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C-RAD AB: Interim report January-June 2011




C-RAD AB (publ), Interim report 1 January- 30 June 2011




Key events during first quarter

  • 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
  • Agreement has been signed with Christie NHS Foundation Trust in Manchester for clinical evaluation of the Sentinel system
  • Introduction of the Catalyst system at the ESTRO conference in London
  • Introduction of the C-RAD product program in German speaking countries
  • A new president at C-RAD Positioning AB
  • Cooperation agreement signed with Skåne University Hospital and a first order of Catalyst systems
  • Sales increase with 71% to 7,9 MSEK (4,6 MSEK)
  • Bookings of 9,2 MSEK (8,2 MSEK)
  • Loss after tax of – 13 743 kSEK (- 6 785 kSEK)
  • Earnings per share after tax of -1,12 SEK (- 0,48 SEK)
  • Operating loss of -13 540 kSEK (-6 015 kSEK)
  • Equity ratio of 68 % (77 %)
  • Cash of 4 110 kSEK (11 801 kSEK)
  • Numbers of employees were 21 (19).


            Key events after the close of the reporting period

  • A great interest for the C-RAD product program at the AAPM meeting in Vancover
  • Installation of the first two Catalyst systems
  • A research agreement signed with Elekta


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

“Bookings and sales has developed as expected during the first six months of the year. The radiation therapy clinics are usually placing their orders at the end of the year. The deteriorated operating loss, despite the increased sale, is further commented upon in this report under section Financial performance.


The most important event has been the presentation of the new Catalyst system at the physics meetings in London, Wiesbaden and Vancouver. The interest has been enormous for the C-RAD program and especially the newly developed Catalyst system with unique performances for inter activity and with algorithms, that consider the changes in the contour of the patient. The system is working in real time and can also be used for detection of optical markers.”






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