MEDIAN Technologies (ALMDT), a developer of medical imaging software and provider of services for the interpretation and management of imaging in oncology, has announced its half-yearly results for 2016.
The Board of Directors of MEDIAN Technologies met on October 6, 2016 and approved the consolidated financial statements for the first six months of 2016.
“In the first half of 2016, MEDIAN again recorded a strong growth of its activities in the clinical trials market. MEDIAN also secured major partnerships with the launch of a collaborative project with Microsoft and the extension of the collaboration with START. The first half of 2016 also marked a new stage in the company’s development with the strengthening of the presence in the United States in anticipation of future growth,” saidFredrik Brag, Chief Executive Officer of MEDIAN Technologies
In € thousand (audited) |
30/06/2016 |
30/06/2015 |
Income from ordinary operations |
2,920 |
1,436 |
| Personnel expenses |
(3,810)
|
(2,632)
|
| External expenses | (2,560) | (1,268) |
Operating profit (loss) |
(3,634) |
(2,533) |
| Net financial profit (loss) | (37) | 86 |
Net profit (loss) |
(3,657) |
(2,475) |
2016 half-yearly results: doubling of revenues and reinforced structure in the United States
MEDIAN Technologies generated €2.9 million in revenues in the first half of 2016, twice the amount from a year earlier. This strong performance reflects sustained business activity in the clinical trials market.
Personnel expenses rose, reflecting a reinforced workforce as new recruits were added over the past year in anticipation of the company’s future growth.
External expenses increased in line with revenue growth, helping to sustain the growth in business and cover costs linked to new order intake.
Over the period, MEDIAN Technologies took measures to reinforce its operational capacities in the United States in an effort to consolidate its position in the management of medical imaging projects for clinical trials.
Alongside these developments, in the first half of 2016 MEDIAN recorded an operating loss of -€3.6 million and a net loss of -€3.7 million, in line with the company’s expectations.
As of June 30, 2016, MEDIAN Technologies had a solid balance sheet and €26.5 million in net cash. Its equity amounted to €23.0 million.
Outlook: sustained sales momentum
MEDIAN Technologies’ reinforced presence on the clinical trials market enables the company to pursue its expansion policy, targeting new clients among Big Pharma and biotech companies.
As of June 30, 2016, MEDIAN Technologies’ order backlog* stood at €21 million, compared to €18 million one year earlier, representing a growth of 17%. The order backlog was stable from 31 December 2015, as some contracts were cancelled following internal restructuring by one of MEDIAN’s clients. This cancellation was offset by new businesses.
The half-yearly financial report is available on the company’s website:mediantechnologies.com
Financial calendar: Publication of 2016 annual results – April 12, 2017
(*) Order backlog refers to customer orders that have been received but not yet invoiced.