Ad-hoc | 8 March 2011 19:40
MeVis Medical Solutions AG / Key word(s): Preliminary Results/Profit Warning
08.03.2011 19:40
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Non-cash charges have one-time negative effect on company's earnings
Bremen, March 8, 2011 - Based on its preliminary figures for 2010, MeVis
Medical Solutions AG [ISIN: DE000A0LBFE4], a leading software company in
the field of image-based medicine, produced turnover of approximately EUR
14.4 million (previous year: EUR 13.9 million) and produced EBIT of EUR -6
million (previous year: EUR 1.6 million) as earnings were negatively
affected by EUR 6.3 million in one-time, non-cash charges. EBIT before
non-cash charges was EUR 0.3 million.
The non-cash charges included an impairment charge of approximately EUR 5.5
million on intangible assets associated with the company's pulmonary CT
business, which was acquired in 2008. This impairment charge included about
EUR 4.3 million for the complete write-off of goodwill and some EUR 1.2
million for the amortized costs of the software, licenses and customer base
obtained during the transaction. The intangible assets were depreciated due
to lower than expected sales performance of associated products. However,
the Executive Board expects market potential for these products and
technologies in the mid and long-term. The other non-cash charge was due to
an obligatory grant in the amount of EUR 0.8 million to be paid to a
research partner, which increased the company's other expenses. In previous
years, this obligatory grant had been noted as a financial obligation in
the company's financial statements.
Further preliminary figures for the fiscal year just ended are available in
the company's corporate news release, issued today. The complete
consolidated financial statement, group management report and 2011 forecast
will be released on April 19, 2011.
08.03.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: MeVis Medical Solutions AG
Universitätsallee 29
28359 Bremen
Deutschland
Phone: +49 421 224 95 0
Fax: +49 421 224 95 11
E-mail: ir@mevis.de
Internet: http://www.mevis.de
ISIN: DE000A0LBFE4
WKN: A0LBFE
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of Announcement DGAP News-Service
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