical Solutions AG
Universitätsallee 29
28359 Bremen
Germany
Phone: +49 421 224 95 0
Fax: +49 421 224 95 11
E-mail: ir@mevis.de
Internet: http://www.mevis.de
ISIN: DE000A0LBFE4
WKN: A0LBFE
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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171909 30.05.2012
DGAP-News: MeVis Medical Solutions AG: Positive start to 2012 for MeVis
| Source: EQS Group AG