• Net sales for the period amounted to SEK 33.7 M (20.5) • Profit after tax totaled SEK 14.2 M (5.7) • Earnings per share after tax amounted to SEK 1.25 (0.54) • Operating profit amounted to SEK 19.7 M (7.9) • Cash flow from operating activities amounted to SEK 15.4 M (2.7) Johan Löf, President and CEO of RaySearch Laboratories AB, comments on the first six months of the year as follows:
“The strong growth rate reported for the first quarter accelerated sharply in the second quarter. We are pleased to report a twofold increase in sales and a fourfold increase in operating profit for the second quarter of the year, compared with the corresponding period in the preceding year. Sales of OM-Optimizer, which is included in Nucletron’s Oncentra MasterPlan, which began in the end of April, generated revenue only during slightly more than two of the quarter’s three months. The third quarter will be the first period to receive the full impact of sales of OM-Optimizer. Nucletron enthusiastically proclaims that OM-Optimizer is a key factor in the success of the Oncentra MasterPlan. Customers have shown considerable interest in the OM-Optimizer, particularly because the system is highly efficient, and therefore it represents a unique means of saving time at the clinics. The OM-Optimizer is the first of six products to be integrated in the Nucletron treatment planning system. The five products that remain to be introduced represent a substantial sales potential. RayMachine, which is part of the company’s cooperation with Philips, grew to 184 systems sold in the first half of the year, compared with 70 systems in the year-earlier period, while 67 systems of OM-Optimizer were sold from its introduction until June. It is encouraging to see that our intensive work on these two products has begun to bear fruit. Everything is proceeding according to plan, and we have shown that our strategy of focusing on these new products was correct. Since revenues from Nucletron are recognized in EUR, the company’s relative exposure to the USD will decline in the future. In May, the company signed a letter of intent with Philips regarding a long-term development and license agreement in adaptive radiation therapy, which will be the major development area in the future. The negotiations have been complex and I am very hopeful that we will soon be able to sign the agreement. The agreement will be an important factor for our future success in adaptive radiation therapy. Adaptive radiation therapy increases geometrical precision, by taking into account changes in the patient’s anatomy during the actual treatment, which makes the treatments even more efficient and safe. RaySearch is currently cooperating with Philips and the Princess Margaret Hospital in Toronto on Image Guided Adaptive Radiation Therapy (IGART), which will be further developed under the supervision of Dr. David Jaffray at the hospital. Our quality system received ISO certification at the end of July. This is a very important aspect of our relations and cooperation with partners old and new. The certification makes it easier to integrate our products with our partners’ systems and places us in a position to launch CE-labeled products of our own in the future. Given these excellent conditions, there is good reason for optimism about the development of RaySearch in both the long and the short term.”