Västra Frölunda, Sweden, February 10, 2011
· Net revenue for the fourth quarter amounted to SEK 3.5 million (5.8) and for January-December SEK 18.5 million (24.0).*
· The net loss for the fourth quarter totaled SEK 7.4 million (5.4) and for January-December SEK 22.4 million (18.6).
· Earnings per stock unit for the fourth quarter amounted to SEK -0.07 (-0.09) and for January-December SEK -0.32 (-0.31).
· Artimplant’s own sales as a proportion of total sales continued to increase and were equivalent to 70% (60) of product sales for the fourth quarter, equivalent to 61% (37) for the full year.
· Compared to 2009, Artimplant’s own sales in the USA more than doubled whilst revenue from license sales was halved.
· Artimplant’s rights issue was subscribed up to 189% and generated capital input for the Company of approximately SEK 38.5 million before issue costs.
· Artimplant’s strategy has been focused on marketing with increased intensity in own sales in the USA.
· Artimplant implemented staff cutbacks in Sweden during the fall of 2010 equivalent to an annual saving of approximately SEK 5 million once the periods of notice came to an end. At the same time the Company has employed more product specialists in the USA.
· The Board proposes that no dividend be paid for 2010.
Events after the period-end
· The launch of the new Artelon® Tissue Reinforcement products has commenced.
N. B. This is a translation from Swedish. The Swedish version shall always take precedence.
Artimplant will hold a telephone conference by reason of this report on February 10, 2011 at 11 am (CET). For further information see www.artimplant.com.
* Figures in brackets refer to the corresponding period last year.
For further information, please contact: Hans Rosén, CEO, phone 46 (0)31-746 56 00, 46 (0)708 58 34 70, email@example.com (firstname.lastname@example.org)
Lars-Johan Cederbrant, CFO, phone 46 (0)31-746 56 54, 46 (0)703 01 68 54, email@example.com (firstname.lastname@example.org)
Further information is available at www.artimplant.com (http://www.artimplant.com). To subscribe to future press releases please go to www.artimplant.com/investors-media/subscribe-to-press-releases.html (http://www.artimplant.com/investors-media/subscribe-to-press-releases.html)
Artimplant’s mission is to restore the health of patients by offering medical professionals degradable implants that help the body to heal. Artimplant is a medical technology company that restores health through the development, production and marketing of degradable implants that regenerate body functions and improve quality of life. Our products are made from Artelon®, a biomaterial developed by the Company. Artimplant produces implants for the treatment of osteoarthritis and the reinforcement of weakened soft tissue. The Company’s products are sold through licensees and own sales under the Artimplant brand take place through agents and distributors. Artimplant is a public company listed on the NASDAQ OMX Stockholm Exchange in the Small Cap segment and in the Healthcare sector.
This press release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company’s business including increased competition; the ability of the Company to expand its operations and to attract and retain qualified professionals; technological obsolescence; general economic conditions; and other risks detailed from time to time in the Company’s filings.
This is information which Artimplant shall make public pursuant to the Swedish Financial Instruments Act and the Swedish Securities Exchange and Clearing Operations Act and/or stock market agreements. Information was made available for publication on February 10, 2011 at 8am (CET).
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