|By Business Wire||
|September 4, 2012 02:19 AM EDT||
IT and medical technology company Sectra (http://www.sectra.com/) (STO:SECTB) reports a strongly improved cash flow for the first quarter, the cash flow rose to SEK 64.0 million (neg: 2.3). Net sales totaled SEK 171.0 million (169.3) in the first quarter. Consolidated operating profit amounted to SEK 4.1 million (6.5), corresponding to an operating margin of 2.4%.
During the quarter, Sectra expanded its medical systems product offering, partly through the acquisition of Burnbank, a UK IT company, and partly through the acquisition of the product rights to a Swedish system for monitoring radiation doses. Also, Sectra has strengthened its British operations with a new team for product development in medical IT.
“We have strengthened Sectra’s position in the UK market and our UK operations now account for more than 10% of consolidated sales. The acquisition and the investment in national product development increase our ability to grow further in the UK market,” says Jan-Olof Brüer, President and CEO for Sectra AB.
The Group’s order bookings totaled SEK 116.2 million (190.8). Order bookings were lower than the year-earlier period, which included a substantial long-term agreement valued at SEK 57 million with the Norwegian healthcare region, Helse Nord.
“The financial results for the start of the fiscal year followed Sectra’s seasonal pattern and are also impacted by currency fluctuations. However, for the running 12-month period, we are reporting an operating margin of more than 12%,” 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. The information was submitted for publication on September 4, 2012 at 8:00 a.m. (CET).
About the Sectra Group
Sectra was founded in 1978 and has its roots in Linköping University in Sweden. The company’s business operation includes cutting-edge products and services within the niche segments of medical IT and secure communication. Sectra has offices in 12 countries and operates through partners worldwide. Sales in the 2011/2012 fiscal year totaled SEK 823 million. The Sectra share is quoted on the NASDAQ OMX Stockholm exchange. For more information, visit www.sectra.com.
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