English

Year-end report January - December 2010

Report this content

Fourth quarter 2010                                                                                   

  • Net sales increased by 17 percent to 116.1 MSEK (99.5). At comparable exchange rates sales increased by 23 percent and at comparable exchange rates excluding business acquired during the year net sales remained at the same level as last year.
  • The operating result excluding amortization of goodwill amounted to 8.6 MSEK (3.6).
  • A 15.0 MSEK (23.4) additional purchase payment was received from Qiagen for the Biosystems business area divested in 2008.
  • Goodwill has been written down with the amount of 444,5 MSEK, mainly related to the acquisitions of Personal Chemistry and Biotage, due to an assessed substantial risk for a continued weak development of pharma industry sales.
  • The result after tax excluding write-down of goodwill amounted to 19.7 MSEK (28.1).
  • Earnings per share excluding write-down of goodwill amounted to 0.25 SEK (0.32). After write-down of goodwill earnings per share amounted to -5,33 SEK (0.32).
  • Net cash at December 31, 2010 amounted to 172.7 MSEK.
  • During the quarter 107,020 own shares were purchased. At the balance sheet date December 31 Biotage owned a total of 8,848,632 shares, acquired for 64.3 MSEK, i.e. an average share price of 7.27 SEK.
  • The cash flow from operating activities amounted to 12.1 MSEK (18.4).

Full year 2010  

  • Net sales increased by 9 percent to 428.9 MSEK (394.1). At comparable exchange rates net sales increased by 16 percent and at comparable exchange rates excluding business acquired during the year net sales increased by 3 percent in the full year.
  • The operating result excluding write-down of goodwill amounted to 25.7 MSEK (-10.1).
  • The result after tax excluding write-down of goodwill amounted to 34.2 MSEK (13.5).
  • Earnings per share excluding write-down of goodwill amounted to 0.41 SEK (0.15). After write-down of goodwill earnings per share amounted to -4,91 SEK (0.15).
  • Dividends to shareholders were paid to the amount of 17.3 MSEK.
  • The cash flow from operating activities amounted to 57.6 MSEK (36.2).
  • MIP Technologies AB was acquired on April 30, 2010.
  • The product lines RapidTrace® and TurboVap® and associated assets were acquired on May 25 2010 from Caliper Life Sciences, Inc.
  • Proposed dividend: 0.25 SEK (0.20).

 

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 in this press release is of the kind that Biotage AB (publ) is required to make public according to the Financial Instruments Trading Act. The information was released for publication at 8.30 on February 10, 2011.

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 272 employees and had sales of 428.9 MSEK in 2010. Biotage is listed on the NASDAQ OMX Nordic Stockholm stock exchange. Website: www.biotage.com

Tags:

Year-End Report Biotage

Documents & Links