Sectra’s year-end report 2009/2010: Sectra’s operating profit continues to increase
The IT and medical-technology company Sectra’s operating profit for the 2009/2010 fiscal year increased 59.8% to SEK 34.2 million (21.4), corresponding to an operating margin of 4.0% (2.5). Consolidated net sales amounted to SEK 848.4 million (863.3) and order bookings to SEK 861.3 million (1,149.7).
“Despite several of our principal markets being impacted by the effects of financial crisis and the national economic crises prevailing in several European countries, we have developed our business and strengthened our operating profit,” comments Jan-Olof Brüer, President and CEO of Sectra AB. “A significant portion of our sales derives from license revenues, service, support, upgrades, extension and expansion of our undertakings for existing customers. This is a strength in times such as these.”
Net financial items amounted to an expense of SEK 10.7 million (income: 50.0) and were adversely affected by currency effects totaling an expense of SEK 9.3 million (income: 41.7). Profit after net financial items amounted to SEK 23.5 million (71.4). The profit margin was 2.8% (8.3).
“Similar to many other international companies, we have been strongly affected by exchange-rate fluctuations in recent years,” comments Jan-Olof Brüer.
For the fourth quarter, Sectra’s consolidated net sales amounted to SEK 255.4 million (263.7). Operating profit increased 80.4% to SEK 20.2 million (11.2), corresponding to an operating margin of 7.9% (4.3). Profit after net financial items amounted to SEK 16.6 million (7.4), corresponding to a profit margin of 6.5% (2.8). The Group’s order bookings amounted to SEK 191.8 million (207.7).
In the fourth quarter, Sectra’s orders included one received from the Swedish Defense Materiel Administration (FMV) for the development of a new high-speed crypto for encryption of information in networks used by Swedish authorities and defense forces.
“The new high-speed crypto enables the protection of large flows of information and the order is of major strategic value for our future,” says Jan-Olof Brüer.
“Our focus for fiscal year 2010/2011 is to continue increasing the sales volumes for our products for secure telephony and low-dose mammography, and long-term business development in Sectra’s single largest product area, medical IT, based on what provides most value for our customers,” says Jan-Olof Brüer.
The information in this press release is such that Sectra AB (publ) is obligated to disclose in compliance with the Swedish Securities and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was submitted for publication on May 25, 2010 at 08:30 a.m. (CET).
Contact information
For further information, please contact: Dr. Jan-Olof Brüer, CEO and President Sectra AB, tel +46 13 23 52 09
About the Sectra Group
Sectra was founded in 1978 and conducts successful development and sales of high-technology products in the expansive niche segments of medical systems and secure communication systems. Sectra has offices in 12 countries and sells its products through partners worldwide. The head office is in Linköping, Sweden and the company developed from research at Linköping University. Sales for the 2009/2010 full year amounted to SEK 848 million. Sectra is listed on the NASDAQ OMX Stockholm AB exchange. For more information about Sectra, visit our website at www.sectra.se.