Exiqon A/S (NASDAQ OMX: EXQ), a leading supplier of high-value gene expression analysis products, today announced that short-term supply chain problems with a supplier will cause a delay in order shipping for the remainder of December 2013 and affect the company’s full year results.
Total revenue is now expected around DKK 125-128 million (previously around DKK 130 million) and EBITDA is expected to be negative around DKK -5 million compared to the previously positive EBITDA expectation. Cash flow from operating activities is expected to be moderately negative.
In a comment, CEO Lars Kongsbak said: “We have identified the problem at hand together with the supplier and expect a solution to be in place within 10 days. However, at this time of year we cannot resolve the issues in time to process all affected orders before yearend. We have seen a very positive development in revenue growth throughout the year and expect operations to be back on track before yearend so that we may continue our positive development in to 2014.”
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)
Forward-looking statements
Certain parts of this release contain forward-looking information with respect to the plans, projections and future performance of the company, each of which involves significant uncertainties. The company’s actual results may differ materially from the information set forth in these statements. This is an English translation of the interim report prepared in Danish. In case of any discrepancies between the Danish version and this English translation thereof, the Danish version shall prevail.
