Agfa HealthCare sees slight rise in Q2
 |
Agfa HealthCare, based in Morstel, Belgium, reported a €296 million ($376.04 million U.S.) for the second quarter of 2010, versus €295 million ($374.77 million U.S.) in the comparable quarter of the previous year.
Performing better than in the first months of this year, Agfa HealthCare said it booked a slight revenue increase of 0.3 percent (a decrease of 3.7 percent excluding currency effects) compared to the second quarter of 2009, adding that the “traditional imaging products continued their market-driven decline.”
However, the Agfa noted that computed radiography (CR) performed “well and a strong order intake was booked for CR, as well as for DR.”
For IT, revenue grew substantially in the emerging countries and the U.S. Yet, in certain southern European countries, the “unstable economic climate weighed on Agfa HealthCare’s IT sales,” whereas the beginning of an upturn was noticed in the German and northern European markets, the company reported.
Overall, Agfa HealthCare said its recurring earnings before interest, taxes, (EBIT) depreciation and amortization amounted to €48.1 million ($61.1 million U.S.), or 16.3 percent of revenue. Recurring EBIT improved strongly to €35.6 million ($45.23 million U.S.), or 12 percent of revenue.
Also, the unit’s selling, general and administrative expenses remained stable.
For its guidance, Agfa HealthCare predicted a “better top line performance in the second half of the year,” as the unit expects its full year EBIT to revenue ratio to be closer to 11 percent than to 10 percent.