MeVis Medical Solutions AG reported earnings results for the fiscal year ended September 30, 2017. Revenues in fiscal year 2016/2017 amounted to EUR 18.5 million (compared to EUR 12.1 million in nine month in the short fiscal year 2016). The improvement in sales compared with the previous year is mainly attributable to the Other Diagnostics segment. A one-time effect, the sale of extensive usage rights to the MeVisLab tool for the development of software prototypes, amounting to EUR 1.8 million contributed mainly to this increase. In addition, regular business with a number of other products and services in the Other Diagnostics segment developed very positively, such as higher license sales of LungCAD and increased activities in MeVis Online Services. EBIT (earnings before financial result and taxes) of EUR 8.0 million was generated in 2016/2017, compared to EUR 4.0 million in the first nine months of 2016, which corresponds to an increase in the EBIT margin from 32% to 43%. The financial result of MeVis is significantly impacted by the exchange rate development of the USD between the reporting dates, as most of the available liquidity is held in USD. Due to the further weakening of the USD in the past fiscal year, expenses from exchange rate differences increased from EUR 0.5 million to EUR 1.5 million. The financial result was positively influenced by the very encouraging development of the company's joint venture with Siemens, MBC, whose prorated earnings rose sharply from EUR 0.07 million to EUR 0.5 million. This results in a net profit for the fiscal year 2016/2017 of EUR 5.6 million (30% margin), compared to EUR 3.4 million (28% margin) in 2016, which corresponds to undiluted earnings per share of EUR 3.09, compared to EUR 1.88 in 2016.

For fiscal year 2017/2018, the company expects a significant decline in revenues to between EUR 14.5 million and EUR 15.0 million, mainly due to the declining business expectations of the Digital Mammography segment. Earnings before financial result and taxes (EBIT) should also decline significantly to EUR 3.0 million to EUR 3.5 million as a result of the expected sales development.