MeVis Medical Solutions AG

Earnings Release • Feb 17, 2009

News Details

Ad-hoc | 17 February 2009 20:13

MeVis Medical Solutions AG releasing preliminary figures for 2008

MeVis Medical Solutions AG / Final Results/Preliminary Results

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Bremen, 17th February 2009 – MeVis Medical Solutions AG [ISIN:
DE000A0LBFE4], a leading company in the development of disease-oriented
software solutions for image-based medicine, achieved consolidated revenues
in fiscal year 2008 of approximately EUR 10.7 million (previous year: EUR
7.9 million) with consolidated EBIT of approximately EUR 1.0 million
(previous year: EUR 0.5 million), according to preliminary results. Due to
the increased financial result in fiscal year 2008, the preliminary net
profit before tax amounts to approximately EUR 2.0 million (previous year:
EUR 0.5 million).

The surge in revenues of 36 percent over the previous year (27 percent
adjusted for acquisitions) was largely due to the market-leading position
of several core products as well as the good market acceptance of several
newly released products of the company. Nevertheless, overall revenues did
not meet the company’s expectations as revenue growth slowed to 22 percent
during the fourth quarter. The primary reason for this shortfall was a
significant investment restraint on the part of clinical end-users at
year-end in the important US market, where MeVis generates approximately 80
percent of consolidated revenues.

The EBIT margin of approximately 10 percent in 2008 (previous year: 6.3
percent) did not meet the company’s expectations. In addition to the
slow-down in revenue growth, which has a direct impact on EBIT, company
earnings were burdened by high non-recurring legal and consulting expenses
associated with the acquisition of the Hologic business from MeVis
BreastCare in the fourth quarter. Furthermore the market introduction of
the DynaSuite Neuro™ software application has led to a decrease in the
activation of personnel expenses in the fourth quarter.

Against the backdrop of difficult market conditions, the Executive Board
withdraws the forecast for fiscal year 2009 which was given in October
2008. Given the major uncertainties in the US-market, a reliable outlook is
not deemed feasible at this time. However, considering the continuous
expansion of the company's product portfolio, the Executive Board is
convinced that revenues and earnings in 2009 will significantly exceed the
results of the previous year.

The company is still in the process of preparing the financial statements.
Therefore, variations may occur on the preliminary figures for the previous
fiscal year. The final, audited and certified financial figures for 2008
will be released on April 28th, as scheduled.
17.02.2009 Financial News transmitted by DGAP

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Language: English
Issuer: MeVis Medical Solutions AG
Universitätsallee 29
28359 Bremen
Deutschland
Phone: +49 421 330 74-0
Fax: +49 421 330 74-50
E-mail: ir@mevis.de
Internet: http://www.mevis.de
ISIN: DE000A0LBFE4
WKN: A0LBFE
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart

End of News DGAP News-Service

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