First Quarter 2008 Highlights
- Sales USD 89.8 million
- Organic sales growth 12%
- EBITDA USD 23 million, up by 124% from Q1 2007
- EBITDA adjusted USD 17.4 million, up by 51% from Q1 2007
- Net profit USD 6.7 million, compared to a net loss of USD 2.7 million in Q1 2007
- Cash EPS diluted 2.98 US cents, up by 231% from Q1 2007
- EPS diluted 1.58 US cents, compared to -0.70 in Q1 2007
Jon Sigurdsson, President & CEO, comments:
"We are pleased with the results of the first quarter of the year. Traditional Europe and Asia are showing excellent growth both in prosthetics and bracing and supports. Prosthetics sales continue to exceed market growth, confirming Ossur's strength in this market segment. Sales of bracing and support products in the US are still challenging. However, the Company's management is confident that a turnaround is on the horizon. Some of the main focus areas in 2008 are profitability and exploiting cross selling opportunities as well as product rationalization. Important projects supporting this have already been initiated."
Live comments form the CEO, see link here below:
www.ossur.com/ceocomments
www.ossur.com/ceocomments
The press release including tables, the Market Presentation Q1 2008 and the Financial Statement Q1 2008 can be downloaded from the following links:
