LinkMed reports fourth quarter net sales of SEK 20.0 million

LinkMed AB (publ) (STO:LMED):

-- Net sales for the year were SEK 80.5 million (83.2). Currency effects had a negative impact on sales of SEK 8 million for the year.

-- Net sales for the fourth quarter were SEK 20.0 million (19.1). Currency effects had a negative impact on sales of SEK 1 million for the quarter.

-- The underlying sales growth of Olerup SSP products for the fourth quarter was very strong. Growth for Olerup GmbH in local currency was 11 % and for Olerup Inc. was a notable 36 %.

-- Operating loss (EBIT) for the year was SEK 8.1 million (+18.7), with a loss of SEK 4.0 million (+0.5) in the fourth quarter. Nonrecurring costs had a negative impact on fourth quarter results of SEK 3.3 million. In the comparative figures for 2009, Absorber is only included from November 18 and Olerup Inc. not at all.

-- Loss after tax for the year was SEK 13.6 million (+10.2).

-- Loss per share basic and diluted was SEK 0.58 (+0.69) for the year.

-- Equity per share was SEK 33.43 (34.71).

Key events in the fourth quarter

-- LinkMed streamlined its organization in conjunction with new strategic direction.

-- LinkMed appointed Ondra Partners as financial advisors in conjunction with the ongoing exit processes.

-- The patient logistics solution PatLog® from ONCOlog Medical is included in the proton therapy facility that the Belgian company IBA has been commissioned to deliver to a new center in Dimitrovgrad, Russia.

-- ONCOlog Medical's PatLog® system was installed at a radiotherapy center in Germany.

-- Likvor received an order for the Likvor CELDA® system from the örebro University Hospital.

Key events after the period end

-- Distribution agreements for the Brazilian market were entered into by the transplantation companies

-- Likvor's CELDA® system was purchased by the Kuopio University Hospital in Finland.

-- Olerup SSP increased its product range through two exclusive sales agreements.

Comments from CEO Ingemar Lagerlöf on the quarter:

"Our intensive marketing and sales efforts have started to generate strong results. The build-up of our operations in the U.S. involved costs of SEK 12 million for the year. It is therefore with great pleasure that I am able to announce a strong sales growth of 36 percent in the U.S. for the fourth quarter. Our European team also generated a solid 11 percent growth. Over the past two quarters we incurred higher one-off costs, amounting to SEK 9.9 million, in order to transform LinkMed from a broad life science investment company to a global operator in the transplantation sector. In 2011, we will work intensively to generate high growth, mainly organic; however, we may also expand our product range through acquisitions and licensing."