Agfa HealthCare reported fiscal third-quarter net sales of 331 million euros ($431.1 million U.S.), down 2.9% compared to the 341 million euros ($444.1 million) booked in the third quarter a year ago. If currency effects had been excluded, net sales would have climbed 1%, Agfa said.
For the quarter (end-September 30), the Mortsel, Belgium-based vendor had an operating profit of 46.8 million euros ($60.9 million), a 27.4% drop from an operating profit of 64.5 million euros ($84 million) for the same period last year.
Agfa attributed the profit reductions in the third quarter of 2004 to increased restructuring charges, continuous adverse exchange-rate effects, and higher raw material prices.
The firm recently made a step forward in its strategy to become a leading player in enterprisewide IT products for the healthcare sector by acquiring Symphonie On Line, an Artigues-Près-Bordeaux, France-based developer of hospital information systems (HIS) and electronic patient records (EPR). Symphonie On Line posted 2003 revenues of 24 million euros ($31.3 million) and will be consolidated into Agfa's results starting from October 2004, Agfa said.
By AuntMinnie.com staff writers
November 18, 2004
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