biolitec AG revenue increases to Euro 28.05 million in the first nine months 07/08
EBIT amounts to Euro 3.2 million
(lifePR) (Jena, )biolitec AG, Jena, listed in the Prime Standard of the Frankfurt stock exchange (ISIN DE0005213409) increased consolidated revenues by 6% to Euro 28.05 million during the first nine months ending March 31, 2008 (previous year: Euro 26.4 million). The gross profit amounted to Euro 19.4 million (last fiscal year: Euro 18.3 million) and EBIT amounted to Euro 3.2 million.
Net income amounted to Euro 2.3 million (previous year: Euro 3.2 million) due to the significant investment in marketing and sales for the in office BPH treatment "LIFE(TM) " and the improved vein treatment procedure "ELVeS(TM) PainLess".
Third quarter revenues were lower (Euro 8.9 million compared to Euro 9.4 million) than in the previous year, due to the unfavourable investment climate in the USA, its impact on the investment cycle and the unfavourable dollar exchange rate. The company expects this negative effect to continue in the coming months and expects fiscal year sales and profit to fall short of last year's level.
Laser sales for the first nine months grew by 10% due to the demand for the company's BPH Evolve laser. Nine months fiber optic(disposables) sales increased by 3% in total. biolitec's major revenues were again generated in Europe and North America. With Euro 13.1 million, sales in North America exceeded previous year's nine months sales by 6 %, accounting for 47% of total sales.European sales amounted to Euro 12.8 million (March 31, 2007: Euro 12.6 million).
With Euro 4.7 million (17% of sales) in the first nine months of the business year, R&D expenditures remain at a high level, ensuring the group's long term growth and profitability.biolitec AG expects dynamic sales growth to resume in the coming fiscal year.