Investments in infrastructure and higher development and legal fees contributed to a higher loss for Swedish-based RaySearch Laboratories in the first nine months of 2013.
For the period (end-30 September), the radiation therapy firm had net sales of 114.4 million Swedish kronas (12.82 million euros), representing a 9.2% increase compared with the 105.2 million kroner (11.8 million euros) last year. The sales increase was driven by increased deliveries of RayStation and growing partner sales, according to RaySearch.
However, the firm had a loss after tax of 25.9 million kronas (2.9 million euros), compared with a loss of 5.5 million kronas (620,000 euros) a year ago. The increased loss was due to investments in the build-up of infrastructure for sales, marketing, and support of RayStation, higher development costs, and higher legal fees related to the patent dispute in the U.S., according to the vendor.
RaySearch said it believes, however, that prospects are favorable for a very strong end to 2013.
