Another year of profit and strong growth
January - December
- Net sales rose by 21 % to SEK 131.6 million (109.0)
- Operating profit for the year was SEK 13.9 million (14.8)
- Profit after tax was SEK 38.3 million (27.7)
- Earnings per share for the year were SEK 1.61 (1.16)
- Cash and cash equivalents amounted to SEK 35.8 million (22.0) at year end
- New distribution strategy contributed to the year's sales successes
- Heavy demand for new analyzer CellaVision® DM1200 promoted sales in Europe
October - December
- Net sales increased by 7 % to SEK 41.9 million (39.3)
- Operating profit was SEK 9.1 million (7.5)
- Profit after tax was SEK 37.1 million (20.9)
- Earnings per share for the fourth quarter were SEK 1.56 (0.88)
Significant events after year-end
- CellaVision reinforced its management team with Stefan Bengtsson as Chief Operating Officer
| CellaVision in short | |||||
| (SEK million) | Q4 2010 | Q4 2009 | Full year 2010 | Full year 2009 | |
| Net sales | 41.9 | 39.3 | 131.6 | 109.0 | |
| Gross profit | 28.9 | 25.5 | 87.6 | 76.5 | |
| Operating profit | 9.1 | 7.5 | 13.9 | 14.8 | |
| Profit before tax | 9.5 | 7.4 | 10.7 | 14.2 | |
| Cash flow | 5.1 | 10.0 | 13.8 | 2.3 | |
CEO's comments: Year of profit and investments for continued sales growth
"I am pleased to report that we have again succeeded in combining strong growth with a positive result for the full year," says Yvonne Mårtensson", CEO of CellaVision. "Demand for our products continued to be strong all year, including the fourth quarter, when sales reached the same high level as last year, despite the slow economy in our largest market, North America. Sales increased in total during the year by 21 % to almost SEK 132 million. Sales in countries outside Europe and North America tripled and now account for 10 % of total sales.
In 2010 we worked hard on implementing our three strategic choices for continued high growth. These are; a more comprehensive distribution strategy, a broader product range and moving the share listing to the NASDAQ OMX Small Cap list. Through these measures we can continue to grow geographically and at the same time increase the volumes in our main markets of Europe, North America and Japan. Moving the share listing will strengthen our financial freedom of action.
The challenge of adapting our production to growing demand continues. The third-quarter disruption in production of the DM1200 continued in the fourth quarter and will also impact our output capacity in the first half of 2011. This brings a general increase in costs of components, which affects the gross margin. The focus is now on measures to reinforce product supply. The growing demand for our products also means that since last spring we have invested in the organization. All in all, this means that I look forward to developments in 2011 with confidence."
For further information, please contact:
Yvonne Mårtensson, CEO. Phone: +46 708 33 77 82, email: yvonne.martensson@cellavision.se
Johan Wennerholm, CFO. Phone: +46 708 33 81 68, email: johan.wennerholm@cellavision.se
