PACS provider Sectra posted a slight decrease in revenue and profit in the second quarter of its 2018-2019 fiscal year, mainly due to currency changes and ventures in new markets and product areas.
For the period (end-October 31), Sectra's net sales increased to 327.4 million Swedish kronor ($36.3 million U.S.), up 4.5% from net sales reported in the same fiscal quarter in 2017-2018. Adjustments for currency fluctuations, however, ultimately turned this into a decrease in sales by 0.7%.
The company's operating profit for the second quarter fell to 48.4 million kronor ($5.3 million), down 27.7% after adjusting for currency fluctuations from 59.8 million kronor ($6.6 million) for the same period last year.
Investments into new markets dampened second-quarter earnings, but the favorable order volume of the first and second quarters have kept Sectra above its financial goal for the most recent 12-month period, the company said.
