Artimplant Interim Report January 1 - June 30, 2001.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Aug. 22, 2001 Artimplant AB (OMX OMX Office Max (stock symbol) :ARTIb.): -- In June, Artimplant's first product-Artelontm Augmentation Device ACL- received CE approval, enabling sales in Europe. The roll-out in the Nordic countries is scheduled for the third quarter of 2001 and elsewhere in Europe for the first half of 2002. -- As an essential part of the roll-out of ACL, two key opinion leader education (KOLED) seminars were held in June at leading clinics in the Nordic region. Another 15 KOLED meetings are planned for the latter half of 2001 in various European countries. -- Three-year follow-up data from a pilot study demonstrate that Artimplant's material is biocompatible, that connective tissue vascularizes and grows into the material, and that knees with the implants are stable. The data were presented in May 2001 at ISAKOS in Montreux. -- Permission has been granted to start a forced rehabilitation study using the ACL implant. The goal is to show that patients can be rehabilitated faster with retained knee stability. In August 2001, two patients have already been operated on. -- In the 12-month follow-up on a pilot study using Artimplant's spacer implant for thumb-base arthritis, patients demonstrated enhanced gripping strength and reduced pain. The results were presented in March at a Scandinavian conference on hand surgery in Malmo, Sweden. -- Clinical studies on augmentation sutures made of the degradable material Artelontm are scheduled to start in the latter half of 2001. -- In May, the annual shareholders' meeting authorized the Board of Directors to issue up to 2,000,000 new B-shares on one or more occasions during the period until the next annual meeting, with or without shareholders' preferential rights. -- According to plan, consolidated income for January-June totaled SEK 11.7 million (SEK 12.4 million one year earlier). The loss after taxes was SEK 21.1 million (SEK 6.8 million loss). The loss per share was SEK 2.28 (SEK 0.74 loss). Scheduled financial information: Nine-month interim report: November 7, 2001 Interim reports are made available on Artimplant's web site, www.artimplant.se, at the same time as they are distributed to the media. Artimplant Artimplant specializes in biodegradable biodegradable /bio·de·grad·a·ble/ (-de-grad´ah-b'l) susceptible of degradation by biological processes, as by bacterial or other enzymatic action. bi·o·de·grad·a·ble adj. materials for use in orthopedic surgery Orthopedic Surgery Definition Orthopedic (sometimes spelled orthopaedic) surgery is surgery performed by a medical specialist, such as an orthopedist or orthopedic surgeon, trained to deal with problems that develop in the bones, joints, and ligaments . Artimplant is active in the research and development, manufacturing and marketing of biologically degradable de·grad·a·ble adj. That can be chemically degraded: degradable plastic wastes. de·grad implants with the goal of recreating active lives for patients. The biodegradable material the Company has developed is based on a new technology that is opening new markets in the field of orthopedic surgery as well as other specialized fields where there are significant medical needs. After many years of development efforts, Artimplant is now entering a marketing phase. Artimplant has already developed and patented several different degradable ligament implants, now undergoing clinical trials. The Company is focusing on three high-priority areas for this degradable material: an augmentation AUGMENTATION, old English law. The name of a court erected by Henry VIII., which was invested with the power of determining suits and controversies relating to monasteries and abbey lands. device for anterior cruciate ligament reconstruction  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. , hand surgery, and augmentation sutures. Artimplant is listed on the OM Stockholm Exchange's O list. ARTIMPLANT'S EARNINGS, JANUARY-JUNE 2001 Consolidated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the period January-June 2001 totaled SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 11.7 million (SEK 12.4 million for the same period the preceding year). The operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. for the period was SEK 23.4 million (SEK 10.1 million loss). The loss after tax totaled SEK 21.1 million (SEK 6.8 million loss). Goodwill for Gothenburg Medical Center (GMC GMC See: Guaranteed Mortgage Certificate ) totaled SEK 11.9 million at June 30 and is being amortized over a period of 20 years. The parent company's net sales of SEK 0.5 million consisted primarily of compensation from Molnlycke Health Care. The sales and operating loss were as planned. Net sales by the subsidiary GMC reached SEK 12.1 million (SEK 10.9 million) for January-June 2001. Operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. for the January-June period ended at SEK 0.3 million (SEK 0.4 million). Note to Editors: This press release is also accessible online at www.Waymaker.net. The following files are available for download: http://www.waymaker.net/bitonline/2001/08/22/20010822BIT00130/bit0001.doc http://www.waymaker.net/bitonline/2001/08/22/20010822BIT00130/bit0001.pdf |
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