Record quarter and first half sales with reduced operating loss.
Financial summary January –
-- Global net sales increased by 12% to
-- Net sales for clinical use of NIOX MINO/NIOX VERO increased by 16%
despite a decrease in the US of 15% (15% in local currency) primarily
due to the refocus of the sales force and selling process.
-- Strategic sales (sales to pharmaceutical companies and CROs for
clinical trials) increased by 7%. These sales fluctuate substantially
-- Total worldwide quantity of tests sold (repeat and initial) reached almost 1.2m (1.0) tests, an increase of 17% Y-o-Y and in the US for clinical use decreased by 8%. Total repeat test volume for clinical use increased by 22% and in the US by 19%.
-- The Gross Margin for the 1H was 69% (72%). The reduction vs prior year was driven by a change in channel mix with more sales going through distributors with a lower overall margin. This strategic shift was balanced by lower operating expenses as we were able to reduce headcount in areas now serviced through distributors.
-- The loss after tax improved to
Financial summary April –
-- Global net sales increased by 19% to
-- Net sales for clinical use of NIOX MINO/NIOX VERO increased globally
by 19% reaching
-- Strategic sales increased by 34% to
-- Total worldwide quantity of tests sold (repeat and initial) reached almost 0.7m (0.5) tests, an increase of 20% Y-o-Y and in the US for clinical use decreased by 12%. Total repeat test volume for clinical use increased by 24%, and in the US by 21%.
-- Gross Margin for the quarter was 68% (70%).
-- The loss after tax amounted to
Significant events April –
AEROCRINE IN BRIEF
|April - June||Jan - June||Full year|
|-of which strategic sales||8.3||6.2||12.6||11.8||26.8||27.3|
|Gross margin %||68%||70%||69%||72%||70%||72%|
|Net profit after tax||-54.7||-55.7||-107.6||-110.0||-223.2||-225.6|
|Cash flow, current operations||-47.1||-54.2||-105,2||-118.2||-199.0||-212.1|
|Total cash flow||-47.9||260.8||-107,3||194.9||-212.5||89.7|
*Note all numbers in ( ) are the corresponding period previous year and in the same unit.
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