BIACORE OVERALL SALES INCREASED 21% IN 2ND QTR OF 2006.Biacore, Stockholm, Sweden, continued to make very good progress in the second quarter of 2006. Overall sales increased by 21% to 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. 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 Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. 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 Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: 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 diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of 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 GE Healthcare is a $18 billion (USD) unit of General Electric (GE). It employs more than 46,000 people worldwide and is headquartered in Chalfont St. Giles, Buckinghamshire, United Kingdom. GE Healthcare is the first GE business segment headquartered outside the United States. ("GEHC GEHC General Electric Healthcare ") 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 Fairness Opinion A report put together by qualified analysts or advisors providing to key decision makers an evaluation of and facts about a merger or acquisition. Notes: A fairness opinion serves as a document used for guidance in a merger, takeover, or acquisition. from Carnegie Investment Bank Carnegie Investment Bank AB is a Swedish company which specialises in stockbroking, investment banking and asset management. History Carnegie was founded in 1803 when David Carnegie, Sr., a Scotsman, founded D. Carnegie & Co AB in Gothenburg. 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 more information, visit http://www.biacore.com. |
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