Sectra reports Q1 increase on early U.S. deliveries

2020 02 20 17 57 8385 Sectra Rsna 2019 400

Sectra reported "unusually" strong financial numbers for the first quarter of the 2021 fiscal year, based on earlier-than-expected product deliveries to the U.S.

The company's net sales for the first quarter increased 35.7% to 405.7 million SEK (39.9 million euros). The increase was especially pronounced given "unusually weak" numbers in the first quarter of 2020, during the first phase of the COVID-19 pandemic.

The company's recurring revenue accounted for 253 million SEK (24.9 million euros) of sales for the quarter, up 14.8%. Based on unadjusted exchange rates, the increase was 16.3%.

The company's profit before tax was 92.1 million SEK (9 million euros).

Company leaders said the strong quarter can be attributed to some earlier-than-planned deliveries made to the U.S., which raised the company's operating profit to 90.1 million SEK (8.9 million euros). They also said the strong start to the year is not expected to affect the company's outcome for the fiscal year as a whole.

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