Copenhagen, 2015-08-25 16:04 CEST (GLOBE NEWSWIRE) -- Exiqon A/S (NASDAQ OMX Copenhagen: “EXQ”) today announced results for the second quarter and first six months of 2015:
|
Financial Highlights (DKK million) |
Q2 2015 |
Q2 2014 |
Q2 change |
H1 2015 |
H1 2014 |
H1 change |
| Revenue | 38.0 | 30.7 | 24% | 77.0 | 63.2 | 22% |
| Gross profit | 24.8 | 20.2 | 23% | 50.8 | 42.3 | 20% |
| EBITDA | 2.6 | 0.1 | 4019% | 5.2 | 1.7 | 206% |
| EBIT | 0.8 | -1.5 | N/A | 1.8 | -1.1 | N/A |
| Net profit | 0.0 | -1.2 | N/A | 0.0 | -0.5 | N/A |
| Cash flows from operating activities | 3.4 | 1.3 | 156% | 4.7 | -1.0 | N/A |
Summarized financial numbers are compared to full year outlook on p.3.
Revenue highlights
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Exiqon successfully continues to execute its growth strategy towards becoming the leading provider of flexible solutions for RNA analysis by leveraging existing capabilities and capture new markets. RNA services and product sales (excluding OEM) are the key drivers for Exiqon’s growth. In the second quarter sales increased 24% to DKK 30.7 million (DKK 24.9 million):
- Services offer the highest short-term potential for growth besides paving the way for development of new proprietary products and so initially drive Exiqon’s growth. In the second quarter services increased 59% to DKK 5.9 million (DKK 3.7 million).
- Product sales offer high potential for growth in the mid-term growth as Exiqon increasingly targets new sizable markets for RNA sequencing and RNA functional analysis. In the second quarter sales increased 17% to DKK 24.8 million (DKK 21.1 million).
- Other income include license income and grant funding of Exiqon’s development of novel diagnostics within prostate and colorectal cancer that hold promise of transforming current healthcare practices and improve patient care. In the second quarter of 2015 other income decreased 13% to DKK 3.1 million (DKK 3.5 million).
Operational highlights
- In the second quarter Exiqon continued to expand its product offering and target new market opportunities: On 26 May, 2015 Exiqon launched new Antisense LNA™ GapmeRs for RNA functional analysis and on 30 June, 2015 Exiqon launched a new qPCR portfolio for real-time PCR analysis of mRNAs and long non-codingRNAs.
- On 30 June, 2015 Exiqon launched its innovative XploreRNA™ cloud-computing environment, leveraging existing bioinformatics capabilities, and bringing together for the first time applications for RNAseq data analysis with custom assay design in one integrated work-flow supported by a full-fledged e-commerce system.
In a comment CEO Lars Kongsbak said: “Another great quarter for Exiqon. We continue to deliver high growth, increased innovation and profitability. We are excited about our new cloud initiative that propels Exiqon to the forefront of providers of flexible solutions for RNA analysis.”
Exiqon raises its full year guidance to revenues of DKK 155-160 million (previously DKK 150-160 million) and EBITDA around DKK 10 million (previously DKK 5-10 million) based on an average USD/DKK exchange rate of DKK 6.50.
Additional information
Lars Kongsbak, CEO, phone +45 4566 0888 (cell: +45 4090 2101)
Hans Henrik Chrois Christensen, CFO, phone +45 4566 0888 (cell: +45 4090 2131)
