Report on operations 2006

2007-02-08 - 12:15

• Net sales for 2006 increased by 43 percent to SEK 171.3 (120.1) million, of which SEK 41.8 (30.1) million was for the fourth quarter, corresponding to an increase of 39 percent. Adjusted for exchange rate effects, the increase for the whole year was 44 percent and for the fourth quarter 41 percent.

• Gross income amounted to SEK 116.5 (82.9) million, an increase of 41 percent, and the gross margin to 68 percent (69). Gross income for the fourth quarter increased by 38 percent to SEK 28.9 (21.0) million and the gross margin was 69 percent (70). Further gains in efficiency have been achieved during the year. It has been possible to keep the gross margin at a high and even level, despite the fact that the production of instruments, with lower margins, has been integrated during the year.

• Operating income amounted to SEK 20.0 (12.1) million, which gives an operating margin of 11.7 percent (10.0). Adjusted for items of a one-time nature, the increase was 167 percent. Costs of a one-time nature of SEK 2.1 million in income for the year are attributable to the acquisition of Swemed. Furthermore, last year’s operating income included revenues of a one-time nature of SEK 4.0 million. Operating income for the fourth quarter amounted to SEK 3.9 (2.4) million, corresponding to an operating margin of 9.3 percent (8.0).

• Comparable operating income before research and development costs amounted to SEK 45.8 (23.9) million for the whole of 2006, an increase of 92 percent. This corresponds to a margin of 26.7 percent (20.0) and operating income before R&D per share of SEK 2.31 (1.30).

• Consolidated net income was SEK 15.2 (14.9) million, of which SEK 2.1 (2.9) million was for the fourth quarter. Unrealized exchange rate effects from internal receivables affect net income for 2006 by SEK -3.1 million (3.6).

• The cash flow from operating activities increased by 69 percent and amounted to MSEK 23.8 (14.1) million, of which SEK 5.4 (3.9) million was for the fourth quarter.

• Earnings per share amounted to SEK 0.77 (0.81), of which SEK 0.11 (0.16) was for the fourth quarter.

• The equity/assets ratio amounted to 81 percent (83).


February 8, 2007
Kungsbacka, Sweden

The Board


Queries should be addressed to:
Magnus Nilsson, CEO, phone +46 31 721 80 00 or +46 708 22 80 61.
Anna Ahlberg, CFO, phone +46 31 721 80 13 or +46 708 22 80 13.