Seneffe - Belgium, May 3, 2011, IBt Bebig (Reuters: IBTH.BR - Bloomberg: IBTB BB) has announced today its Trading Update for the first quarter 2011 ending March 31, 2011.
The Trading Update report including the milestones of the first quarter 2011 and a selection of consolidated key figures for the 3 months ending March 31, 2011 can be downloaded at:
http://www.ibt-bebig.eu/en/investor_relations/financial_reports/interim_results.html

Sales for the first quarter 2011 reached EUR 6.7 million, compared to EUR 6.3 million in 2010, showing an increase of 5.4%. The main components were income generated by the sales of permanent brachytherapy I-125 radiotherapeutic implants as well as income from temporary brachytherapy equipment, i.e. HDR equipment using Co-60 (Cobalt 60) and Ir-192 (Iridium 192) sources (also called "afterloaders").

Earnings before interests and taxes (EBIT) reached EUR 0.7 million for the first 3 months of 2011 compared to EUR 0.8 million for the same period of 2010. The profitability has been burdened by the extraordinary costs incurred in connection with the tentative takeover bid of Theragenics Corp.

Net income reached EUR 0.3 million compared to a net income of EUR 0.8 million for the first quarter of 2010. The first quarter 2011 net income includes for the first time the use of activated tax assets, whereas non-activated tax assets were used in previous years. In addition, provisions for EUR 0.13 million are recorded for components of the contract related to the purchase of SonoTECH, which are not tax deductible. For this year 2011, IBt Bebig expects to increase these contractual provisions to a value of EUR 0.5 million.

Total Equity of the group stood at EUR 37.8 million on March 31, 2011 versus EUR 34.3 million a year earlier.

IBt Bebig continued to maintain a solid financial situation, with cash amounting to EUR 3.1 million at the end of March 2011, versus EUR 9.1 million a year earlier.