MeVis records strong fiscal year, but challenges loom

By AuntMinnieEurope.com staff writers

January 24, 2018 -- Thanks to performance in its other diagnostics segment, medical imaging software developer MeVis Medical Solutions recorded strong revenue in its 2016/2017 fiscal year.

For the period (end-30 September), MeVis had 18.5 million euros in revenues, well above the 12.1 million euros booked for the short fiscal year (nine months) of 2016. The increase was primarily attributed to a one-time, 1.6 million euro sale for extensive usage rights to the MeVisLab tool in developing software prototypes, according to the vendor.

MeVis had 2016/2017 net income of 5.6 million euros, compared with net income of 3.4 million in the first nine months of 2016. While the 2016/2017 fiscal year was very successful for MeVis, the company's medium-term and long-term prospects for the future are significantly clouded due to a change in cooperation initiated by Hologic and the expected decline in sales in its digital mammography segment, said CEO Marcus Kirchoff in a statement

As a result, MeVis expects revenues in the 2017/2018 fiscal year will significantly decline to range between 14.5 million to 15 million euros, mainly due to declining business expectations for the digital mammography segment. Earnings before financial result and taxes (EBIT) are also expected to drop significantly to reach only 3 million to 3.5 million euros, according to the vendor.

On the bright side, Kirchoff said sales in its cloud-based solutions and MeVis Online Services are developing positively. The company has also signed on radiation therapy vendor Varian Medical Systems as a new customer.


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