The higher than anticipated first quarter sales growth was driven by very strong performances in Europe and the Americas where sales increased by 53% and 41% respectively.
Biacore says it continued to make progress in the first quarter of 2006.
Overall sales increased by 19% to SEK137.9 million (116.0).
The higher than anticipated first quarter sales growth was driven by very strong performances in Europe and the Americas where sales increased by 53% and 41% respectively.
Sales in Asia-Pacific declined.
Excluding the effect of exchange rates, sales grew by 13% in the first three months of 2006.
Operating income for the first quarter increased by 122% to SEK30.9 million (13.9).
This much improved operating performance was the result of the growth in sales, an improved gross margin and cost controls.
The operating margin in the first quarter was 22.4% (12.0).
Net income for the first three months of 2006 amounted to SEK18.9 million (12.0).
Diluted earnings per share were SEK1.93 (1.24).
Biacore still expects sales for the full-year 2006 to increase at approximately the same rate as in 2005.
Operating income for the full-year is expected to grow at a faster rate than sales.
As usual, the company's performance will vary between the quarters.
The previous forecast stated: "The outlook for 2006 is for Biacore's sales to increase at approximately the same rate as in 2005 with modest growth in the first quarter".
"The operating margin for the first half of the year may decline as the company further expands its sales and marketing infrastructure, yet it is expected to return to historic levels for the full-year 2006".
