Agfa HealthCare reported fiscal year-end sales of 1.361 billion euros ($1.827 billion U.S.), a 3.3% downturn compared to the 1.408 billion euros ($1.89 billion) booked in fiscal 2003. If currency effects and the acquisition of the French hospital information technology company Symphonie On Line had been excluded, net sales would have climbed 0.4%, Agfa said.
The business unit of the Mortsel, Belgium-based vendor posted an operating profit after restructuring charges and nonrecurring items of 192.9 million euros ($258.9 million) for fiscal 2004, compared with an operating profit of 275.8 million euros ($370.1 million) in the previous fiscal year. The vendor said it took restructuring charges and nonrecurring items of 32.8 million euros ($44 million) for the year, which impacted the segment's operating results.
For the fourth quarter (end-December 31), Agfa's healthcare segment posted revenue gains of 4.9%, to 382 million euros ($513 million), compared with revenue of 364 million euros ($488.6 million) in the prior-year period. HealthCare's operating profit, after accounting for 20.6 million euros ($27.7 million) in restructuring charges and nonrecurring items, amounted to 56 million euros ($75.2 million) for the fourth quarter, Agfa said.
The firm said it expects the impact of currency fluctuations and the cost of raw materials will continue to affect it in 2005, but that it is confident it will grow revenue with its more focused business portfolio and the strength of its recent acquisitions.
In other Agfa corporate news, the company has tapped CEO Ludo Verhoeven to succeed Pol Bamelis as chairman of the board. Agfa executive vice president Marc Olivié will be appointed Agfa's president and CEO.
By AuntMinnie.com staff writers
March 11, 2005
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