Exiqon A/S
INTERIM REPORT FOR THE PERIOD 1 JANUARY – 31 MARCH 2014

DGAP-News: Exiqon A/S /

05.05.2014 / 16:13

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First quarter highlights include 18% growth in North American sales, 20%
increase in gross profit,  positive EBIT of DKK 0.5 million and first ever
reported positive Earnings Per Share of DKK 0.02. 

Exiqon A/S (NASDAQ OMX Copenhagen: 'EXQ') today announced results for the first
quarter of 2014: 

In summary (DKK million)              Q1 2014  Q1 2013  FY 2013  Outlook 2014
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Revenue                                  32.5     31.8    123.6         ~ 150
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Gross profit                             22.0     18.4     75.5              
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EBITDA                                    1.6     -2.0     -4.1           ~ 5
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EBIT                                      0.5     -3.4     -8.8              
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Net profit                                0.8     -4.5    -10.7              
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Cash flows from operating activities     -2.3     -3.2      3.2              
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EPS                                      0.02    -0.12    -0.29              
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 Financial highlights

  -- Revenue increased 2% to DKK 32.5 million (DKK 31.8 million). Research
     product sales and services (excluding OEM) increased 1% to DKK 24.9 (DKK
     24.7 million) driven by North America and Rest of World.
  -- Gross profit increased 20% to DKK 22.0 million (DKK 18.4 million) driven by
     optimizations in the supply chain and manufacturing in combination with
     increased income from licensing.
  -- Total operating expenses decreased 1% to DKK 21.6 million (DKK 21.8
     million).
  -- EBITDA improved to DKK 1.6 million (DKK -2.0 million) including non-cash
     costs of share-based payments of DKK 0.9 million (DKK 0.8 million). EBIT
     improved to DKK 0.5 million (DKK -2.0 million).
  -- Net result was DKK 0.8 million (DKK -4.5 million). EPS amounted to DKK 0.02
     (DKK -0.12).
  -- Cash flow from operating activities was DKK -2.3 million (DKK -3.2
     million).
  -- The financial outlook for 2014 is unchanged.


 Operational highlights

  -- On 21 January 2014 Exiqon announced the launch of the company's new Next
     Generation Sequencing services for microRNAs and other RNAs.
  -- On 4 February 2014 Exiqon announced the launch of a new version of
     miRSearch, an established online search tool for rapid retrieval of
     detailed information about microRNA as well as related mRNA and lncRNA.
  -- After end period, on 23 April 2014 Exiqon announced the launch of highly
     potent miRCURY LNA(TM) microRNA Mimics to complement the company's product
     offering for functional analysis.

In a comment CEO Lars Kongsbak said: ''First quarter 2014 marks an important
milestone of positive earnings, driven by improved gross profit, that has taken
priority for the past three years. Our qPCR product offering and products for
functional analysis including LNA(TM) Gapmers continue to pave the way for
profitability. We have launched our new Next Generation Sequencing Services and
completed the first service projects during the first quarter to support our
continued growth.' 

Additional information
Lars Kongsbak, CEO, +45 4566 0888 (mobil: +45 4090 2101)
Hans Henrik Chrois Christensen, CFO +45 4566 0888 (mobil: +45 4090 2131)

About Exiqon
Exiqon's products are based on the proprietary LNA(TM) technology. This technology
offers unique advantages for detection of miRNA biomarkers for life science
researchers, drug developers and cancer treating physicians working towards
personalizing medicine. Exiqon operates in two business areas: Exiqon Life
Sciences has established a position for itself as one of the market's leading
providers of miRNA research products for miRNA analysis in cells. Our research
products are used by academia, biotech and pharmaceutical companies around the
world to make groundbreaking discoveries about the correlation between gene
activity and the development of cancer and other diseases. Exiqon Life Sciences
is also collaborating with pharmaceutical companies in their effort to develop
new medicines based on miRNA as biological markers. Exiqon Diagnostics
collaborates with pharmaceutical and diagnostic companies to develop novel
molecular diagnostic tests for early detection of diseases which can help
physicians make treatment decisions. Exiqon is listed on the NASDAQ OMX in
Copenhagen. For more information about us, please visit www.exiqon.com
News Source: NASDAQ OMX


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Language:    English       
Company:     Exiqon A/S    
 
 
             Denmark       
ISIN:        DK0060077758  
 
 
End of News    DGAP News-Service  
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