Agfa HealthCare books Q2 sales slip

Justine Varieur Cadet | | Health Exec | EMR/EHR
Agfa Healthcare recorded a 5.8 percent slide in sales for its fiscal 2009 second quarter and attributed the downturn in part to the overall global economic slump.

Agfa HealthCare's net sales decreased to EUR 295 million ($414 million, U.S.), compared with EUR 313 million ($439 million) in the previous year-ago quarter. The sales drop showed the impact of the "longer decision processes for investments in IT and equipment," according to the company. The firm pointed to pruchasing delays by healthcare organizations for CR equipment and imaging IT systems, mainly in the United States and in certain European countries.

However, Agfa said that the market for x-ray film evolved in line with expectations, and it was able to expand its market share for hard-copy film. As indications of strength within its portfolio, the company pointed to growth in emerging markets and a strong performance in enterprise IT.

Agfa HealthCare also said it considerably improved its profitability due to improved service efficiencies and a continued reduction of its selling, general and administrative expenses.

Agfa said it "is inclined to believe that the crisis-driven decline in its most important markets is bottoming out. However, it is still impossible to predict when the markets will pick up and when demand will recover."

Justine Varieur Cadet

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