News Feed Item

Getinge Group: Getinge Announces Outlook for First Quarter 2014

Getinge (STO:GETIB):

Medical Systems business area makes significant investments in quality management system

As announced earlier, the Medical Systems business area is currently implementing significant efforts to strengthen its quality management system. The measures are the result of observations received in connection with several inspections by the US Food and Drug Administration (FDA) during the second half of 2013 and the business area’s own internal evaluations and observations.

External consultants have been retained to enhance the quality management system for the business area at its manufacturing facilities around the world. The costs of consultant support for both the business area management and the manufacturing units affected are expected to amount to approximately SEK 125 million per quarter from the first quarter of 2014. Consulting costs are anticipated to remain for a period of six to seven quarters and will be reported separately in future.

Outlook for the first quarter of the year

As well as the additional costs related to the strengthening of Medical Systems’ quality management system, the profit trend for the current quarter will be weak due to a lower level of invoicing. Getinge’s invoicing varies considerably between the quarters due to customers’ requests regarding the timing of deliveries of ordered capital goods, which represent about 50% of Getinge’s sales. In addition to the weak invoicing for capital goods during the quarter, the Cardiovascular division was impacted by disruptions to production resulting from a change in raw materials specification from a subcontractor. The negative earnings effect of the production disruption is estimated to amount to approximately SEK 60 million.

Taking into consideration the above and the more challenging currency situation, it is estimated that Getinge’s pretax profit for the first quarter will amount to approximately SEK 160 million (252).

Apart from the additional costs resulting from the strengthening of the quality management system in Medical Systems and SEK 60 million pertaining to the disruptions to production in the Cardiovascular division, the outlook presented in the most recent Year-end Report stands firm.

This announcement will be followed by a conference call at 11.00 AM CET today, hosted by Johan Malmquist, CEO Getinge Group and Ulf Grunander, CFO Getinge Group.

Getinge will issue its full Q1 report for 2014 on April 16.

Conference Call

To participate, please call:

Sweden: +46 (0)8 5065 3936 UK: +44 (0)20 3427 1909 US: +1 212 444 0896 Passcode: 2729511


10.45 Call the conference number 11.00 Introduction 11.10 Q&A12.00 End of conference

A recorded version of the conference will be accessible for five working days at the following number:

Sweden: +46 (0)8 5051 3897 UK: +44 (0)20 3427 0598 US: +1 347 366 9565 Passcode: 2729511

The Getinge Group is a global leading medical technology company that operates in the areas of surgery, intensive care, infection control, care ergonomics and wound care. The Group is divided into three business areas: Medical Systems, Extended Care and Infection Control and operates under the brands ArjoHuntleigh, Getinge and Maquet.

This information was brought to you by Cision http://news.cision.com

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER give you detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPO also offers s...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.