On May 13, 2016 SciBase reported the first quarter in figures (Press release, SciBase, MAY 13, 2016, View Source [SID:1234512370]).
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Total net sales amounted to TSEK 1,066 (1,057).
The loss after tax amounted to TSEK 11,600 (9,179).
The loss per share amounted to SEK 1.40 (1.84).
The cash flow from current operations was negative in the amount of TSEK 11,247 (9,197).
Significant margin improvement with gross margin increasing to 26.3% in Q1 (2.6% Q1 15).
Important events during the quarter
SciBase’s PMA application was accepted on January 14th as complete starting the formal evaluation process by the FDA. There has been a high level of interaction between SciBase and the FDA during and continuing after the first quarter.
Continued good growth in key market Germany with total sales up 20% and electrode sales volume up 49%.
SciBase has signed a distribution agreement for Switzerland with CDP SWISS AG. The sales and marketing effort of SciBase’s melanoma detection product Nevisense will initially focus on the nearly 400 dermatologists that work in private clinics in Switzerland.
A change in the Company’s board of directors was communicated as Viktor Dvrota, as a result of his appointment as Head of Investment at Karolinska Development, has resigned from SciBase’s Board of Directors. Alternate director Andreas Pennervall will take his place.
Important events after the end of the period
On April 25th, the Annual Report for 2015 was published.
Apr 1 2015 –
Jan 1 – Mar 31 Mar 31 2016 Jan 1 – Dec 31
THE GROUP 2016 2015 Rolling-12 2015
Net sales, SEK ths 1 066 1 057 4 160 4 151
Gross margin, % 26,3% 2,6% 8,5% 2,5%
Equity/Asset ratio, % 94,4% 73,0% 94,4% 95,1%
Net indebtness, multiple 0,06 0,37 0,06 0,05
Cash equivalents, SEK ths 122 241 17 313 122 241 133 736
Cashflow from operating activities, SEK ths -11 247 -9 197 -48 638 -46 588
Earnings per share (before and after dilution), SEK* -1,40 -1,84 -5,68 -6,01
Shareholder’s equity per share, SEK* 16,19 4,71 17,34 21,09
Average number of shares, 000’* 8 285 4 985 7 735 6 910
Number of shares at closing of period, 000’* 8 285 4 985 8 285 8 285
Share price at end of period, SEK 23,50 - 23,50 31,00
Average number of employees 18 14 15 14
*Adjusted for in May 2015 performed reversed split, 40:1