Net sales during the first quarter amounted to 18.6 million US dollars.
Operating profit amounted to more than 1.5 million US dollars.
Net profit for the first quarter amounted to over 1 million US dollars.
The interim Consolidated Financial Statements for the first quarter of 2002 of Össur was approved at meeting of the Board of Directors on 29 April. The reporting currency of the consolidation has been changed from Icelandic krona to US dollars from January 1st. 2002, the reason being that the US dollar is the functional currency of the Össur consolidation. Comparative figures from prior periods have been converted from Icelandic krona into US dollars. Operating items are converted according to the average exchange rate of the first quarter of 2001, but the balance sheet items at the end of year 2001 have been converted according to the year-end exchange rate. General price level adjustments in the financial reporting of the Icelandic companies pertaining to the Consolidation have also been cancelled from the beginning of 2002. The interim Financial Statements have been reviewed and endorsed by the auditors of the company.
The principal companies of the Ossur Consolidation are Ossur hf. in Iceland, the Ossur Holdings, Inc. Consolidation in USA, the Ossur Holding A.B. Consolidation in Sweden and Össur Europe B.V. in Holland.
For further information, please view the Press Release or first quarters Consolidated Financial Statement.