11/22/2018 | Press release | Distributed by Public on 11/22/2018 02:46
PAXMAN's strongest quarter to date
The Group's sales amounted to 39.6 (22.3) MSEK as of 30 September, of which 16.0 (8.3) MSEK in the third quarter of the year. Net loss totalled -2.8 (-6.7) MSEK as of 30 September, of which -0.3 (-1.7) MSEK refer to the period July - September. The group's operating entities made a profit for the second quarter in a row.
Earnings per share were -0.18 (-0.10) SEK for the first nine months of the year, of which -0.02 (-0.11) SEK refer to Q3.
Cash flow before financing activities was -13.8 (-15.3) MSEK for the first nine months of the year, of which -3.5 (-9.6) MSEK for the third quarter. In the period July - September, the Group's operating activities generated a positive cash flow.
Total assets amounted to 51.1 (50.0) MSEK on 30 September, and net liquid assets to -8.2 (11.7) MSEK. Equity to assets ratio was 58.4 (76.3) % at the end of the reporting period.
In the third quarter of 2018, PAXMAN informed that two among the company's largest shareholders had sold a total of 500,000 shares. Thereby, two of the company's other largest shareholders, Länsförsäkringar Blekinge and Länsförsäkringar Kalmar län, could strengthen their positions. Also in the third quarter, PAXMAN received its first order from TEVA in Mexico, totalling 17 scalp cooling systems to be installed at five different cancer centres.
No significant events have occurred after the reporting period.