UPPSALA, Sweden, Oct. 20, 2005 (PRIMEZONE) --
-- Biacore continued its recovery in the key American market with sales increasing by 21%. However, this was offset by lower sales in Europe (-14%) and Asia-Pacific (-27%). Total sales in the third quarter of 2005 amounted to SEK 126.2 million (134.1), a decline by 6%. During he first nine months 2005, sales increased by 11% to SEK 375.3 million (337.4) compared with the same period in 2004. Excluding the effect of exchange rates, total sales increased by 13%.
-- Operating income for the third quarter was SEK 23.6 million (-18.7). This strong increase is mainly due to the absence of non-recurring items in 2005 and cost reductions. In the third quarter result for 2004, Biacore recorded costs of SEK 58 million to cover a write-down in the value of the array technology and changes in key management. The operating income for the first nine months 2005 amounted to SEK 60.9 million (-18.3).
-- Net income for the third quarter amounted to SEK 16.5 million (-24.5). Net income for the first nine months of 2005 was SEK 141.8 million (-24.9). This amount includes a one-off tax credit, booked in the second quarter, of SEK 97 million (SEK 9.91 per share) resulting from an internal asset transfer in conjunction with the move of the Company's Corporate Headquarters and operations to Sweden. Diluted earnings per share were SEK 1.69 (-2.53) in the third quarter and SEK 14.54 ( 2.56) in the first nine months 2005.
-- Biacore continues to build its position in the rapidly developing protein array market. In September, the Company launched a major marketing drive behind its two new array products, Biacore(R)A100 and Flexchip System, at a number of major life science conferences in both the United States and Europe. The third quarter saw the first industrial sale of Biacore(R)A100 to one of the world's leading pharmaceutical companies.
-- 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.
For further information, please contact:
Erik Wallden, President and CEO Phone +46 (0)702 252 270 Lars-Olov Forslund, CFO, Phone +46 (0)702 252 727 Jan Isoz, Investor Relations, Phone +46 (0)708 10 31 17
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