Flat Q2 numbers delay Agfa's 'demerger' plan

Sales at Agfa HealthCare were flat in the second quarter (end-June 30), as the Mortsel, Belgium-based company's film segment declined, reflecting lower sales in the quarter.

Overall sales in the healthcare division remained stable at 365 million euros ($500 million U.S.) in the second quarter, compared with the same 365 million euros in the second quarter of 2006.

Agfa reported strong second-quarter sales of its hospital and clinical information systems, while radiology IT products, such as RIS, PACS, and computed radiography showed growth. The company was adversely affected by the decline in its film and print business. IT accounted for 35% of sales in the second quarter, compared with 31% in the year-ago quarter.

For the six-month period, sales dipped to 689 million euros ($943 million), compared with 699 million euros ($957.6 million) in the same period of 2006. CR and healthcare IT products fueled Agfa's sales.

Based on its second-quarter results, Agfa has postponed plans to divide into three companies -- Agfa HealthCare, Agfa Graphics, and Agfa Materials. The company will focus on operational improvements and delay its demerger until the first half of 2008.

By AuntMinnie.com staff writers
August 3, 2007

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