An increase in managed services contracts for imaging IT systems helped Swedish PACS vendor Sectra to achieve a net sales milestone in its 2015/2016 fiscal year.
In its fourth quarter (end-April 30), Sectra had net sales of 315.1 million Swedish kronor (33.9 million euros), up 17.4% compared with 268.3 million kronor (28.9 million euros) in the fourth quarter of 2014/2015. The firm had a fourth-quarter operating profit of 58 million kronor (6.3 million euros), compared with operating profit of 42.4 million kronor (4.6 million euros) from the same period last year.
For the year, Sectra had net sales of 1.07 billion kronor (115.7 million euros), marking the first time the company has exceeded 1 billion kronor in net sales. The 2015/2016 net sales were up 11.7% from the 961.4 million kronor (103.6 million euros) recorded in 2014/2015. The vendor had a 2015/2016 operating profit of 165.5 million kronor (17.8 million euros), compared with 150.3 million kronor (16.2 million euros) in the previous year.
While the firm's imaging IT business performed well, Sectra's secure communications business has failed to meet expectations for several years, President and CEO Torbjörn Kronander said in a statement. The company is now refocusing its efforts in this area through the launch of analysis and monitoring systems for customers in the energy sector.
Sectra is also proposing a shareholder distribution of 4.50 kronor (48 euro cents) per share through a share redemption program.
