biolitec AG
biolitec AG:biolitec AG increased consolidated revenue in the second quarter of the
biolitec AG / Key word(s): Half Year Results/Half Year Results 28.02.2011 19:30 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- biolitec AG increased consolidated revenue in the second quarter of the fiscal year 2010/2011 by 15% to EUR 16.6 million - Gross profit rose by EUR 2 million to EUR 12 million Jena, Germany, February 28th, 2011 - biolitec AG, Jena, listed in the Prime Standard of the Frankfurt stock exchange (ISIN DE0005213409), achieved a consolidated revenue of EUR 16.6 million in the first half of the fiscal year 2010/2011. Thereby, the revenue was significantly above the previous second quarter. The revenue growth of 15% is attributable to economic recovery of the core markets and the growing demand for biolitec's mainstays of sales, the LIFE(TM) laser treatment of benign prostate hyperplasia (BPH) and the endoluminal laser treatment of veins (ELVeS(TM)). The gross profit amounted to EUR 12 million (previous year: EUR 10 million) and EBIT amounted to EUR 1.17 million (previous year: EUR 0.63 million). R&D expenditures for the second quarter of the fiscal year 2010/2011 of EUR 1.39 million (about 9% of sales) compared to the previous year (EUR 1.47 million) decreased marginally. Sales costs also remained relatively constant to EUR 4.9 million compared to EUR 4.5 million in last year's period. The earnings per share amounted to EUR 0.11. Although increasing administrative expenses of EUR 4.6 million a consolidated net income to EUR 0.88 million was generated. The inventories as well as lease obligations and credits were further reduced during the reporting period. biolitec AG's major revenues were generated in Europe and North America. With EUR 6.66 million, sales in North America were with 10% clearly up on previous year's level. European sales amounted to EUR 7.28 million (previous year: EUR 6.8 million), in Asia and ROW. Here, biolitec was able to increase revenues by 67% to EUR 2.67 million. The foreign subsidiaries, particularly in the Arab world and Asia increasingly contribute to the overall results. Medium-term objective is to increase the share of these markets on biolitec's revenues to a third and thereby build the foundation for further on the new world market situation adapted growth. The pharma segment posted a turnover of EUR 0.6 million at the end of the second quarter. The biolitec AG expects, that the pharma-marketing partners (e.g. Bracco for Italy or Gedeon Richter for Eastern Europe) as well as the amount of reimbursement in the Netherlands and Italy will have a significant impact on revenues in the future. biolitec expects further sales growth for the current fiscal year and counts on the cost-cutting and efficiency enhancement measure already initiated to maintain its profitability. The main sales growth should arise from equipment and disposables (catheter, laser fiber) for the BPH treatment LIFE(TM) as well as for the ELVeS(TM) vein treatment method. In addition, revenue is expected to increase due to new applications in aesthetics, especially for laser body forming, and due to the new hemorrhoid treatment. 28.02.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: biolitec AG Otto-Schott-Str.15 07745 Jena Deutschland Phone: +49 (0) 3641 519 53 0 Fax: +49 (0) 3641 519 53 33 E-mail: info@biolitec.de Internet: www.biolitec.de ISIN: DE0005213409 WKN: 521340 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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