Artimplant AB (STO:ARTIB):
Net revenue increased by 15 percentage points and amounted to SEK 21.1
The net loss after tax totaled SEK 16.5 million (17.9). This
represented an improvement in result of SEK 1.4 million compared to
the corresponding period the previous year.
Earnings per stock unit amounted to SEK -0.03 (-0.15).
The aim of achieving a positive cash flow before changes in working
capital on a monthly basis was moved forward to the second half of
2013 due to low sales growth in the USA. The sales development is
still weak and the impact of the litigations it is uncertain and
therefore the Board can at present not determine when the cash flow
will be positive.
The Board proposes that no dividend be paid for 2012.
The license agreement with Biomet Sportsmedicine was terminated in
The USA study of Artelon® Tissue Reinforcement for rotator cuff
injuries has been published. The study shows positive results with
regard to functioning of the shoulder and patients’ perceived improved
quality of life.
Net revenue amounted to SEK 5.5 million (4.0) an improvement with 1.5
MSEK. European sales increased by 247 percentage points and the US
sales by 25 percentage points compared to previous period.
The net loss after tax totaled SEK 6.4 million (6), a decreased by 0.4
MSEK compared to previous period due to higher legal costs in terms of
increased legal costs caused by the ongoing insurance dispute.
Earnings per stock unit amounted to SEK -0.01 (-0.05).
Preliminary positive results presented from a two-year study of
Artelon® CMC Spacer.
Events after the year-end
Artimplant prolongs its funding agreement regarding costs for trials
in USA and recovers previous legal costs of SEK 5 million.
Artimplant has requested arbitration in the insurance dispute.
The Company is in need of a capital injection, the Board has therefore
decided to review its strategic options
Further information is available at www.artimplant.com
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Artimplant is a biomaterials company focused on solutions to problems in
orthopedics. We restore health through the development, production and
marketing of degradable implants that regenerate body functions and
improve quality of life. Our products, made from Artelon®, meet unmet
clinical needs and are marketed in a growing number of therapy areas.
Artimplant produces implants for treatment of osteoarthritis in hands
and feet as well as shoulder and other soft tissue injuries.
Artimplant is a public company, listed on NASDAQ OMX Stockholm in the
Small Cap segment and in the healthcare sector.
This press release contains forward-looking statements as defined in the
U.S. Private Securities Litigation Reform Act of 1995. Readers are
cautioned not to place undue reliance on these forward-looking
statements. Actual results may differ materially from those indicated by
these forward-looking statements as a result of risks and uncertainties
impacting on the Company's business, including increased competition;
the ability of the Company to expand its operations and to attract and
retain qualified professionals; technological obsolescence; general
economic conditions; and other risks detailed from time to time in the
This is information that Artimplant will make public pursuant to the
Swedish Financial Instruments Act and the Swedish Securities Exchange
and Clearing Operations Act and/or stock market agreements. Information
was made available for publication on February 27, 2013 at 8:55 am
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