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Interim report January - June 2010

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  • Group net sales in the second quarter amounted to 103.5 MSEK (104.4). In the period January – June, 2010 Group net sales amounted to 203.4 MSEK (204.0). At comparable exchange rates net sales increased by 5 percent in the second quarter and by 9 percent the first six months. Adjusted for the acquisitions of MIP and Caliper, net sales decreased by 4 percent in the quarter and increased by 5 percent in the first six months.
  • The operating result amounted to 7.6 MSEK (6.0) in the second quarter and to 12.3 MSEK (-15.7) in January - June. The result for the second quarter includes restructuring costs related to acquisitions amounting to 2.0 MSEK, the result for the first six months include restructuring costs amounting to 21.2 MSEK.
  • The result after tax amounted to 6.6 MSEK (5.5) in the second quarter and to 9.8 MSEK (-15.8) in the period January - June.
  • Earnings per share amounted to 0.08 SEK (0.06) in the second quarter and to 0.11 SEK (-0.18) in the first six months.
  • The cash flow from operating activities amounted to 13.8 MSEK (-3.1) in the second quarter and to 38.6 MSEK (12.9) in the period January - June.
  • Net cash at June 30, 2010 amounted to 212.2 MSEK, compared to 327.2 MSEK at December 31, 2009.
  • MIP Technologies AB was acquired on April 30. The initial purchase sum corresponds to an enterprise value of 16 MSEK. Additional payments  based on actual sales may be made until the end of 2015.
  • The product lines RapidTrace® and TurboVap® and associated assets were acquired on May 25 from Caliper Life Sciences, Inc for 16.5 MUSD (128.2 MSEK).
  • In the second quarter dividends to shareholders were paid to the amount of 17.3 MSEK (17.7).
  • During the quarter Biotage repurchased 2,471,757 own shares to a total value of 18.9 MSEK and an average share price of 7.64 SEK. The company’s possession of own shares now totals 4,441,987 shares, corresponding to 5.0 percent of the capital and votes in the company.

For further information, please contact:

Torben Jörgensen, president and CEO, phone: +46 707 49 05 84                                             
Mats-Olof Wallin, CFO, phone: +46 705 93 52 73

The information is of the kind that Biotage AB (publ) is required to make public according to the Securities Act. The information was released for publication at 8.30 am on August 13, 2010.

About Biotage

Biotage offers solutions, knowledge and experience in the areas of analytical chemistry and medicinal chemistry. The customers include the world’s largest pharmaceutical and biotech companies, and leading academic institutes. The company is headquartered in Uppsala and has subsidiaries in the US, UK and Japan. Biotage has 269 employees and had sales of 394.1 MSEK in 2009. Biotage is listed on the NASDAQ OMX Nordic Stockholm stock exchange. Website: www.biotage.com

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