Sales growth and increased R&D efforts
ContextVision AB (OSE: COV), the medical imaging software company, today announced its fourth quarter and full year 2014 financial results. The Company saw sales growth both in the fourth quarter and for the full year, while the results were affected by increased research and development activities.
For the full year, ContextVision posted sales of SEK 64.4 million, up from SEK 61.3 million the previous year. Operating result ended at SEK 6.9 million, compared to SEK 6.2 million in 2013.
In the fourth quarter, ContextVision had sales of SEK 16.2 million, up from SEK 15.5 the previous year. Earnings before taxes were SEK 1.0 million, compared to SEK 3.7 million in 2013.
Throughout 2014 ContextVision increased its R&D spending significantly, in order to expand the Company’s product portfolio and market approach. Operating costs increased by 9 per cent for the full year, reflecting the Company’s efforts to develop new generations of software for medical imaging enhancement and analysis, as well as new applications for the software.
While ContextVision’s software covers all the various medical imaging technologies, the Company is particularly strong in the ultrasound segment, which is the fastest growing modality in the industry.
“ContextVision’s increased R&D efforts have provided new products and applications in 2014. These new products are expected to start generating additional revenue from the end of 2015. Additional products and upgrades being launched in 2015 are expected to further underpin our position as a global industry leader in our field,” said ContextVision CEO Anita Tollstadius.
Please find the report here
A video presentation by CEO Anita Tollstadius will follow on February 20:th.
Please follow the link: http://webbtv.nu/contextvisionq42014