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The Tecan Group which is active in the area of laboratory automation and is headquartered in Hombrechtikon (Zurich) continued to grow in the first nine months of 1999 and exceeded its own sales forecasts. Compared with the previous year, sales were up in Swiss Francs by 17.0% to 136.8 million (+15.6% in local currency). Tecan is expected to meet or exceed the sales and profit targets for the full 1999 financial year.
Total sales for the first nine months of 1999 were CHF 136.8 m compared to CHF 117.0 m in the same period of last year. This is equivalent to a rise of 17.0% (15.6% in local currency).
Growth was experienced in all geographical markets. Stronger demand, particularly from North America, made a crucial contribution to growth in the third quarter. This market saw the introduction of the first fully automated system for preparing DNA samples.
Given the good results in the past quarter and the continuing positive sales trend, Tecan is forecasting that sales volumes for the full 1999 financial year will be up by around 10% to 15% (original estimate +10%). Sales estimates for the 4th quarter are, however, made difficult by the fact that some customers may decide to postpone planned laboratory installations until the new year because of the millennium bug issue. Net earnings for the 1999 financial year should rise in line with sales.