UPPSALA, Sweden, July 19, 2004 (PRIMEZONE) --
-- Biacore's sales in the second quarter 2004 declined by 25% to SEK 107.3 million (142.5). Sales in Europe continued to increase at a healthy rate, but after two quarters of positive sales development in the Americas, orders from the pharmaceutical industry were again disappointing in this quarter. This coincided with continued delays in academic funding in Japan. Sales in the first half-year 2004 fell by 19% to SEK 202.6 million (249.0). Excluding the impact of exchange rates, sales fell by 10% in the first half of 2004.
-- Biacore incurred a loss of SEK 0.23 per share in the second quarter compared with earnings of SEK 2.75 per share in the corresponding period in 2003. For the first half-year 2004, earnings per share amounted to SEK 0.04 against SEK 3.52 per share in the first half-year 2003.
-- The Board of Directors of Biacore International AB and Dr. Ulf Jonsson have reached an agreement that Dr Ulf Jonsson will leave his position as President and CEO of Biacore with immediate effect. He also resigns from the Board of Directors. The Board has appointed Mr. Erik Wallden as the Company's new President and CEO. Erik Wallden was appointed Head of marketing and business development and Executive Vice President of Biacore in January 2004.
-- The outlook for the full-year 2004 is uncertain. In view of the slow-down in sales during the past six months, Biacore now expects thatsales and earnings per share for the full-year 2004 will not reach the levels achieved in 2003. Biacore's previous outlook was for sales and earnings per share to increase for the full-year 2004.
-- The Board has commissioned the President to make a thorough review of Biacore's business with a view to restoring top-line growth and profitability. The President's recommendations to the Board will be communicated on or before the announcement of Biacore's third quarterresults.
For further information, please contact: Lars-Goran Andren, Chairman Phone +41 79 544 4730 Erik Wallden, President and CEO phone +41 79 769 4542
Biacore International AB (publ) Company registration number: 556534-5211
Head office
Biacore International SA, Puits-Godet 12, CH-2000 Neuchatel, Switzerland Phone +41 32 720 9000
info@biacore.com www.biacore.com (SSE: BCOR; Reuters: BCOR.N)
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