STOCKHOLM, Sweden, Aug. 17, 2004 (PRIMEZONE) -- Vitrolife:
- Turnover increased by 13 percent, to SEK 55.1 million (48.8). Adjusted for currency effects the increase was 16 percent. During the second quarter sales amounted to SEK 25.6 million (22.9), corresponding to an increase of 12 percent.
- Gross profit increased by 34 percent to SEK 39.3 million (29.4) and thereby gross margin improved to 71 percent (60). Gross profit for the second quarter increased by 40 percent to SEK 18.8 million (13.4) and gross margin was 73 percent (58).
- Operating result improved and amounted to SEK 8.2 million (-6.6) for the first six months and to SEK 3.0 million (-4.5) for the second quarter.
- Net result for the Group was SEK 8.8 million (-4.3), of which SEK 2.8 million (-3.7) for the second quarter.
- Earnings per share amounted to SEK 0.48 (-0.23).
- In June Vitrolife received the approval 510(k) from the American Food and Drug Administration, FDA, for marketing of new products within Assisted Reproductive Technology (ART).
- European approval (CE mark) for a complete series of products within ART was received in June.
- The marketing organization has been substantially reinforced which makes it possible to work up more markets under Vitrolife's own management.
- After the end of the period Vitrolife's patent, regarding the use ofrecombinant albumin with or without hyaluronic acid in media for embryosand stem cells, was approved in USA.
Kungsbacka, Sweden, August 17, 2004
Magnus Nilsson CEO
Vitrolife is an international biotechnology/medical device group that develops, produces and markets advanced products and systems for the preparation, cultivation and storage of human cells, tissues and organs.
The company has operations within three product areas: Fertility, Transplantation and Cell therapy. Product area Fertility works with solutions (media) for treatment of human infertility. Product area Transplantation works with solutions and systems designed to keep organs in optimal shape during required time outside the body, when waiting for a transplant. Product area Cell therapy works with media in order to be able to use stem cells for therapeutic purposes.
Vitrolife today has over 70 employees and the company's products are sold in over 80 markets. The main office is in Kungsbacka, Sweden, with a subsidiary in Denver, USA. The Vitrolife share is listed on the O-list of the Stockholm Stock Exchange.
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