- Revenues in the third quarter with € 4.4 million 17 % above prior year
- Earnings before interest an taxes (EBIT) in the third quarter of € 1.7 million (above prior-year’s figure of 1.1 million), 39 % EBIT margin
Bremen, August 22, 2017 – MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a leading provider of medical imaging software, today announced its figures for the first three quarters of fiscal year 2017 (reporting period: October 1, 2016 to June 30, 2017.
Sales generated in the third quarter of 2017 amounted to € 4,440 k, up 17 % compared to the same quarter in the previous year (€ 3,795 k). The development support services provided to Hologic accounted for a substantial share of this increase. As a result, sales rose year on year to € 14,196 k (prev. year: € 11,752 k) in the first three quarters. The increase in revenues resulted mainly from the sale of extensive usage rights for our tool for the development of software prototypes, MeVisLab, for € 1,800 k, which is also included in the following in the sales of the Other Diagnostics segment, as well as from the aforementioned development services for Hologic. Sales of new licenses fell by 15 % to € 4,231 k, and the maintenance business decreased by 6 %. Sales in the Digital Mammography segment decreased by 3 % to € 8,984 k (prev. year: € 9,226 k), whereas sales in the Other Diagnostics segment increased to € 5,212 k (prev. year: € 2,526 k); without the one-time effect, this corresponds to very strong growth of 35 %.
Operating costs increased in the third quarter of 2017, as planned. Personnel expenses saw a substantial 18 % increase on account of the stock options issued in 2013 and exercised in the second and third quarters of 2017. Cumulated for the first three quarters, this also corresponds to a rise of 18 %. At € 448 k (prev. year: € 474 k), other operating expenses remained constant year on year in the third quarter. Cumulated for the first three quarters, other operating expenses fell by 18 % year on year.
Depreciation and amortization came to € 959 k (down 29 % year on year, primarily due to lower scheduled write-downs on capitalized development costs), resulting in EBIT (earnings before interest and taxes) of € 5,327 k (up a significant 69 % on the previous year’s figure of € 3,143 k) for the reporting period and a corresponding EBIT margin of 38 % (prev. year: 27 %).
The financial result improved year on year, from € -487 k to € -211 k. The earnings of the 51 % share in MeVis BreastCare GmbH & Co. KG, which is recognized at equity, was largely responsible for this.
The tax result stood at € -1,149 k. After-tax earnings consequently fell by € 1,725 k to € 3,967 k, which is equivalent to undiluted earn-ings per share of € 2.18 (prev. year: € 3.13).
"We are pleased about the strong performance in the third quarter and thus, the continuation of the positive trend of the first two quarters." said Mr. Kirchhoff, CEO of MeVis Medical Solutions AG. Dr. Robert Hannemann, CFO of MeVis Medical Solutions AG, added: "We hold on to the forecast for the current fiscal year and expect a significant increase in sales to between € 17.0 million and € 17.5 million and an EBIT of between € 5.0 million and € 5.5 million.”
The company's financial reports are available for download on the following website: