Interim report January - September 2013
Continued growth of US clinical sales in the third quarter (+42%) and volume of tests (+81%).
January – September 2013
- Global Net sales decreased by 9% to SEK 100.5m (110.8)*. Adjusted for currency fluctuations, net sales decreased by 6% Year over Year (Y-o-Y).
- Net sales for clinical use of NIOX MINO increased by 6% and in the US by 46% in local currency.
- Strategic sales/shipments (sales to Pharmaceutical companies and CRO’s for clinical trials) decreased by 42% to SEK 18.9m (32.4). These sales fluctuate substantially between quarters.
- Total worldwide number of tests sold (repeat and initial) reached almost 1.5m (1.3) tests, an increase of 11% Y-o-Y and in the US for clinical use by 63%.
- Total repeat test volume for clinical use increased by 12% and in the US by 35%.
- Gross Margin 73% (72%).
- The loss after tax amounted to SEK 166.5m (138.6), corresponding to a loss per share before and after dilution of SEK 1.1 (1.1). The operating loss amounted to SEK 154.1m (133.5).
July – September 2013
- Global Net sales decreased by 11% to SEK 31.1m (34.8)*. Adjusted for currency fluctuations, net sales decreased by 10% Y-o-Y.
- Net sales for clinical use of NIOX MINO decreased by 14% partially offset by increases in the US of 42% in local currency.
- Strategic sales/shipments increased by 16% to SEK 7.1m (6.1).
- Total worldwide number of tests sold (repeat and initial) reached almost 0.5m (0.4) tests, an increase of 5% Y-o-Y and in the US for clinical use by 81%.
- Global sold repeat test volume for clinical use decreased by 6%, partially offset by increases in the US of 49%.
- Gross Margin was 74% (75%).
- The loss after tax amounted to SEK 56.5m (58.1), corresponding to a loss per share before and after dilution of SEK 0.4 (0.4). The operating loss amounted to SEK 47.9m (56.1).
- In September; the NIOX VERO®, the Company’s new, fully portable hand-held point-of-care device for the measurement of airway inflammation, in diseases such as asthma, was presented at ERS (European Respiratory Society). The NIOX VERO® was developed in collaboration with Panasonic Healthcare Co.,Ltd. (PHC)
Key events after the period
- A new randomised clinical trial shows lower incidence of asthma exacerbations and increased asthma control with Fractional exhaled Nitric Oxide (FeNO)-guided anti-inflammatory treatment. The study has been published on the website of Journal of Allergy and Clinical Immunology: In Practice.
AEROCRINE IN BRIEF
| July - September | Jan - September | Rolling-12 | Full year | |||
| SEKm | 2013 | 2012 | 2013 | 2012 | Oct - Sep | 2012 |
| Net sales | 31.1 | 34.8 | 100.5 | 110.8 | 136.7 | 147.0 |
| -of which strategic sales | 7.1 | 6.1 | 18.9 | 32.4 | 22.2 | 35.7 |
| Gross profit/loss | 22.9 | 26.0 | 73.1 | 79.8 | 99.5 | 106.2 |
| Gross margin % | 74% | 75% | 73% | 72% | 73% | 72% |
| Operating profit/loss | -47.9 | -56.1 | -154.1 | -133.5 | -217.7 | -197.1 |
| Net profit after tax | -56.5 | -58.1 | -166.5 | -138.6 | -229.5 | -201.6 |
| Cash flow, current operations | -50.8 | -53.8 | -169.0 | -135.1 | -218.2 | -184.2 |
| Total cash flow | -62.2 | -56.1 | 132.7 | 98.0 | 83.5 | 48.8 |
For further information, please contact:
Scott Myers, CEO: +46 768 788 379 or +1 970 368 0336
Michael Colérus, CFO: +46 8 629 07 85
www.aerocrine.com or www.niox.com
*Note all numbers in ( ) are the corresponding period previous year and in the same unit.
This is information that Aerocrine AB (publ) is required to publish in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. This information was submitted for publication on November 5, 2013, at 8.00 a.m.