biolitec AG achieved consolidated revenue of Euro 7.4 million for the first three months of the fiscal year 2008/2009 - EBIT amounts to Euro 0.5 million

(PresseBox) (Jena, ) biolitec AG, Jena, listed in the Prime Standard of the Frankfurt stock exchange (ISIN DE0005213409) posted a consolidated revenue of Euro 7.4 million for the first quarter of the fiscal year 2008/2009 The revenue slightly exceeded the turnover in Q4 of 07/08 indicating bottoming-out, as the summer quarter (Q1) is usually the company's lowest. Q1 of 07/08 included substantial shipments to a major US mobilizer, compared to that revenue was 20% lower.

The gross profit amounted to Euro 5.3 million (last fiscal year: Euro 6.6 million) and EBIT amounted to Euro 0.5 million (previous year: Euro 1.7 million). R&D expenditures for the first three months of the fiscal year 2008/2009 of Euro 1.1 million (14% of sales) remained at a high level to ensure the groups long term growth and profitability. Net income amounted to Euro 0.6 million (previous year: Euro 1.4 million) despite the continuous high R&D investments.

The revenue posted by the laser segment of Euro 2.4 million was lower than in the prior year mainly due to the market decline in the USA, in general and by the big order shipments in Q1 07/08. The fiber optics and laser probes segment contributed ¤ 4.6 million to the group's total revenue. Mainstays of sales are the LIFE(TM) BPH laser treatment and the Endoluminal Laser Treatment of Veins (ELVeS(TM) ). Foscan®, our head and neck cancer drug, received a major boost due to finalizing the deal with Bracco. It is now reimbursed unconditionally in Italy and has recently received Dutch reimbursement, France is expected to follow.

biolitec AG's major revenues were again generated in Europe and North America. With Euro 2.7 million, sales in North America were 43% lower than previous year's sales contributing 37% of total sales. European sales amounted to Euro 3.8 million (previous year: Euro 4.0 million). ROW increased 87% to ¤ 0.9 million indicating the companies international expansion starts to pay off. biolitec AG expects sales growth to pick up during the fiscal year. Staff levels were reduced and will result in reduced inventories and working capital in the coming quarters.

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