Navamedic Financial Report Q3 2013

Navamedic ASA (OSE: NAVA), the Norwegian pharmaceutical products company, today announced its third quarter 2013 results.
Revenues for the third quarter were NOK 36.7 million, compared to NOK 20.6 million in the third quarter
EBITDA for the third quarter 2013 came in at NOK 0.8 million, compared to NOK 0.6 million last year. The Company's net result for the third quarter 2013 ended at NOK -0.9 million, compared to NOK -1.5 million last year. Navamedic's revenues for the first nine months of 2013 were NOK 108.9 million, up from 63.9 in the first nine months in 2012. This represents a sales growth of 70 per cent. The Company's gross margin ended at 32 per cent for the first nine months of 2013. Last year's gross margin was 41 per cent. Navamedic's EBITDA for the first nine months improved from NOK 1.1 million in 2012 to NOK 5.1 million in 2013, including a NOK 2.6 million payment from the earn-out agreement established when Navamedic sold its Glucomed business in 2009. The Group's net profit for the first nine months ended at NOK 0.0 million, compared to NOK -2.9 million in the corresponding period of 2012.