Össur Reports 1Q Financial Results

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Össur, Reykjavik, Iceland, announced sales growth of 19 percent in local currency in the first quarter (1Q) 2019 and organic sales growth of 8 percent. Other highlights include:

·        The prosthetics segment grew 10 percent organic and the bracing and supports segment grew 5 percent organic.

·        Gross profit margin was 64 percent compared to 62 percent in 1Q 2018.

·        The earnings before interest, taxes, depreciation, and amortization (EBITDA) margin was 19 percent compared to 14 percent in the comparable quarter.

·        Net profit grew by 37 percent and amounted to 9 percent of sales. Growth in diluted earnings per share was 38 percent.

·        Cash generated by operations was 10 percent compared to 4 percent of sales in the comparable quarter.

·        Össur acquired 985,364 of its own shares through the ongoing share buyback program for $5 million in 1Q.

·        Dividends corresponding to approximately $9 million or 11 percent of net profit in 2018 were paid out in March.

·        5,430,259 of its own shares with a nominal value of Icelandic Króna (ISK) 1 each were cancelled at the end of March. Össur's share capital is now ISK 425,377,804.

·        The financial guidance for the full year 2019 is unchanged.