Swedish PACS firm Sectra posted a revenue gain and a substantial improvement in profitability in the third quarter of its 2015-2016 fiscal year.
For the period (end-January 31), Sectra had net sales of 268.9 million Swedish kronor ($31.7 million U.S.), up 11.3% from the 241.6 million Swedish kronor ($28.5 million U.S.) reported in the third quarter last year. The company had an operating profit of 44 million Swedish kronor ($5.2 million U.S.), up from the 31.9 million Swedish kronor ($3.8 million U.S.) in operating profit posted a year ago.
The company said that several medical IT orders it had received in the previous fiscal year have now reached the operational phase, which is having a positive effect on sales, earnings, and cash flow. Sectra also had 369 million Swedish kronor ($43.5 million U.S.) in order bookings, a total that was higher than quarterly net sales and bodes well for the future, said President and CEO Torbjörn Kronander in a statement.
On the downside, Kronander noted that the company had not yet succeeded in reversing the earnings trend in its secure communications business.
