Sectra reported "unusually" strong financial numbers for the first quarter of the 2021 fiscal year, based on earlier-than-expected product deliveries to the U.S.
The company's net sales for the first quarter increased 35.7% to 405.7 million SEK ($47.5 million U.S.). The increase was especially pronounced given "unusually weak" numbers in the first quarter of 2020, during the first phase of the COVID-19 pandemic.
The company's recurring revenue accounted for 253 million SEK ($29.6 million) of sales for the quarter, up 14.8%. Based on unadjusted exchange rates, the increase was 16.3%.
The company's profit before tax was 92.1 million SEK ($10.8 million).
Company leaders said the strong quarter can be attributed to some earlier-than-planned deliveries made to the U.S., which raised the company's operating profit to 90.1 million SEK ($10.5 million). They also said the strong start to the year is not expected to affect the company's outcome for the fiscal year as a whole.