RaySearch Laboratories AB (publ) Interim Report, January 1-March 31, 2007.STOCKHOLM, Sweden -- * 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 amounted 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. 16.1 M (15.5) * Profit after tax was SEK 5.2 M (5.3) * Earnings per share after tax amounted to SEK 0.46 (0.47) * 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. amounted to SEK 7.1 M (7.3) * Cash flow from operating activities was SEK 13.4 M (12.2) Johan Lof, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of RaySearch Laboratories AB, comments on the first three months of the year as follows: "It is highly pleasing that today we can announce that RaySearch Laboratories and Varian Medical Systems Varian Medical Systems (NYSE: VAR) is engaged in the design and manufacture of advanced equipment and software solutions for treating cancer with radiation, as well as x-ray tubes for original equipment manufacturers, replacement x-ray tubes and flat-panel digital subsystems have signed a long-term collaboration agreement to develop advanced radiotherapy treatment planning In radiotherapy, Treatment Planning is the process in which a team consisting of radiation oncologists, medical radiation physicists and dosimetrists plan the appropriate external beam radiotherapy treatment technique for a patient with cancer. Typically, medical imaging (i.e. of cancer. Varian Medical Systems is the leading supplier of equipment for radiation treatment and we now gain access to the company's large customer installed base. The collaboration involves developing a number of products, the first of which is expected to be available on the market next year. The products will be integrated into Varian's Eclipse[TM] treatment planning system. The Varian-RaySearch collaboration agreement involves radiobiological evaluation and radiobiological optimization of treatment plans for standard photon/electron radiotherapy, intensity modulated mod·u·late v. mod·u·lat·ed, mod·u·lat·ing, mod·u·lates v.tr. 1. To adjust or adapt to a certain proportion; regulate or temper. 2. radiation therapy (IMRT IMRT Intensity-modulated radiation therapy Radiation oncology A format for delivering high-dose RT to regions–eg, nasopharynx, that are surrounded by radiation-sensitive areas; in IMRT, a broad radiation field is divided into hundreds of small pencil beams, ) and proton therapy Proton therapy is a type of particle therapy which utilizes a beam of protons to irradiate a tumor site. Introduction Proton therapy is of interest because of its ability to accurately target and kill tumors, both near the surface and deep seated within the body, while , as well as optimization of conventional 3-D CRT (1) (C RunTime) See runtime library. (2) (Cathode Ray Tube) A vacuum tube used as a display screen in a computer monitor or TV. The viewing end of the tube is coated with phosphors, which emit light when struck by electrons. . The agreement is among the most important events in RaySearch's history. Reaching an agreement with such a large and significant player as Varian is a definitive confirmation that our technology platform is state-of-the-art. Net sales in the first quarter rose 4 percent compared with the year-earlier period and amounted to SEK 16.1 M. At unchanged exchange rates, the sales increase would have been 13 percent. We can note that the number of licenses since the start of RaySearch surpassed 3,000. Support revenues increased during the first quarter by 35 percent to SEK 4.0 M. The company has a strong financial position, with highly favorable liquidity and a solid cash flow. We are facing a sharp expansion of operations within a number of new application areas, such as adaptive radiotherapy and radiation treatment with protons. Accordingly, a comprehensive recruiting effort was initiated in the first quarter. A total of approximately 20 persons will be employed and we have received more than 450 applications. Primarily, this involves strengthening within research and development with more system developers, mathematicians and radiation physicists. Through this recruitment, we will be increasing the number of employees by 60-70 percent. We are looking forward to some important launches during the year. The agreement with Philips in adaptive radiation adaptive radiation, in biology, the evolution of an ancestral species, which was adapted to a particular way of life, into many diverse species, each adapted to a different habitat. therapy aims to develop a suite of three products. The plan is for the first product, p-RayAdaptive/IGRT to reach the market during the second half of 2007. In the cooperation regarding quality assurance within IMRT between RaySearch and Scanditronix-Wellhofer, three new products will also be developed. The first two, i-RayDose and i-RayMonitor, are under development and will be launched in the second half of 2007. We are also conducting significant development work within proton and carbon-ion therapy, a large future area in radiation therapy. This work will result in an innovative treatment planning system for treatment with protons and carbon ions. Philips and Nucletron, two large players on the market, are already our partners. Now with the addition of Varian, we have collaboration agreements with three of the four companies that together account for the absolute largest share of sales globally in treatment planning systems. Our product portfolio is expanding continually and the collaboration with Varian is highly welcome to further strengthen RaySearch's position." Stockholm, May 8, 2007 RaySearch Laboratories AB Johan Lof, President and CEO This information was brought to you by Cision http://newsroom.cision.com |
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