Results 4th quarter and full year 2009
Oslo, Norway, February 19, 2010
Photocure ASA (Oslo Stock Exchange: PHO) today presents its results for the fourth quarter 2009 and for the full year 2009. A presentation will take place today in Oslo, Norway, beginning at 11.30 am (CET) and webcast through the Company's website www.photocure.no.
The main items in the report are:
Highlights for the fourth quarter 2009
(2008 figures in brackets)
· The divestment of Metvix®/Aktilite® in September 2009 changes the earnings profile and improves the financial position of the company.
· Photocure's strategy is to build a Specialty Pharma company.
· Hexvix® received positive feedback from FDA on 30 December, 2009.
· Revenue of NOK 14.6 million (33.2) in the fourth quarter and NOK 98.8 million in 2009 (100.9)
· Net result of NOK -19.1 million (-9.2) in the fourth quarter 2009, and NOK 316.6 million in 2009 (-59.6)
· Paid dividend of NOK 4 per share in December, 2009
· Cash holding of NOK 403.5 million per 31 December, 2009
Key figures
| Figures in NOK '000 | 4th quarter 2009 | 4th quarter 2008 | 2009 | 2008 |
| Revenues | 14 556 | 33 190 | 98 798 | 102 220 |
| Gross profit | 12 460 | 27 277 | 83 329 | 83 147 |
| Research and development costs | - 27 289 | - 25 505 | - 79 492 | - 78 341 |
| Sales and marketing costs | - 8 012 | - 12 559 | - 41 640 | - 45 916 |
| Operating result (EBIT) | - 29 918 | - 14 469 | - 59 943 | - 62 539 |
| Result | - 19 105 | -9 246 | 316 574 | - 59 562 |
| Earnings per share, diluted (NOK) | - 1.01 | - 0.42 | 14.15 | - 2.70 |
Please see the full report attached.
For further information, contact:
Attn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO)
Kjetil Hestdal mobile +47 913 19 535 - Christian Fekete mobile +47 916 42 938
E-mail: kh@photocure.no or cf@photocure.no