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C-RAD AB: Interim report 1 January-30 September 2011

Key events during the period

Key events during the period

  • IBA Dosimetry has placed a frame order of 4,8 MSEK to C-RAD Imaging AB for deliveries of 1 600 diode detectors in 2011
  • An agreement has been signed with Paracelsus Medical University at the University Clinic Salzburg, Austria to clinically integrate the C-RAD GEMini ED imaging detector
  • Introduction of the Catalyst system at the ESTRO conference in London
  • Introduction of the C-RAD product program in German speaking countries
  • Cooperation agreement signed with Skåne University Hospital and a first order of Catalyst systems
  • A great interest for the C-RAD product program at the AAPM and ASTRO meetings
  • A research agreement has been signed with Elekta
  • Sales of 11,2 MSEK kSEK (10,0 MSEK)
  • Bookings of 10,9 MSEK
  • Profit after tax of – 17 6885 kSEK (-6 618 kSEK)
  • Earnings per share after tax of -1,44 SEK (- 0,54 SEK)
  • Operating loss of -17 336 kSEK (-5 773 kSEK)
  • Equity ratio of 62 % (78 %)
  • Cash of 2 361 kSEK (19 004 kSEK)
  • Numbers of employees were 21 (19).


            Key events after the close of the reporting period

  • A letter of intent has been signed to develop a detector based on the GEMini technology
  • Six Catalyst systems have been installed
  • The C-RAD new share issue with preferential rights was oversubscribed by 65%
  • New convertible loans will be signed by Norrlandsfonden


Comments by Erik Hedlund, president of C-RAD AB.

“The financial turbulences have had a limited effect on the radiation therapy market. However many projects have been delayed until end of the year. Some ongoing projects and expected sales will first be effected in the beginning of 2012. C-RAD has a strong position with three introduced systems especially developed for use in advanced radiation therapy.

Since November the so called MMI interface for communication with the C-RAD Catalyst system has been included in the Varian price list. It is an important milestone for C-RAD to be able to offer an integrated solution for auto set and respiratory gating to Varian customers. In December working interfaces will be available to CT systems of four different vendors.”



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