STOCKHOLM, Sweden, October 22, 2002 (PRIMEZONE) -- Vitrolife:
- Net sales increased by 24% and amounted to 85,5 MSEK (69,1 MSEK).
- Gross profit increased by 96% and amounted to 44,7 MSEK (22,8 MSEK).
- Operating result was improved and amounted to -12,2 MSEK (-36,2 MSEK).
- Vitrolife divested its sales rights of its hyaluron-based, Ophthalin(TM) and Fermathron(TM) products including the manufacturing plant in Edinburgh, Scotland.
- Vitrolife received FDA marketing approval of new cell culture media for in-vitro fertilization (GIII-series - Closer to Nature) containing recombinant albumin and hyaluronan.
Please go to the link for the interim report in Swedish with financial data in English (pdf format)
For information, please contact:
Vitrolife: President and CEO Dr. Peter Svalander, tel +1 303 762 1933; CFO Stefan Jacobsson, tel +46 708 22 80 10, 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 intends to further expand 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 86 employees and sells its products in over 80 countries. During the latest five-year period, sales have steadily increased by and totalled more than SEK 100 million for the fiscal year 2001.
The Vitrolife share is listed on the Stockholm Exchange (Stockholmsborsen) O-list under the ticker VITR.
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The following files are available for download:
http://www.waymaker.net/bitonline/2002/10/22/20021022BIT01260/wkr0001.doc
http://www.waymaker.net/bitonline/2002/10/22/20021022BIT01260/wkr0002.pdf The full report