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Carl Zeiss Meditec reports decline in U.S. sales, increased net income for first quarter
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JENA, Germany — Carl Zeiss Meditec reported consolidated revenue of Euro 141.8 million for the first quarter of 2007-2008, a 4.4% increase from Euro 135.8 million for the first quarter of the previous year, according to a press release from the company.
Due to "uncertainties" in the financial sector, medical device sales in the Americas region during the quarter totaled Euro 51.7 million, down 19.3% from Euro 64.1 million for the first quarter of 2006-2007. Earnings before interest and tax during the first quarter 2007-2008 were Euro 14.5 million, a 2.2% decline in EBIT from Euro 16.9 million during the same period last year, according to the release. Consolidated net income increased 14.2% to Euro 11.6 million for the quarter from Euro 10.1 million during the first quarter 2006-2007.
In contrast, sales in the European and Asia/Pacific regions increased by 24% and 25%, respectively; order intake over all regions increased by about 17% compared with the previous year.
"We currently assume that U.S. market weakness and, as a consequence, the hesitant investments by our customers in that region will be temporary. We therefore anticipate, based on current exchange rate levels, a consolidated revenue in the range between Euro 600 million and Euro 620 million and an EBIT margin of 11% to 12% for the financial year 2007-2008," Ulrich Krauss, Carl Zeiss Meditec AG president and CEO, said in the release.