LINKOPING, Sweden, May 22, 2003 (PRIMEZONE) -- Sectra's earnings for the 2002/2003 fiscal year were the best to date. Profit before taxes rose 28.8% to SEK 79.1 M (61.4), corresponding to a profit margin of 15.7%. Earnings per share amounted to SEK 1.77 (1.23). Sales were also the highest in the history of the company, increasing 19.5% to SEK 503.4 M (426.3), compared with the year-earlier period. Order bookings were up 6.5% to SEK 489.8 M (459.7).
"Our operations in medical systems and secure communications systems have continued to expand and we have strengthened our leading position in Scandinavia," says Jan-Olof Bruer, CEO of Sectra AB. "Our international drive has resulted in increased sales in markets outside Sweden and the proportion of international sales has increased from 43% to 58%."
Focusing on Western Europe and North America, Sectra entered into several new strategic cooperation agreements during the year. These cooperations complement existing partners for digital radiology systems and allow the company to reach a broader market. To support sales through partners, Sectra opened offices in the UK and Australia. The company now has offices in eight countries.
"Our strategy is to expand our international operations gradually," continues Jan-Olof Bruer. "Through cooperation with global and local partners, Sectra has laid the foundation for continued international expansion."
During the fourth quarter, Sectra signed a five-year agreement with the private healthcare provider Capio Diagnostik AB for the digitization of radiology operations at Sweden's largest private emergency hospital, St. Gorans Hospital in Stockholm. Combined with the order from Medicinsk Rontgen AB earlier in the fiscal year, this represents a major breakthrough into the private radiology sector - a market of major international importance.
Through its cooperation with Kongsberg Defence Communications of Norway, Sectra has delivered eavesdrop-secure telephones during the year to customers that included NATO's central organization and the Dutch and Czech Defenses.
"Our operations in secure communications systems have expanded considerably," says Jan-Olof Bruer. "This is largely the result of the successful sales of Sectra's eavesdrop-secure telephones to the NATO market.
"Sectra has a strong technological platform. Our solutions are targeted at growth markets and Sectra's strong position in our home market provides us with a solid foundation for continued international expansion. Accordingly, it is our assessment that Sectra will continue to expand with favorable profitability," concludes Jan-Olof Bruer.
Sectra AB (publ) year-end report fiscal year 2002/2003
Year in brief (May 2001 - April 2002 in parentheses)
-- Order bookings increased 6,5% to SEK 489.8 M (459.7).
-- Sales rose 19.5% to SEK 503.4 M (426.3).
-- Profit before tax rose to SEK 79.1 M (61.4), corresponding
to a profit margin of 15.7%.
-- Earnings per share amounted to SEK 1.77 (1.23).
Fourth quarter in brief (February 2002- April 2002 in parentheses)
-- Order bookings increased 133,3% to SEK 113.4 M (48.6).
-- Sales amounted to SEK 133.8 M (139.8).
-- Profit before tax rose to SEK 28.1 M (22.2), corresponding to a
profit margin of 21.0 %.
-- Earnings per share amounted to SEK 0.71 (0.38).
Significant events during the fourth quarter
-- Private health-care provider Capio Diagnostik signed a five-year
agreement with Sectra for digital radiology at Sweden's largest
private emergency hospital, St. Gorans Hospital in Stockholm.
-- Ribe County Council in Denmark ordered Sectra's radiology IT system
for the four radiology departments in the county.
-- As part of Sectra's increased drive in the North American market,
cooperation was initiated with Eclipsys Corporation and RIS Logic.
-- Sectra also entered into cooperation with InSight Oceania Pty Ltd,
an Australian supplier of medical equipment, to meet the increasing
demand for digital image management systems in the Australian and New
Zealand markets.
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