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Carl Zeiss Meditec reports 6.1% rise in consolidated revenue in second quarter

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JENA, Germany — Carl Zeiss Meditec reported Euro 299.4 million in consolidated revenue for the second quarter of 2007-2008, a 6.1% increase compared with Euro 282.1 million for the second quarter of 2006-2007, according to a press release from the company.

For the first half of its fiscal year, earnings before interest and tax (EBIT) totaled Euro 33.6 million, up 1.8% from Euro 33 million during the same period last year. The EBIT margin remained relatively stable at 11.2%, compared to 11.7% for the same period last year.

Carl Zeiss Meditec's ophthalmic systems strategic business unit — which accounted for 45.3% of the company's total consolidated revenue in its first half — generated Euro 135.7 million in consolidated revenue, a 6.8% decline from Euro 145.6 million during the same period last year. The deficit may be attributed to the influence of foreign exchange rates, as well as unfavorable economic conditions in the U.S. market, the release said.

The company's surgical ophthalmology business unit posted Euro 38 million in consolidated revenue for the first half of its year, a 47.8% rise over Euro 25.7 million for the first half last year. In addition to the positive performance of new products, the revenue spike is partially due to the initial consolidation of Acri.Tec AG, which accounted for 12.7% of the company's consolidated revenue, compared with 9.1% for the same period last year.

During the first half, the Europe, Middle East and Africa region became the company's strongest sales constituency, with consolidated revenues rising 21.3% to Euro 101.2 million. In addition to the first-time consolidation of Acri.Tec AG, the company attributed the revenue rise in this region to growing returns from innovative diagnostic systems, surgical microscopes and IOLs.

Consolidated revenue in the Americas region totaled Euro 100.5 million during the first half, an 18.4% decline from Euro 123 million for the same period last year. The company attributed the deficit to the negative impact of exchange rate trends between the U.S. dollar and the Euro, as well as the reluctance of investors in the U.S. market.

Consolidated revenue in the Asia-Pacific region increased 26% to Euro 71.8 million for the first half.

Despite the negative impact of foreign exchange rates, Carl Zeiss Meditec expects to post between Euro 600 million and Euro 620 million, with an EBIT profit margin between 11% and 12%, for the financial year 2007-2008, according to the release.