Swedish technology firm Sectra reported growth in revenues in its medical division in the company's recently completed fiscal year (end-April), although operating profit dipped.
For the year, Sectra's medical systems unit reported sales of 498.8 million kronor ($68.7 million), up 27% compared with 392.1 million kronor ($54 million) in the previous fiscal year. The division's operating profit fell to 43.9 million kronor ($6 million), compared to an operating profit of 59 million kronor ($8.1 million) the year before.
In annual highlights, Sectra said the number of new installations for its healthcare IT products like PACS grew 27%, with U.S. installations growing 25%. The company said medical earnings were affected by the firm's investment in expanding its distribution network and service organization and by its increasing share of direct sales as it takes over sales once handled by marketing partner Philips Medical Systems of Andover, MA.
By AuntMinnie.com staff writers
May 23, 2006
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