Boule Diagnostics AB (publ) interim report January-June 2016

Record sales and increased profit

Quarter April-June 2016

•  Net sales amounted to SEK 102.0 million (78.9), up 29.3 percent.
•  Cash flow from operating activities amounted to SEK   -1.1 million (0.2).
•  Operating profit was SEK 12.6 million (3.2).
•  Net profit amounted to SEK 9.0 million (2.4).
•  Earnings per share before dilution amounted to SEK 1.91 (0.51), and after dilution to SEK 1.89 (0.51).

Interim period January-June 2016

•  Net sales amounted to SEK 186.4 million (154.2), up 20.9 percent.
•  Cash flow from operating activities amounted to SEK   5.0 million (-0.6).
•  Operating profit was SEK 21.0 million (12.1).
•  Net profit amounted to SEK 15.2 million (9.0).
•  Earnings per share before dilution amounted to SEK 3.24 (1.91), and after dilution to SEK 3.20 (1.90).

Significant events during the quarter

Tender won in India

In early May, Boule won a tender for 136 Medonic systems in the state of Uttar Pradesh in North India, in partnership with its Indian distributor. The instruments are being installed in 136 hospitals around the state starting in quarter two, 2016.

New tender won i Mexico

In mid-June, Boule and its Mexican distributor were awarded a significant share of several public procurement contracts in Mexico. Altogether, these winning tenders are for 329 hematology systems. Delivery of the instruments began in late quarter two and early quarter three, 2016

Comments from CEO Ernst Westman

Second quarter sales reached an all-time high, and for the first time ever exceeded 100 MSEK in a single quarter. Sales of 102 MSEK meant a 29 percent increase compared with quarter two, 2015.

In total, Boule sales increased by 14 percent over the last twelve-month period compared to the corresponding period the year before. Sales growth was especially strong in Latin America and Asia that rose 67 and 38 percent, respectively. We see continued challenges to instrument sales on certain markets but our business model and geographic coverage shield us from more significant negative effects even if individual markets experience poorer growth for a period.

I am naturally very satisfied with the growth in sales in the quarter and first half year, but above all, I am delighted that our long-term efforts to increase profitability are continuing to deliver results. Profitability has also improved with the new generation of higher priced instruments that account for an increasing share of instrument sales.

The fact that sales of our new generations of instruments are now starting to take off, plus our clinical chemistry partnership agreement on the US market, enables us to view the future with plenty of confidence.

For more information, please contact:
Ernst Westman, President and CEO, Boule Diagnostics AB, tel +46 708-60 88 63

About Boule Diagnostics AB (publ)

Boule Diagnostics AB is a rapidly growing diagnostics company that develops, manufactures and markets systems and consumables for hematology diagnostics. The company is primarily oriented to small and medium sized hospitals, clinics and laboratories and to diagnostics companies within both human and veterinary hematology. The company operates via subsidiary companies in Sweden, USA and China. Boule Diagnostics shares have been listed on the Nasdaq Stockholm Exchange since 2011. www.boule.se

The information in this interim report is such that Boule Diagnostics AB (publ) is obligated to publish under the Swedish Securities Market Act. The information was submitted for publication in Swedish on August 1, 2016 at 12:00 am (CET).