INTERIM REPORT JANUARY - SEPTEMBER 2004
INTERIM REPORT JANUARY - SEPTEMBER 2004 · Sales increased by 10 percent, to SEK 79.3 (72.3) million. Adjusted for exchange-rate effects the increase was 13 percent. During the third quarter sales amounted to SEK 24.1 (23.5) million, corresponding to an increase of 3 percent. · Gross income increased by 24 percent to SEK 56.9 (46.0) million and thereby the gross margin improved to 72 percent (64). Gross income for the third quarter increased by 6 percent to SEK 17.6 (16.6) million and the gross margin was 73 (71) percent. · Operating income amounted to SEK 11.5 (38.8) million for the first nine months and to SEK 3.3 (45.5) million for the third quarter. For comparable business activities operating income for the third quarter of 2003 amounted to SEK 3.1 million (adjusted for a capital gain of SEK 42.3 million and other items attributable to divested business, SEK 0.1 million). · Net income for the Group was SEK 11.9 (39.6) million, of which SEK 3.1 million (43.9, excluding divested business 1.6) was for the third quarter. · Earnings per share amounted to SEK 0.65 (2.16, excluding divested business 0.10). · Focus and investments during the period have concentrated on building Vitrolife's future platform for growth: - The marketing organization has been substantially reinforced, which makes it possible to work up more markets under Vitrolife's own management. - The new factory in Denver, USA, has been successfully validated and production for sales has begun. - A research agreement has been signed with Dr. Peter Svalander, the founder and former CEO of the company, regarding product development within the area of fertility. - Expansion of the office and storage space at the facility in Kungsbacka has begun. · Vitrolife's patent regarding the use of recombinant albumin with or without hyaluronic acid in media for embryos and stem cells has been approved in USA. Kungsbacka, Sweden, October 28, 2004 Magnus Nilsson CEO Queries should be addressed to: Magnus Nilsson, CEO, phone +46(0)31 721 80 00 or +46(0)708 22 80 61. Anna Ahlberg, CFO and responsible for IR, phone +46(0)31 721 80 13 or +46(0)708 22 80 13. Vitrolife is a global biotechnology/medical device Group that works with developing, manufacturing and selling advanced products and systems for the preparation, cultivation and storage of human cells, tissue and organs. The company has business activities within three product areas: Fertility, Transplantation and Cell therapy. The Fertility product area works with nutrient solutions (media) for the treatment of human infertility. The Transplantation product area works with solutions and systems to maintain organs in optimal condition outside the body for the required time while waiting for transplantation. The Cell therapy product area works with media to enable the use of stem cells for therapeutic purposes. Vitrolife today has over 70 employees and the company's products are sold in more than 80 markets. The head office is in Kungsbacka, Sweden, and there is a subsidiary in Denver, USA. The Vitrolife share is listed on the O-list of the Stockholm Stock Exchange. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/10/28/20041028BIT21150/wkr0001.pdf
