Fourth quarter results 2010
Financial results
Navamedic`s fourth quarter 2010 revenues ended at NOK 15.7 million compared with NOK 13.8 million in the same period of 2009. The quarter represented an all-time high in terms of sales for Vitaflo AB. Revenues for the full year came in at NOK 55.1 million compared to NOK 52.6 million in 2009.
EBITDA for the fourth quarter reached NOK -2.0 million, compared to NOK -0.3 million in the same period of 2009. The EBITDA result included non-recurring items of NOK 0.8 million. In the Generic Business Area NOK 3.0 million in business development cost and NOK 1.6 million in capitalised investments were booked.
EBITDA for the year ended at NOK -6.5 million compared to NOK -2.5 million in 2009. 2010 full year figures included non-recurring costs of NOK 1.0 million. In the Generic Business Area NOK 9.3 million in development cost and NOK 1.6 million in capitalised investments were booked.
Net cash derived from operations was NOK -5.2 million in the fourth quarter of 2010, compared to NOK -0.4 million in the fourth quarter of 2009. Net cash from operations for the full year 2010 was NOK -11.7 million against NOK 0.7 million the previous year.
Key financial indicators 2010 vs. 2009
| Group | Group | Group | |||
| (in NOK '000) | Q4 2010 | Q4 2009 | YTD 2010 | YTD 2009 | FY 2009 |
| Revenues | 15 682 | 13 804 | 55 092 | 52 593 | 52 593 |
| Gross Profit Gross margin | 6 139 39 % | 4 821 35 % | 22 104 40 % | 20 630 39 % | 20 630 39 % |
| EBITDA | -2 005 | -277 | -6 494 | -2 508 | -2 508 |
| EBIT | -5 644 | -2 018 | -15 126 | -9 995 | -9 995 |
Contact:
Bjorn Lindholt, CFO
Tel.: +47 67112542
This information is subject of the disclosure requirements acc. to §5-12
vphl(Norwegian Securities Trading Act)