GOTEBORG, Sweden, Feb. 12, 2002 (PRIMEZONE) -- Vitrolife: The group's total net sales was SEK 100.1 million, compared with SEK 82.2 million the year before, equivalent to an increase of 21.8%.
The group's gross profit totalled SEK 40.4 million, compared with SEK 33.5 million the year before, equivalent to an increase of 20.7%.
The group's net result totalled SEK 37.4 million, compared with SEK 28.8 million the year before.
Equity/assets ratio 73.7% (76.8%).
Vitrolife AB (publ) www.vitrolife.com
Vitrolife
Vitrolife's business mission is to develop, produce and sell advanced products and systems for the preparation, cultivation, preservation and support of cells, tissues and organs. Vitrolife expands the Company's production capacity to meet an expected increase in demand for its products, as well as strengthen its global market position as a leading company in the development of innovative cell and tissue technologies. Vitrolife believes that the number of procedures performed annually involving tissue and cell technologies will increase as new treatments are introduced and existing treatments are improved. In addition, Vitrolife expects that the regulation surrounding approval processes and quality control for its products will increase. Vitrolife aims to create competitive advantages from this regulation by meeting and exceeding expected future demands of regulatory authorities, ahead of the Company's competitors. Since it commenced its operations in 1993, Vitrolife has expanded rapidly. The Company currently has over 90 employees and sells its products in over 80 countries. During the latest five-year period, sales have increased by an average of 33 percent and totalled more than SEK 82 million for the fiscal year 2000. The Vitrolife share is listed on the Stockholm Exchange O-list under the ticker VITR.
Press release of annual accounts 2001
-- The group's total net sales was SEK 100.1 million, compared with SEK 82.2 million the year before, equivalent to an increase of 21.8%.
-- The group's gross profit totalled SEK 40.4 million, compared with SEK 33.5 million the year before, equivalent to an increase of 20.7%.
-- The group's net result totalled SEK 37.4 million, compared with SEK 28.8 million the year before.
The Vitrolife shares listed on June 26 on the Stockholm Stock Exchange's O-list in conjunction with a new share issue of SEK 160 million.
FDA clearance of the pulmonary perfusion medium Perfadex used during transplantation.
Launch of the world's first media for IVF entirely free from blood- extracted material.
Acquisition of a production plant in Kungsbacka.
Agreement with Millennium Biologix Inc. in Ontario, Canada, regarding development and testing of media for human tissue engineering.
Agreement with Cell Therapeutics Scandinavia AB in Gothenburg regarding development and testing of media for cell therapy and stem cell-based biotechnology. In conjunction with this agreement, 10.7% of the shares in the company were acquired.
Clinical trial of product for aesthetic facial surgery (so-called dermal implant) commenced in Europe.
Investment in the production and distribution plant in Denver, Colorado, USA proceeds according to plan. The reconstruction work regarding offices and distribution in the existing industrial premises was completed by the beginning of 2002. Manufacture of the high-tech modular plant for aseptic production, supplied by Pharmadule AB in Emtunga, is on schedule and is estimated to be ready by March 2002, after which it will be dismantled and transported to Denver, where the modules will be connected to the existing industrial premises. It is estimated that the plant will be approved by the American FDA (Food and Drug Administration) in the first six months of 2003.
Net loss for the year The loss for the year totalled SEK 37.4 million (SEK 28.8 million).
The full year-end report including financial tables is available at the following links:
http://www.waymaker.net/bitonline/2002/02/12/20020212BIT01070/bit0002.doc http://www.waymaker.net/bitonline/2002/02/12/20020212BIT01070/bit0002.pdf
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