DGAP-News: Third quarter profitable again for MeVis
(firmenpresse) - DGAP-News: MeVis Medical Solutions AG / Key word(s): Interim
Report/Quarter Results
Third quarter profitable again for MeVis
21.11.2011 / 07:00
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Third quarter profitable again for MeVis
Existing industrial partnerships are strengthened
- Consolidated sales amount to EUR 10.1 m after the first nine months
(previous year: EUR 10.9 million)
- Share of maintenance business rises to 40% within the Group
(previous year: 33%)
- Earnings before interest and taxes (EBIT) of EUR 0.7 m
(previous year: EUR 0.8 m)
- Liquidity increased to EUR 9.6 m (end of 2010: EUR 8.2 m)
- Strategic refocus of business activities until the end of the year
Bremen, November 21, 2011 - MeVis Medical Solutions AG [ISIN:
DE000A0LBFE4], a leading software provider for the medical imaging market,
today announced its results for the first three quarters of 2011.
New business with the products DynaCAD(R) Breast and DynaSuite Neuro
dropped, while licensing sales in the third quarter were particularly
boosted by one-off payments received on account of the sale of licenses for
the lung product Visia(TM) Lung-CT and from Siemens for the breast MRT
product syngo(TM) BREVIS.
With a high share of maintenance revenues, consolidated sales in the third
quarter amounted to EUR 3.4 m (previous year: EUR 3.6 m), slightly above
the average of the first two quarters of the current year. With EBIT of EUR
0.5 m (previous year: EUR 0.7 m) well ahead of the first two quarters of
this year, the ongoing cost reduction measures again resulted in a clearly
positive operating result for the period.
Sales in the first nine months consequently dropped by 7% to EUR 10.1 m
(previous year: EUR 10.9 m). Throughout the Group, the share of maintenance
revenue went up to 40% (previous year: 33%).
Staff costs fell again steeply by 13% to EUR 7.0 m (previous year: EUR 8.0
m) and at the same time, other operating expenses were reduced by a further
11% to EUR 2.0 m (previous year: EUR 2.2 m) within the scope of the ongoing
cost reduction measures. With depreciation and amortization being almost
constant, the 16% drop in capitalized development services to EUR 1.8 m
(previous year: EUR 2.2 m) contributed to the slight fall in earnings
before interest and taxes (EBIT) to EUR 0.7 m (previous year: EUR 0.8 m).
Correspondingly, the EBIT margin, standing at approximately 7%, remained
almost unchanged (previous year: 8%).
The financial result of EUR -0.4 m (previous year: EUR -0.2 m) was mainly
influenced by the development of the USD exchange rate. Additionally, the
pro-rata loss on our 41% equity interest in Medis Holding B.V., amounting
to EUR -0.1 m (previous year: EUR -0.1 m), also negatively impacted our
financial result.
Taking into account high income tax expenses, largely defined by deferred
tax expenditures with no impact on liquidity, MeVis recorded a loss of EUR
-0.9 m for the first three quarters of the current financial year (previous
year: EUR -0.4 m). This resulted in earnings per share of EUR -0.54
(previous year: EUR -0.20).
'As already stated in our Interim Report H1/2011, we are currently
reviewing our business strategy. In this context, we will be reassessing
our marketing policy, particularly regarding our software platform
activities, our product policy in the Other Diagnostics segment and the
question of whether we should enter the market for cardiovascularimaging
in close cooperation with our Supervisory Board by the end of this year,'
commented Dr. Carl J.G. Evertsz, CEO of MeVis Medical Solutions AG.
'Discussions with selected parties interested in making a strategic
investment have been ongoing, however we will continue to independently
refocus our own activities.'
'We are confirming our guidance for the current financial year published in
the Group management report 2010 on account of business developments so far
and expect a slight drop in consolidated sales and slightly positive
consolidated earnings before interest and taxes (EBIT),' said Dr. Robert
Hannemann, member of the Executive Board of MeVis Medical Solutions AG.
MeVis Group increased its cash and cash equivalents to EUR 9.6 m as of the
balance sheet date (December 31, 2010: EUR 8.2 m). As planned, Group
liquidity will fall again due to the payment obligations of up to EUR 3.5 m
that are due in 2011 on the strategic acquisition of the 49% interest in
MBS KG.
The financial reports of the company can be downloaded at
http://www.mevis.de/mms/Finanzberichte.html
End of Corporate News
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21.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: MeVis Medical Solutions AG
Universitätsallee 29
28359 Bremen
Germany
Phone: +49 421 224 95 0
Fax: +49 421 224 95 11
E-mail: ir(at)mevis.de
Internet: http://www.mevis.de
ISIN: DE000A0LBFE4
WKN: A0LBFE
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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147041 21.11.2011
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Datum: 21.11.2011 - 07:00 Uhr
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News-ID 89491
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