Agfa HealthCare of Mortsel, Belgium, posted fiscal 2005 third-quarter (end-September 30) sales of 334 million euros ($392 million U.S.), a slight uptick compared with the 331 million euros ($388 million) from the same period last year.
The vendor said that, excluding currency effects and recent acquisitions, sales in the healthcare business unit decreased by 11.2% for the quarter. Agfa stated that the main reason for the decrease is a faster-than-anticipated decline in its traditional film business, which has not yet been compensated by an equivalent increase in its information technology (IT) products.
The company reported that HealthCare's operating profit was 12.2 million euros ($14.3 million) for the period, a steep downturn compared with the 46.8 million euros ($54.9 million) shown in the third quarter of 2004.
Agfa also stated that HealthCare's earnings before interest, taxes, depreciation, and amortization (EBITDA) before restructuring and nonrecurring items decreased 46.2%, percent from 72.9 million euros ($85.5 million) in the third quarter of 2004 to 39.2 million euros ($46 million), or 11.7% of sales.
Agfa remains upbeat about its performance expectations, saying it expects stronger sales in the next three months and a particularly strong last quarter in HealthCare.
By AuntMinnie.com staff writers
November 17, 2005
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