C-RAD AB: Interim report 1 January-31March 2012

24 May, 2012 09:00 CET

C-Rad AB
Interim information

C-RAD AB: Interim report 1 January-31March 2012

Key events during first quarter

  -- Sales for the period were 2,5 MSEK ( 5,7 MSEK)
  -- EBITA of -6,6 MSEK (-3,2 MSEK)
  -- Loss after tax of -7,2 MSEK (-5,2 MSEK)
  -- Order back log of 19,2 MSEK (9,6 MSEK)
  -- Bookings of 9,7 MSEK ( 5,8 MSEK) 
  -- Earnings per share after tax of -2,68 SEK (- 0,80 SEK)
  -- Equity ratio of 61 % (72 %)
  -- Cash of 15,8 MSEK (11,8 MSEK)
  -- Numbers of employees were 20 (20)
  -- IBA Dosimetry has for 2012 placed a frame order of 6,1 MSEK to C-RAD
     Imaging AB for deliveries of diod detectors for use in dosimetry
  -- Elekta in China has placed two orders of Sentinel systems
  -- A new cooperation agreement has been signed with Uppsala Academic Hospital
  -- C-RAD has received FDA clearance for its new Catalyst system
  -- Interfaces for communication with Varian accelerators have been released
  -- The C-RAD Sentinel system is available with interfaces to three major CT
     vendors



Key events after the close of the reporting period

  -- An order of two Catalyst systems to the radiation therapy centre in
     Sundsvall, Sweden
  -- C-RAD has started a sales company in Germany
  -- A great interest for the C-RAD product program at the ESTRO meeting in
     Barcelona





Comments by Erik Hedlund, president of C-RAD AB.

“Beginning of the year C-RAD announced FDA clearance for its new Catalyst
system and at the same time that interfaces to Varian accelerators had been
validated and released. The Sentinel system is now available with interfaces to
three of the main vendors of CT systems. FDA clearance and approved interfaces
is a condition for C-RAD in order to develop its position in advanced radiation
therapy. 

Bookings are normally slow beginning of the year. We are happy to announce a
number of important orders. 

Due to delay of installations invoicing has been low. It is usually a delay of
up to 12 months between booking and invoicing. As a consequence the order back
log has increased to 19,2, MSEK. The main part will be invoiced in 2012. 

C-RAD is working on a large number of projects, which in short term will be
realized. 

We are positive about the growth of bookings and invoicing in 2012.”