“A strong fourth quarter ended a new record year. In 2016, net sales rose 34 percent to SEK 531 M (398), of which revenues from RayStation® rose 58 percent to SEK 476 M (300), and operating profit rose 109 percent to SEK 200 M (95). The development of RayCare®* is continuing as planned,” says Johan Löf, President and CEO of RaySearch.
FOURTH QUARTER (OCTOBER-DECEMBER, 2016)
- Net sales SEK 191.4 M (132.0), of which revenues from RayStation SEK 174.8 M (109.4)
- Profit after tax SEK 75.9 M (33.3), and earnings per share before/after dilution SEK 2.21 (0.97)
- Operating profit SEK 100.2 M (44.3)
- Cash flow SEK 56.6 M (12.4)
- Order intake excl. service agreements SEK 189.0 M (117.9), of which RayStation SEK 176.3 M (102.9)
- Order backlog for RayStation was SEK 67.5 M (49.1) at the end of the period
TWELVE MONTHS (JANUARY-DECEMBER, 2016)
- Net sales SEK 531.5 M (397.6), of which revenues from RayStation SEK 476.0 M (300.4)
- Profit after tax SEK 151.4 M (70.2), and earnings per share before/after dilution SEK 4.42 (2.05)
- Operating profit SEK 200.0 M (95.3)
- Cash flow SEK 26.2 M (3.6)
- Order intake excl. service agreements SEK 501.1 M (385.2), of which RayStation SEK 461.0 M (316.9)
- The Board of Directors proposes that no dividend be paid for 2016
SIGNIFICANT EVENTS DURING THE FOURTH QUARTER
- RaySearch secured several major orders, including Chang Gung Memorial Hospital (Kaohsiung) in Taiwan and the University of Washington Medical Center, University of Wisconsin-Madison and University of Arizona Radiation Oncology (Tucson) in the US.
- Erik Hedlund resigned from his position as Chairman of the Board and left the Board on November 17, 2016. Carl Filip Bergendal was elected new Chairman until the Annual General Meeting on May 23, 2017.
- In December, 1,567,089 Class A shares were converted to Class B shares at the request of shareholders.
SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD
- RayStation 6 was launched* and is the only treatment planning system that can create plans for both conventional linear accelerators and Accuray’s TomoTherapyTM treatment system.
- University Health Network (UHN) in Canada exclusively licensed a new artificial intelligence (AI) technology for automated radiation therapy treatment planning (AutoPlanning) to RaySearch.
- RaySearch’s CEO and founder, Johan Löf was named Sweden’s foremost entrepreneur in the national final of the EY Entrepreneur of the Year competition.
ABOUT RAYSEARCH
RaySearch Laboratories is a medical technology company that develops advanced software solutions for improved radiation therapy of cancer. RaySearch develops and markets the RayStation treatment planning system to clinics all over the world and distributes the products through licensing agreements with leading medical technology companies. The company is also developing the next-generation oncology information system, RayCare, which comprises a new product area for RaySearch, and will be launched in 2017. RaySearch’s software is currently used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from the Karolinska Institute in Stockholm and the share has been listed on Nasdaq Stockholm since November 2003. More information about RaySearch is available at www.raysearchlabs.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Johan Löf, President and CEO
Tel: +46 8 510 530 00
Email: johan.lof@raysearchlabs.com
Peter Thysell, CFO
Tel: +46 70 661 05 59
Email: peter.thysell@raysearchlabs.com
The information contained in the interim report is such that RaySearch Laboratories AB (publ) is obliged to disclose under the EU’s Market Abuse Regulation and the Securities Market Act. The information was submitted for publication on February 17, 2017 at 7:45 a.m. CET.
*Regulatory approval is required in some markets.