Ossur First Quarter Report for 2007

 | Source: Ossur Hf Ossur Hf

First Quarter 2007 Financial Highlights
 
  •           Sales USD 80.4 million, up by 34% from Q1 2006
  •           Organic sales growth 4%
  •           Pro forma sales growth 7%
  •           EBITDA USD 10.2 million, up by 19% from Q1 2006
  •           EBITDA margin 12.7%, declining from 14.3% in Q1 2006
  •           Net loss USD 2.7 million compared to a net profit of USD 0.6 million in Q1 2006
    •  
     
     
    Jon Sigurdsson, President & CEO, comments:
    "A major sales force restructuring program was initiated at Ossur Americas in February. The program will take us through the final steps of fully integrating the bracing and support companies we have acquired in North America into one consolidated Ossur. This has caused a short term set-back in growth and operating performance in the Americas but will return significant improvements in the medium to long term. The months ahead will be challenging but we look forward to harvesting the benefits of our efforts. In Europe, we are seeing a gradual improvement. Results in the UK and Germany are particularly satisfying."
     
     
    The press release including tables, the Investor Presentation Q1 2007 and the Financial Statement Q1 2007 can be downloaded from the following links:

    Attachments

    Ossur hf. Financial statement 1.1 -31.3.2007 Ossur press release Q1 2007 Ossur Q1 2007 - Investor Presentation
    GlobeNewswire