Interim report January-March 2012

Strong sales growth in Asia and strengthened operating income

First quarter in brief

• Sales growth was 11 percent in local currency. Sales were the highest ever for a single quarter and amounted to SEK 100 (88) million, corresponding to an increase of 13 percent in SEK. Fertility sales in Asia increased by 50 percent in local currency.

• Operating income (EBIT) amounted to SEK 15 (10) million, corresponding to an increase of 49 percent. The operating margin was 15 (12) percent.

• Income before tax amounted to SEK 14 (12) million. Net income amounted to SEK 9 (9) million, which gave earnings per share of SEK 0.47 (0.45).

• The cash flow from operating activities was SEK 14 (4) million.

• The Board decided to begin preparations for a spin-off of the transplantation business. It is planned that the spin-off will take place during the second half of 2012 through distribution of the shares in the subsidiary Xvivo Perfusion AB in accordance with “Lex Asea”.

• At March 31 the required number of patients, 12, had received transplants in the STEEN Solution™ study in the USA, which aims to form the basis of the application for sales approval in the USA.

April 19, 2012
Gothenburg, Sweden
VITROLIFE AB (publ)
Thomas Axelsson
CEO

For further information, please contact:
Thomas Axelsson, CEO, phone +46 31 721 80 01
Mikael Engblom, CFO, phone +46 31 721 80 14

Vitrolife is required to publish the information in this press release in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on April 19, 2012 at 3 p.m.

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

Vitrolife is a global biotechnology/medical device Group that works in the areas of Fertility and Transplantation. The Fertility product area works with nutrient solutions (media), cryopreservation products and advanced consumable instruments such as needles and pipettes, for the treatment of human infertility. Work is also carried out to enable the use and handling of stem cells for therapeutic purposes. The Transplantation product area works with solutions and systems for assessing and preserving organs outside the body, so as to be able to select usable organs and keep them in optimal condition pending transplantation.

Vitrolife today has approximately 220 employees and its products are sold in almost 90 markets. The company is headquartered in Gothenburg, Sweden, and there are also offices in USA, Australia, France, Italy, United Kingdom, China and Japan. The Vitrolife share is listed on NASDAQ OMX Stockholm, Small Cap.

_________________________________________________________________________________________________________________

Vitrolife AB (publ), Box 9080, SE-400 92 Göteborg, Sweden. Corporate identity number 556354-3452. Tel: 46 31 721 80 00. Fax: 46 31 721 80 99. E-mail: info@vitrolife.com. Website: www.vitrolife.com/

Tags: