MeVis Medical Solutions AG: Existing trends continued
Significant revenue contributions from services
Revenues in the second quarter with EUR 4.2 million 9 % above prior year Earnings before interest an taxes (EBIT) in the second quarter of EUR 0.7 million(below prior-year's figure of 1.2 million), 17 % EBIT margin
Bremen, May 18, 2017 - MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a leading provider of medical imaging software, today announced its figures for the first half of fiscal year 2017 (reporting period: October 1, 2016 to March 31, 2017.
Sales generated in the second quarter of 2017 amounted to EUR 4,219 k, up 9 % compared to the same quarter in the previous year (EUR 3,876 k). The development support services provided to Hologic accounted for a substantial share of this increase. As a result, sales rose year on year to EUR 9,756 k (prev. year: EUR 7,957 k) in the first half of the year. The increase in revenues in the first half of the year resulted mainly from the sale of extensive usage rights for our tool for the development of software prototypes, MeVisLab, for EUR 1,800 k, which is also included in the sales of the Other Diagnostics segment. Sales of new licenses fell by 18 % to EUR 2,848 k, and the maintenance business decreased by 5 %. Sales in the Digital Mammography segment decreased by 5 % to EUR 5,971 k (prev. year: EUR 6,257 k), whereas sales in the Other Diagnostics segment increased to EUR 3,785 k (prev. year: EUR 1,700 k); without the one-time effect, this corresponds to growth of 17 %.
Operating costs increased significantly in the second quarter of 2017, as planned. Personnel expenses saw a substantial 53 % increase because of exercised stock options, cumulated for the first half of the year, this corresponds to a rise of 18 %. At EUR 527 k (prev. year: EUR 529 k), other operating expenses remained constant year on year in the second quarter. Cumulated for the first half of the year, other operating expenses fell 22 % year on year.
Depreciation and amortization came to EUR 677 k (down 25 % year on year, primarily due to lower scheduled write-downs on capitalized development costs), resulting in EBIT (earnings before interest and taxes) of EUR 3,610 k (up a significant 78 % on the previous year's figure of EUR 2,033 k) for the reporting period and a corresponding EBIT margin of 37 % (prev. year: 26 %).
The financial result improved significantly year on year, from EUR -979 k to EUR 1,095 k. Effects from the development of the US dollar exchange rate, combined with a high share of liquidity in US dollars, were largely responsible for this.
The tax result stood at EUR -1,150 k. After-tax earnings consequently fell by EUR 540 k to EUR 3,555 k, which is equivalent to undiluted earnings per share of EUR 1.95 (prev. year: EUR 2.25).
The interim report for Q3 2017 will be published August 22, 2017. The company's financial reports are available for download on the following website:
18.05.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: MeVis Medical Solutions AG Caroline-Herschel-Str. 1 28359 Bremen
Germany Phone: +49 421 224 95 0 Fax: +49 421 224 95 999 E-mail: email@example.com Internet: http://www.mevis.de ISIN: DE000A0LBFE4 WKN: A0LBFE Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service