Vitrolife fourth quarter sales increase 18% to SEK 95 million

Published on February 7, 2012 at 4:55 AM · No Comments

Vitrolife AB (publ) (STO:VITR):

Fourth quarter

-- Sales increased by 19 percent in local currency. Sales were the highest ever for a single quarter and amounted to SEK 95 (81) million, corresponding to an increase of 18 percent in SEK.

-- Operating income (EBIT) amounted to SEK 4 (9) million. The operating margin was 4 (11) percent. One-time expenses of SEK 7 million are included and consist of remuneration to the former CEO, write-down for a development project and disposal of production equipment. EBIT excluding one-time expenses amounted to SEK 11 million, corresponding to an operating margin of 11 percent.

-- Income before tax amounted to SEK 4 (11) million. Net income amounted to SEK 2 (-1) million, which gave earnings per share of SEK 0.11 (-0.04).

-- The cash flow from operating activities was SEK 10 (21) million.

-- Magnus Nilsson handed over responsibility for the Group in order to be able to completely focus on Vitrolife's transplantation area, Xvivo, which will be a more independent unit within Vitrolife. Thomas Axelsson was appointed Acting CEO.

Whole year

-- Sales increased by 27 percent in local currency. Sales amounted to SEK 365 (298) million, corresponding to an increase of 20 percent in SEK.

-- Operating income (EBIT) increased by 24 percent and amounted to SEK 41 (33) million. The operating margin was 11 (11) percent. One time expenses of SEK 7 million are included and consist of remuneration to the former CEO, write-down for a development project and disposal of production equipment. EBIT excluding one-time expenses amounted to SEK 48 million, corresponding to an operating margin of 13 percent.

-- Income before tax increased by 9 percent to SEK 45 (41) million. Net income amounted to SEK 31 (29) million.

-- Vitrolife was the first company to obtain regulatory approval in China for a whole series of cultivation media for IVF.

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