Sectra adds sales, posts loss in FY11

Increased sales from new and existing customers helped Sectra grow revenue, but it was not enough to avoid a net operating loss in its 2011 fiscal year (end-April 29).

The PACS and digital mammography developer achieved a 7% gain with net sales of 910.9 million kronor ($143.9 million U.S.), compared with 848.4 million kronor ($134 million U.S.) in fiscal 2010.

The company posted a net operating loss of 8.1 million kronor ($1.3 million U.S.), compared with net income of 23.5 million kronor ($3.7 million U.S.) in the last fiscal year. Sectra blamed the loss, in part, on its product division and the strong Swedish currency. The company is working to reduce its production, installation, and upgrading costs.

In the fourth quarter of the 2011 fiscal year, net sales decreased to 228.2 million kronor ($36 million U.S.), compared with 255.4 million kronor ($40.3 million U.S.) in the same quarter of fiscal 2010. Operating profit was 1.7 million kronor ($269,000 U.S.), compared with 16.6 million kronor ($2.6 million U.S.) in the same quarter a year ago.