STRATEC adjusts sales and earnings forecast for 2008

02-Oct-2008 - Germany

(dpa-afxp) Having received a binding purchase forecast from a major customer for the fourth quarter of 2008, the Board of Management of STRATEC Biomedical Systems AG, no longer expects to be able to achieve its sales and earnings targets in full for the 2008 financial year.

Based on the adjusted budget, the company expects to generate sales of more than Euro 60 million and earnings before taxes (EBT) of more than Euro 11.5 million in the 2008 financial year. The slight margin reduction is attributable to development expenses incurred now for analyzer systems due to be launched onto the market in coming years.

This adjustment to the sales and earnings forecast is the result of the customer's unexpectedly high volume of stock, which is currently being reduced and has therefore led to a loss of orders for the final quarter. The unexpectedly high volume of stock is in turn attributable to this customer undergoing a phase of transition in connection with an acquisition. Neither the implications of the financial crisis nor the euro/dollar exchange rate played any role in the adjustment to the sales and earnings forecast for 2008.

Current purchase forecasts from this and other customers, coupled with the pending market launch of systems currently in the final stages of the development pipeline, mean that there is substantial growth potential from 2009 onwards. STRATEC therefore expects to be able to achieve its previously published average annual growth rates (CAGR 2009 - 2011) of more than 11% for sales and more than 18% for earnings before taxes (EBT). In particular, considerably stronger growth is now expected for 2009 given this reduction in the estimates for 2008.

https://www.bionity.com/en/news/87706/stratec-adjusts-sales-and-earnings-forecast-for-2008.html