Tecan announces financial results for the first half of 2014 as well as successes in product and corporate development - Seite 2

We achieved important progress in our development programs. A particular highlight was the launch of Fluent, the next generation of liquid handling platforms in our Life Sciences Business. After close of the reporting period, we were able to successfully complete the acquisition of IBL International. As part of our strategy, this acquisition marks an important step towards offering fully integrated solutions, including reagents, and thereby adding a new source of recurring revenues," Martyr continued.

Financial results first half of 2014
Order entry increased by 6.8% in local currencies to CHF 196.6 million (H1 2013: CHF 189.2 million) in the first six months of the year, corresponding to growth of 3.9% in Swiss francs. Growth in order entry was driven by a double-digit increase in the Life Sciences Business. As a result, order backlog at the end of the reporting period recorded a double-digit increase for the Group.
Sales reached CHF 172.0 million (H1 2013: CHF 181.8 million) and were therefore 2.7% below the prior-year level in local currency terms and 5.4% lower in Swiss francs. The performance of the two business segments again differed considerably. While sales in the Life Sciences Business recovered strongly and increased by 7.2% in local currencies, those in the Partnering Business were 13.9% below the prior-year level due to the timing of orders from two large corporate customers and a slowdown in Components sales versus a tough comparison from the first half of 2013.

Operating profit (EBIT) reached CHF 22.3 million in the first half of 2014 (H1 2013: CHF 23.1 million). The operating profit margin improved by 30 basis points to 13.0% of sales (H1 2013: 12.7%), helped by lower net research and development expenses mainly due to increased capitalization of costs as projects near market launch. Exchange rate movements in major currencies versus the Swiss franc had a negative impact on the operating result. Assuming exchange rates in line with the prior-year period, the operating profit would have reached CHF 24.1 million while the operating profit margin would have stood at 13.6% of sales. Net profit increased by 12.8% and amounted to CHF 18.6 million (H1 2013: CHF 16.5 million) in the first six months of the year. The net profit margin improved by 170 basis points to 10.8% of sales (H1 2013: 9.1%). Earnings per share increased to CHF 1.68 (H1 2013: CHF 1.51). Cash flow from operating activities rose to CHF 16.2 million (H1 2013: CHF 5.5 million). Excluding an OEM development project that Tecan is prefinancing, cash flow from operating activities amounted to CHF 28.9 million (H1 2013: CHF 28.4 million).