Lackluster economic conditions and sluggish budgetary situations in countries adversely affected second-quarter results for PACS developer Sectra (end October 31).
Sectra's net sales for the six-month period reached 388.5 million kronor ($54.4 million U.S.). The total includes a nonrecurring item of 30 million kronor ($4.2 million U.S.) from the discontinued operation of Sectra's MicroDose business, which the company sold to Philips Healthcare in the second quarter.
Excluding the nonrecurring item, sales declined 7% to 358.5 million kronor ($50.2 million U.S.), compared with 385.7 million kronor ($54 million U.S.) in the same period last year.
For the six-month period, Sectra reported an after-tax profit of 340 million kronor ($47.6 million U.S.), which includes a preliminary capital gain of 322.6 million kronor ($45.2 million U.S.) from the sale of the MicroDose operations.
Excluding the effect of the nonrecurring item, six-month earnings rose 17% to 40.3 million kronor ($5.6 million U.S.), compared with 34.5 million kronor ($4.8 million U.S.) a year ago.
Six-month order bookings rose 21% to 381.4 million kronor ($53.4 million U.S.), compared with 290.8 million kronor ($40.7 million U.S.) in the same period a year ago.
In the second quarter, excluding the nonrecurring item, Sectra's net sales amounted to 189.2 million kronor ($26.5 million U.S.), down 11% compared to 212.9 million kronor ($29.8 million U.S.) in the same period last year. Net profit after net financial items increased to 24.1 million kronor ($3.8 million U.S.), compared with 21.6 million kronor ($3 million U.S.) in last year's second quarter.
Sectra's order bookings for the second quarter rose 55% to 190.6 million kronor ($26.7 million U.S.), compared with 123.1 million kronor ($17.2 million U.S.) in last year's second quarter.
