UPPSALA, Sweden, July 19, 2005 (PRIMEZONE) -- Biacore's strong sales recovery continued in the second quarter of 2005 with sales increasing by 23% to SEK 133.1 million (107.9). The strongest sales performance was again seen in Asia-Pacific where sales grew by 94% in the quarter. Encouragingly, sales in the important American market also contributed to growth with an increase of 16% in the second quarter. Total sales in the first half-year 2005 increased by 23% to SEK 249.1 million (203.3). Excluding the effect of exchange rates, total sales increased by 26%.
- Operating income for the second quarter was SEK 23.4 million (1.8). This strong increase is mainly due to higher sales. Actions following the Strategic Business Review have reduced operating expenses. However, amortization of capitalized development expenses and the fact that no such expenses were capitalized in the second quarter 2005 led to reported costs being in line with the second quarter 2004. The operating income for the first half-year 2005 amounted to SEK 37.3 million (0.4).
- Net income for the second quarter amounted to SEK 113.3 million (0.6). An internal asset transfer in conjunction with the return of the Company's Corporate Headquarters and operations to Sweden lead to tax credits of SEK 113 million with the corresponding positive effect on cash flow. Of this amount, SEK 97 million (SEK 9.91 per share) is included in net income for the second quarter 2005. Diluted earnings per share were SEK 11.61 (0.05) in the second quarter and SEK 12.85 (-0.03) in the first half-year 2005.
- Biacore's leading position in the field of protein interaction analysis has provided a strong platform for the launch of the Company's new systems, Biacore(R)T100 and FLEXChip System. Biacore(R)T100 is Biacore's most advanced mainstream system to-date, and the newly acquired FLEXChip System strengthens Biacore's offering for upstream academic exploratory research.
- Biacore maintains its previous outlook for the full-year 2005: Biacore anticipates achieving an increase in sales and returning to historic levels of profitability with variations between the quarters.
- As from January 1, 2005, Biacore uses IFRS (International Financial Reporting Standards). Prior year amounts have been restated accordingly.
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