Interim report January – September 2010

Good underlying growth with continuing strategic investments and improved potential for growth 

 

The period in brief

  • Growth in local currency was 13 percent. Sales amounted to SEK 217 (207) million, corresponding to an increase of 4 percent in SEK.
  • Operating income before research and development costs increased by 11 percent and amounted to SEK 58 (53) million.
  • Operating income (EBIT) increased by 3 percent and amounted to SEK 25 (24) million. The operating margin was 11 (11) percent. Adjusted for one time-time expenses of SEK 2 million reagarding the acquisition of Conception Technologies (see below “After the end of the period”), the operating income increased by 10 percent and amounted to SEK 26 (24) million
  • Net income amounted to SEK 30 (23) million.
  • Dividend paid SEK 0.50 (0.40) per share.

Third quarter

  • Growth in local currency was 11 percent. Sales amounted to SEK 68 (65) million, corresponding to an increase of 4 percent in SEK.
  • Operating income before research and development costs were in principle unchanged compared to the previous year and amounted to SEK 17 (17) million.
  • Operating income (EBIT) decreased by 18 percent and amounted to SEK 6 (7) million. The operating margin was 9 (11) percent. Adjusted for one time-time expenses of SEK 1 million reagarding the acquisition of Conception Technologies (see below “After the end of the period”), the operating income remained unchanged compared to the same period last year and amounted to SEK 7 (7) million.
  • Net income amounted to SEK 11 (7) million, which gave earnings per share of SEK 0.55 (0.37).
  • The operative cash flow was SEK 7 (15) million.
  • New study shows better survival with Perfadex.
  • Launch of new generation of growth factors and cytokines for stem cell cultivation.
  • Development of new supplementary product series of laboratory accessories for fertility treatment together with HertART.

After the end of the period

  • Acquisition of products and manufacturing unit from Conception Technologies Inc, San Diego, USA. This means for Vitrolife a broadening of the fertility product line and increasing the market position above all in North America.

 

November 2, 2010

Gothenburg, Sweden

 

Magnus Nilsson

CEO

 

Queries should be addressed to:

Magnus Nilsson, CEO; phone +46 31 721 80 61

Anne-Lie Sveder, CFO, phone +46 31 721 80 13

Vitrolife is a global biotechnology/medical device Group that works with developing, manufacturing and selling advanced products and systems for the preparation, cultivation and storage of human cells, tissue and organs.  The company has business activities within three product areas: Fertility, Transplantation and Stem Cell Cultivation. The Fertility product area works with nutrient solutions (media), cryopreservation products and advanced consumable instruments such as needles and pipettes, for the treatment of human infertility. The Transplantation product area works with solutions and systems to evaluate and maintain organs outside the body in order to select usable organs and keeping them in optimal condition while waiting for transplantation. The Stem Cell Cultivation product area works with media and instruments to enable the use and handling of stem cells for therapeutic purposes.

Vitrolife today has approximately 180 employees and its products are sold in more than 85 markets. The company is headquartered in Gothenburg, Sweden, and there are subsidiaries in USA, Australia, France, Italy, United Kingdom and Japan. Production facilities are located in Sweden and the USA. The Vitrolife share is listed on NASDAQ OMX Stockholm, Small Cap.

_________________________________________________________________________________________

Vitrolife AB (publ), Box 9080, SE-400 92 Göteborg, Sweden. Corporate identity number 556354-3452.

Tel: +46 31 721 80 00. Fax: +46 31 721 80 90. E-mail: info@vitrolife.com. Website: www.vitrolife.com.

 

Vitrolife is required to publish the information in this press release in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on Tuesday 2, 2010 at 8.30 am.

 

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

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About Us

Vitrolife is an international medical device Group. The Fertility product area develops, produces and markets medical devices for assisted reproduction. Work is also carried out to enable the use and handling of stem cells for therapeutic purposes. Vitrolife has approximately 330 employees and the company’s products are sold in about 110 markets. The company is headquartered in Gothenburg, Sweden, and there are also offices in USA, Australia, France, Italy, United Kingdom, China, Japan, Hungary and Denmark. The Vitrolife share is listed on NASDAQ OMX Stockholm, Mid Cap.

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