RaySearch Releases Preliminary Outcome for 3rd Quarter 2017
RaySearch Releases Preliminary Outcome for the Third Quarter 2017
RaySearch Laboratories AB (publ) releases preliminary figures for the third quarter of 2017, which appear to be weaker than expected. Net sales for the third quarter of 2017 are expected to amount to SEK 112 M (126) with operating profit of SEK 1 M (38) and cash flow of SEK -1 M (-4).
The result has been influenced by three main factors:
- Weak order intake in Europe, where several major public tenders have been delayed.
- Continued weakening of the US dollar, where the company’s revenues have decreased as a consequence of a weaker US dollar, which also caused negative translation effects for balance sheet items.
- Increased costs, where the company so far this year, as a conscious effort, has increased the number of employees in the global market organization and in research and development by about 50 percent, which has not yet generated increased order intake.
“We are in a market with uneven order flows. We feel confident about our long-term strategy, make major investments in our sales and development organizations, and drive the business operations forward with full force. " says Johan Löf, CEO of RaySearch Laboratories AB.
The above figures are preliminary and a full report for the period January to September 2017 will be released on November 22, 2017 at 07:45 CET as previously announced.
This information is information that RaySearch Laboratories AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 13.00 CET on November 1, 2017.
RaySearch Laboratories AB (publ) is a medical technology company that develops innovative software solutions for improved radiation therapy of cancer. RaySearch develops and markets the RayStation® treatment planning system to clinics all over the world and distributes the products through licensing agreements with leading medical technology companies. The company is also developing the next-generation oncology information system, RayCare®, which comprises a new product area for RaySearch, and will be launched in December 2017. RaySearch’s software is currently used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from the Karolinska Institute in Stockholm and the share has been listed on Nasdaq Stockholm since 2003.
For more information about RaySearch, visit www.raysearchlabs.com.