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Interim report January 1 - March 31, 2017

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RaySearch Laboratories AB (publ)

“The positive trend continued in the first quarter and net sales increased 33 percent to SEK 127 M (95), of which revenues from RayStation® rose 39 percent to SEK 112 M (81), and operating profit rose 43 percent to SEK 33 M (23). MD Anderson has become collaboration partner regarding RayCare® and the development work is progressing as planned,” says Johan Löf, President and CEO of RaySearch. 

THREE MONTHS (JANUARY-MARCH 2017) 

  • Net sales SEK 126.8 M (95.4), of which revenues from RayStation SEK 112.3 M (80.8) 
  • Profit after tax SEK 26.3 M (17.8), and earnings per share before/after dilution SEK 0.77 (0.52) 
  • Operating profit SEK 33.5 M (23.4) 
  • Cash flow negative SEK 3.0 M (neg: 5.2) 
  • Order intake excl. service agreements SEK 104.9 M (81.9), of which RayStation SEK 93.8 M (72.6) 
  • At the end of the period, order backlog for RayStation was SEK 58.1 M (47.1)

SIGNIFICANT EVENTS DURING THE FIRST QUARTER 

  • RayStation 6 was launched*, making RayStation the only treatment planning system that can create plans for Accuray’s TomoTherapyTM treatment system, in addition to conventional linear accelerators. 
  • RayStation was chosen by several leading cancer clinics, including Nottingham City Hospital in the UK, Zhuozhou in China, the Tata Memorial Centre in India, Kennestone Hospital (part of WellStar Health System) and Sharp Memorial Hospital (part of Sharp HealthCare) in the US. In addition, among others, the Maryland Proton Treatment Center, in partnership with the University of Maryland, have expanded their RayStation installations. 
  • The University Health Network (UHN) in Canada has exclusively licensed a new artificial intelligence (AI) technology for automated radiation therapy treatment planning (AutoPlanning) to RaySearch. 
  • Long-term collaborative agreement with MD Anderson related to RayCare*. 
  • RaySearch’s CEO and founder, Johan Löf was named Sweden’s foremost entrepreneur in the Swedish final of the EY Entrepreneur of the Year 2016 competition. 

* Regulatory clearance required in some markets

NO SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD 

ABOUT RAYSEARCH
RaySearch Laboratories is a medical technology company that develops advanced software solutions for improved radiation therapy of cancer. RaySearch develops and markets the RayStation treatment planning system to clinics all over the world and distributes the products through licensing agreements with leading medical technology companies. The company is also developing the next-generation oncology information system, RayCare, which comprises a new product area for RaySearch, and will be launched in 2017. RaySearch’s software is currently used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from the Karolinska Institute in Stockholm and the share has been listed on Nasdaq Stockholm since 2003. More information about RaySearch is available at www.raysearchlabs.com. 

FOR FURTHER INFORMATION, PLEASE CONTACT:
Johan Löf, President and CEO                  Tel: +46 8 510 530 00           E-mail: johan.lof@raysearchlabs.com
Peter Thysell, CFO                                    Tel: +46 70 661 05 59           E-mail: peter.thysell@raysearchlabs.com 

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