MeVis Medical Solutions AG Reports Consolidated Earnings Results for the First Quarter of 2013; Provides Earnings Guidance for 2013
MeVis Medical Solutions AG reported consolidated earnings results for the first quarter of 2013. The company reported sales in the first quarter of 2013 came to EUR 3,318,000 down 9% compared to EUR 3,637,000 in the first quarter of 2012. After depreciation and amortization of EUR 495,000 (44% down year on year), and due to the ongoing cost-cutting measures, EBIT (earnings before interest and taxes) could be improved considerably to EUR 806,000 (up a significant 30% on the prior-year figure of EUR 622,000). Pre-tax earnings were EUR 908,000 compared to EUR 532,000 a year ago. Earnings per share were amount to EUR 0.47 compared to EUR 0.06 a year ago.
The company expected sales in 2013 to be down slightly on the 2012 fiscal year. The company expects EBIT to decline slightly in 2013. The company expected a positive cash flow again in 2013, where in addition to the ongoing business the reduction in trade receivables should make a significant contribution.