UMS United Medical Systems International AG: Positive course of business after the first nine months of 2012
Earnings per share up 19% to 43 cents
The Urology and Radiology segments were once more the major drivers of the quarterly revenue growth. Business in the Gynecology segment, by contrast, was sluggish. Gross profit advanced 9% to EUR5.1 million, following EUR4.7 million the same period a year ago.
Earnings before interest and taxes (EBIT) went from EUR3.0 million in the third quarter of last year to EUR2.8 million this year, for a decrease of 7%. It should be noted, however, that UMS AG charged EUR0.4 million in one-time, extraordinary expenses relating to other accounting periods to its third-quarter income statement for 2012. As previously reported, it did so because of the new findings relating to taxation of the dividends it paid for 2009 and 2010. Without this one-time effect, third-quarter EBIT would have exceeded the prior year by 7% at EUR3.2 million. Altogether, EBIT climbed by 10% to EUR9.6 million in the first nine months of 2012, following EUR8.7 million after the first three quarters of 2011. The gross profit over this period went from EUR13.5 million to EUR15.8 million, for an increase of 17%.
In light of the ongoing challenges in the Gynecology segment, the Management Board predicts that the Company will come in on the lower end of its targeted earnings of 60 cents to 70 cents per share this year. Of note, it will continue its shareholder-friendly dividend policy in 2012, provided that the exchange rate for the U.S. dollar does not weaken substantially. For fiscal years 2010 and 2011, UMS AG paid a dividend of 50 cents per share.
'On the basis of the positive course of business in the first nine months, we are confident that we will reach our goals for the full 2012 fiscal year,' says Jorgen Madsen, CEO of UMS AG. 'In addition, we intend to pay our shareholders another attractive dividend.'
The complete report for the third quarter and first nine months of 2012 is available as a PDF file in German and English on the Company's website at www.umsag.com.
UMS United Medical Systems International AG
UMS International AG is a provider of innovative healthcare delivery concepts in the growth segment of high-tech medicine. UMS pioneered the mobile deployment of med-tech systems and markets a comprehensive range of full-service solutions for hospitals and specialists. The forward-looking concepts include complete services for the customer, covering everything from system management to the provision of trained application specialists. The UMS Group currently has around 200 employees worldwide and serves over 600 customers.