C-RAD AB: Interim report 1 January-30 September 2012

Wed, Nov 28, 2012 16:20 CET

Interim report 1 January-30 September 2012

C-RAD AB (publ)

Key events during the period

Sales for the period were 14,4 SEK ( 11,2 MSEK)
EBITA of -17,6 MSEK (-17,3 MSEK)
Loss after tax of -17,9 MSEK (- 17,7 MSEK)
An order back log of 15,7 (3,5) MSEK
Bookings for the period were 18,0 MSEK ( 10,9 MSEK)
Earnings per share after tax of -1,13 SEK (- 1,44 SEK)
Equity ratio of 49 % (62 %)
Cash of 5 393 kSEK (2 361 kSEK)
Numbers of employees were 22 (21)
IBA Dosimetry has for 2012 placed a frame order of 6, 1 MSEK. Due to quality problems at suppliers deliveries have been postponed until second half of the year.
C-RAD has received FDA clearance for its new Catalyst system and Sentinel with 4DCT
Interfaces for communication with Varian accelerators have been released
The C-RAD Sentinel system is available with interfaces to three major CT vendors
An agreement has been signed with Elekta within the field of respiratory gating
A patent has in the US been approved for C-RAD inter active technology
New sales offices and subsidiaries have been founded in Berlin and Shanghai
An agreement has been signed with Erik Penser Bankaktiebolag
Accumulated orders of five Sentinel systems from Elekta in China

Key events after the close of the reporting period

Orders of eight Catalyst and two Sentinel systems from Herlev Hospital outside of Copenhagen
A letter of intent regarding the GEMini system has been signed with Dutch company Cablon Medical.
A distribution agreement has been signed with the British company Vertec Scientific Ltd
The appeal court judged in favour of C-RAD in the dispute with the German company LAP

Comments by Erik Hedlund, president of C-RAD AB.

“Bookings and sales increased with 65% and 28% respectively, compared to last year.

The C-RAD investment in a direct sales force is creating an increasing interest for the Sentinel, Catalyst and GEMini systems.

We see a strong growth in bookings, sales and cash-flow during last quarter of 2012. The positive trend is expected to continue next year”