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C-RAD AB: Interim report 1 January-30 September 2012

Interim report 1 January-30 September 2012

Interim report 1 January-30 September 2012

C-RAD AB (publ)

Key events during the period

  • Sales for the period were 14,4 SEK ( 11,2 MSEK)
  • EBITA of -17,6 MSEK (-17,3 MSEK)
  • Loss after tax of -17,9 MSEK (- 17,7 MSEK)
  • An order back log of 15,7 (3,5) MSEK
  • Bookings for the period were 18,0 MSEK ( 10,9 MSEK)
  • Earnings per share after tax of -1,13 SEK (- 1,44 SEK)
  • Equity ratio of 49 % (62 %)
  • Cash of 5 393 kSEK (2 361 kSEK)
  • Numbers of employees were 22 (21)
  • IBA Dosimetry has for 2012 placed a frame order of 6, 1 MSEK. Due to quality problems at suppliers deliveries have been postponed until second half of the year.
  • C-RAD has received FDA clearance for its new Catalyst system and Sentinel with 4DCT
  • Interfaces for communication with Varian accelerators have been released
  • The C-RAD Sentinel system is available with interfaces to three major CT vendors
  • An agreement has been signed with Elekta within the field of respiratory gating
  • A patent has in the US been approved for C-RAD inter active technology
  • New sales offices and subsidiaries have been founded in Berlin and Shanghai
  • An agreement has been signed with Erik Penser Bankaktiebolag
  • Accumulated orders of five Sentinel systems from Elekta in China


Key events after the close of the reporting period

  • Orders of eight Catalyst and two Sentinel systems from Herlev Hospital outside of Copenhagen
  • A letter of intent regarding the GEMini system has been signed with Dutch company Cablon Medical.
  • A distribution agreement has been signed with the British company Vertec Scientific Ltd
  • The appeal court judged in favour of C-RAD in the dispute with the German company LAP



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

“Bookings and sales increased with 65% and 28% respectively, compared to last year.

 The C-RAD investment in a direct sales force is creating an increasing interest for the Sentinel, Catalyst and GEMini systems.

We see a strong growth in bookings, sales and cash-flow during last quarter of 2012. The positive trend is expected to continue next year”

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