Growth in the U.S. market helped PACS provider Sectra to produce a nearly 11% increase in net sales for its 2019-2020 fiscal first quarter. Higher implementation costs led to a decline in profitability, however.
For the period (end-July 31), Sectra had net sales of 332.8 million Swedish kronor (30.9 million euros), up 13.3% on a nominal basis and 10.6% on a currency-comparable basis from the 293.7 million kronor (27.3 million euros) reported in the first quarter of 2018-2019. The company said that its fastest growth was produced in the U.S., which has now become its largest market in terms of sales.
Sectra had quarterly profit before tax of 30.6 million kronor (2.8 million euros), compared with 33.7 million kronor (3.1 million euros) in the same period last year. The firm said that profitability was hurt by increased operating expenses, mainly due to higher personnel and consulting costs for deploying commissioned customer projects.
