Copenhagen, 2015-05-07 07:42 CEST (GLOBE NEWSWIRE) -- Exiqon A/S today announced results for the first three months of 2015:
| Summarized results (DKK million) | Q1 2015 | Q1 2014 | Change |
| Total revenue | 39.0 | 32.5 | +20% |
| Gross profit | 25.9 | 22.0 | +18% |
| EBITDA | 2.7 | 1.6 | +63% |
| EBIT | 0.9 | 0.5 | +101% |
| Net profit | 0.0 | 0.8 | N/A |
| Cash flows from operating activities | 1.2 | -2.3 | N/A |
Revenue highlights
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RNA research services and product sales (excluding OEM) are key drivers for Exiqon’s growth; and sales increased 24% to DKK 31.0 million (DKK 24.9 million) in the first quarter:
- RNA services sales increased 70% to DKK 6.6 million (DKK 3.8 million) and initially drives Exiqon’s strategy towards becoming the leading provider of flexible solutions for RNA analysis, offering high growth potential and paving the way for new proprietary products.
- Product sales increased 16% to a record DKK 24.4 million (DKK 21.0 million) as Exiqon continues to leverage existing capabilities to capture new markets for RNA sequencing and RNA functional analysis with significant growth potential.
- Other income, including license and contract research income, increased 16% to DKK 4.4 million (DKK 3.8 million) in the first quarter, reflective of a continued interest for Exiqon’s proprietary technologies, and the ongoing development of novel diagnostics within prostate and colorectal cancer with long-term potential of transforming current healthcare practices and improve patient care.
Operational highlights
- On 31 March 2015 Exiqon launched Next Generation Sequencing services for microRNAs present in blood serum and plasma, marking the latest addition to a growing portfolio of RNA sequencing analysis services with high growth potential.
- In July, 2015 Exiqon plans to launch a new cloud to provide leading flexible solutions for RNA analysis to customers in an easy-to-order process by integrating the company’s proprietary bioinformatics tools and customizable LNA™ enhanced products for RNA analysis.
In a comment CEO Lars Kongsbak said: “A great quarter for Exiqon. We delivered on key financial objectives. First quarter results are a function of the successful repositioning of our business to capture new markets, targeting double digit growth in our products and services sales”.
Exiqon reiterates its full year guidance of revenues between DKK 150-160 million and EBITDA of DKK 5-10 million based on an average USD/DKK exchange rate of DKK 6.50.
