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CompuGroup Medical reports third quarter 2013 results
The doctor and dental software business in Europe had a good third quarter with 9 percent year-on-year organic growth at constant exchange rates. The pharmacy software business also performed well, with product sales and order bookings reaching record highs at the Expopharm trade fair in Germany and the first time revenue contribution from the newly acquired pharmacy software business in Italy. Year-on-year organic growth in the hospital business was 7 percent, which is a significant improvement compared to the first half of the year.
For the business in the United States, the trend with declining revenue seen at the beginning of the year continued in the third quarter. On a positive note, the sales and order bookings in the United States were higher in the third quarter compared to the same period last year. As expected in Health Connectivity Services, changes in the regulatory environment in Germany reduced revenue in the third quarter by 4 percent compared to last year.
In terms of operating profit, consolidated EBITDA amounted to EUR 25.3 million compared to EUR 25.6 million in 2012. The operating margin of 23 percent was one percent point lower than last year.
"In the third quarter this year we have restored the profitability level achieved last year and we will continue to work hard to further improve our growth and earnings power in the coming periods", stated Frank Gotthardt, CEO and Chairman of the Board of CompuGroup Medical AG.
CompuGroup Medical reaffirms the 2013 outlook presented in the financial report for the second quarter 2013 with full year group revenue expected to be in the range of EUR 458 million to EUR 463 million and operating income (EBITDA) expected to be in the range of EUR 97 million to EUR 100 million.
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