20th July 2006:
• Biacore continued to
make very good progress in the second quarter of 2006. Overall sales
increased by 21% to SEK 161.6 million (133.1). This strong performance was
again driven by the Americas and Europe where sales increased by 48% and 33%
respectively. Sales in Asia declined. In the first six months of 2006, total
sales grew by 20% to SEK 299.5 million (249.1). Excluding the effect of
exchange rates, sales increased by 17%.
• Operating income for the second quarter increased by 41% to SEK 33.1
million (23.4). This much improved operating result was due to the strong
sales performance and an improved gross margin. The operating margin in the
second quarter was 20.5% (17.6). Operating income in the first half of 2006
increased by 72% to SEK 64.0 million (37.3).
• Net income in the second quarter of 2006 amounted to SEK 23.2 million
(113.3). Diluted earnings per share were SEK 2.34 (11.61). A tax credit of
SEK 97 million (SEK 9.91 per share) is included in net income for the second
quarter 2005. Net income in the first half-year 2006 amounted to SEK 42.1
million (125.3). Diluted earnings per share in the first half-year 2006 were
SEK 4.26 (12.85).
• On June 20, 2006, GE Healthcare (“GEHC”) announced a public cash offer to
the shareholders of Biacore to acquire all outstanding shares in Biacore.
Biacore’s shareholders are being offered to tender their shares to GEHC for
the consideration of SEK 330 in cash for each share in Biacore. On the same
day, the Board of Directors of Biacore issued a statement expressing its
opinion that the transaction is in the shareholders’ best interest and
unanimously recommended the shareholders in Biacore to accept the offer. The
Board’s recommendation is, among other factors, based on a fairness opinion
from Carnegie Investment Bank AB that the offer is fair to the shareholders
in Biacore from a financial point of view.
• Biacore has modified its forecast for the full-year 2006. The Company
expects sales to increase at a somewhat higher rate than in 2005 with
operating income growing faster than sales. As usual, the Company’s
performance will vary between the quarters.
The previous forecast stated: “Biacore still expects sales for the full-year
2006 to increase at approximately the same rate as in 2005. Operating income
for the full-year is expected to grow at a faster rate than sales. As usual,
the Company’s performance will vary between the quarters.”
For further information,
please contact:
Erik Walldén, President and CEO, Phone +46 (0)702 252 270
Lars-Olov Forslund, CFO, Phone +46 (0)702 252 727
Jan Isoz, Investor Relations, Phone +46 (0)708 10 31 17
Biacore International AB (publ)
Company registration number: 556534-5211
Head office
Biacore International AB, Rapsgatan 7, SE-754 50 Uppsala, Sweden
Phone +46 18 67 57 00
info@biacore.com
www.biacore.com
(SSE: BCOR; Reuters: BCOR.N)
Scientific/Trade Press Enquiries:
Biacore:
Sue Cresswell, Market
Communication Director
+41 (0) 79 710 8311
Northbank Communications:
Lorna Watson, Senior
Account Manager
+44 (0) 20 7886 8157
The following files are
available for download:
