An increase in managed services contracts for imaging IT systems helped Swedish PACS vendor Sectra achieve a net sales milestone in its 2015/2016 fiscal year.
In its fourth quarter (end-April 30), Sectra had net sales of 315.1 million Swedish kronor ($37.8 million U.S.), up 17.4% from 268.3 million Swedish kronor ($32.2 million U.S.) in the fourth quarter of 2014/2015. The firm had fourth-quarter operating profit of 58 million Swedish kronor ($7 million U.S.), compared with operating profit of 42.4 million Swedish kronor ($5.1 million U.S.) in the same period last year.
For the year, Sectra had net sales of 1.07 billion Swedish kronor ($128.6 million U.S.), marking the first time the company has exceeded 1 billion Swedish kronor in net sales. The 2015/2016 net sales were up 11.7% from the 961.4 million Swedish kronor ($115.4 million U.S.) recorded in 2014/2015. The vendor had 2015/2016 operating profit of 165.5 million Swedish kronor ($19.9 million U.S.), compared with 150.3 million Swedish kronor ($18 million U.S.) in the previous year.
President and CEO Torbjörn Kronander said in a statement that while the firm's Imaging IT Solutions business performed well, Sectra's Secure Communications business has failed to meet expectations for several years. The company is now refocusing its efforts in this area through the launch of analysis and monitoring systems for customers in the energy sector.
Sectra is also proposing a shareholder distribution of 4.50 Swedish kronor (54¢ U.S.) per share through a share redemption program.
