JANUARY 1 – SEPTEMBER 30, 2008
• Net sales for the period amounted to SEK 41.3 M (50.2)
• Profit after tax was SEK 7.3 M (16.8)
• Earnings per share amounted to SEK 0.21 (0.49)
• Operating profit amounted to SEK 8.0 M (22.1)
• Cash flow from operating activities amounted to SEK 6.8 M (25.7)
• Agreement with Philips covering new product within the revolutionary VMAT treatment method reached in June
• Agreement regarding a treatment planning system for proton therapy at Uppsala University Hospital secured in August.
• Agreement covering research cooperation within multi-criteria optimization with Massachusetts General Hospital in Boston, Massachusetts, in the US signed in August.
“Sales during the third quarter declined compared with the same period in the preceding year, but we are seeing a positive trend from the second to the third quarter this year. The sales volume through Philips rebounded from the unusually low level during the second quarter, while at the same time the USD strengthened, which combined resulted in a sales increase of 14 percent from the second to the third quarter,” says Johan Löf, President of RaySearch.
“The global financial crisis is obviously a potential concern. We are monitoring market developments closely but historically the market for radiation therapy products has been relatively insensitive to economic trends. We are currently not making any changes in our business due to the uncertain market situation, but continue to focus on completing the large number of contracted products that are to be launched in the quarters ahead.”
“At the same time we are actively involved in a number of discussions about new products with new and existing partners. Therefore, despite our profitability being relatively low at the moment and the financial crisis sweeping across the globe, there are good reasons to view RaySearch’s future positively,” concludes Johan Löf.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Johan Löf, President and CEO
Tel: +46 (0)8-545 061 30
johan.lof@raysearchlabs.com
RaySearch Laboratories AB (publ)
Corp. Reg. No: 556322-6157
Sveavägen 25
SE-111 34 Stockholm
Sweden
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