Exiqon A/S
INTERIM REPORT FOR THE PERIOD 1 JANUARY – 30 June 2014 (UNAUDITED)

DGAP-News: Exiqon A/S

14.08.2014 / 17:18

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Second quarter highlight: Continued profitability measured on EBITDA driven by
improved margins. 

Copenhagen, 2014-08-14 17:18 CEST (GLOBE NEWSWIRE) -- Exiqon A/S (NASDAQ OMX Copenhagen: 'EXQ') today
announced results for the six months of 2014: 

In summary (DKK
million)   Q2 2014          Q2 2013          H1 2014          H1 2013         
Outlook 2014 

Revenue                                    30.7  
             33.3                63.2                65.1                     
~135 

Gross profit                               20.2  
             21.1                42.3                39.5 

EBITDA                                      0.1  
              0.5                  1.7                 -1.6                    
     ~5 

EBIT                                         -1.5
                -0.7                -1.1                  -4.1 

Net profit                                   -1.2
               -1.3                 -0.5                  -5.7 

Cash flows from

operating activities                     1.3     
           -0.2                 -1.0                  -3.4 

EPS                                      -0.03   
           -0.03                -0.01                -0.16 



Financial highlights

Revenue decreased 3% to DKK 63.2 million
(DKK 65.1 million) and was affected negatively by a decrease in OEM sales to
Exiqon's licensing partners of 29% to DKK 4.9 million (DKK 6.9
million).
Research product sales
and services (excluding OEM sales) decreased 1% to DKK 49.8 million (DKK 50.5
million) due to unfavorable impact of foreign currency exchange rates (DKK 1
million). 
Gross profit increased
7% to DKK 42.3 million (DKK 39.5 million) due to improved
margins.
Total operating expenses
of DKK 43.3 million were at the same level as last year (DKK 43.5
million).
EBITDA improved 208% to
DKK 1.7 million (DKK -1.6 million) including non-cash costs of share-based
payment of DKK 1.9 million (DKK 1.5 million).
Net result improved 91% to DKK -0.5 million (DKK -5.7
million). EPS amounted to DKK -0.01 (DKK -0.16).
Cash flow from operating activities improved to DKK
-1.0 million (DKK -3.4 million).
Full year financial guidance is maintained for EBITDA
around DKK 5 million and revised for expected revenues of approximately DKK 150
million to revenues of approximately DKK 135 million.
Operational
highlights 

On 23 April 2014 Exiqon announced the
launch of highly potent miRCURY LNA(TM) microRNA Mimics for functional
analysis.
On 6 May 2014 Exiqon
announced the launch of its miRCURY(TM) Exosome Isolation kits for exosome
isolation from various biofluids and cell media.
On 9 May 2014 Exiqon announced the launch of its
XploreRNA(TM) app for advanced cross-database searches, easy interpretation of
data and seamless planning of experiments. XploreRNA(TM) is the first in a series
of new apps from Exiqon for scientists in both academia and
industry. 
In a comment CEO Lars Kongsbak said: 'I am encouraged
by our continued profitability, driven by improved margins following last
years' supply chain optimizations, despite soft revenues in the first half
year. Towards end of the second quarter we have witnessed an accumulation of
large orders, and we expect renewed growth in products and services sales will
come from new products once our recent growth initiatives begin to take effect
in the second half year.' 
News Source: NASDAQ OMX



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14.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:    English       
Company:     Exiqon A/S    
 
 
             Denmark       
ISIN:        DK0060077758  
 
 
End of News    DGAP News-Service  
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282404 14.08.2014