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RaySearch : Laboratories INTERIM REPORT JANUARY 1 - MARCH 31 , 2021 " In the first quarter of 2021 , net sales declined 22 percent due to lower license sales . Recurring support revenue rose 7 percent and accounts for 38 percent [ 28 ] of net sales . Operating profit totaled SEK 12 M ( 52 ) and cash flow was SEK 33 M ( -4 ) . ” FIRST QUARTER ( JANUARY - MARCH 2021 ) Order intake SEK 145.1 M ( 300.0 ) Net sales SEK 162.1 M ( 208.9 ) Operating profit SEK 12.3 M ( 51.6 ) Profit after tax SEK 7.1 M ( 40.5 ) Earnings per share before / after dilution SEK 0.21 ( 1.18 ) Cash flow SEK 32.8 M ( -4.2 ) Order backlog SEK 1,207.1 M ( 1,281.5 ) at the end of the period ● SIGNIFICANT EVENTS DURING THE FIRST QUARTER The RayStation® treatment planning system was sold to more leading cancer centers , including Legacy Cancer Institute in the US , the University Hospital in Krakow , Poland , Osaka City University Hospital and Kumamoto University Hospital in Japan . In addition , Inova Schar Cancer Institute in the US and Radiumhospitalet at Oslo University Hospital in Norway expanded their existing RayStation installations . In March , the Parent Company issued a short - term loan of SEK 200,000 to Vinstandelsstiftelsen RayFoundation on commercial terms . A wholly owned subsidiary has been established in Australia . THE COVID - 19 PANDEMIC The COVID - 19 pandemic with temporary reprioritisations in healthcare had a negative impact on sales in the first quarter . The market situation is gradually improving in line with the vaccine rollout and the recovery is expected to continue . At the same time , coronavirus cases are rising in some regions and it is unclear how long it will take before the vaccination program has an effect . RaySearch therefore expects that the negative effects of the COVID - 19 pandemic on the company's sales and earnings will continue for some months to come , mainly because orders may be delayed , but that the pandemic's effects on sales and earnings are expected to gradually diminish in 2021 . SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD In March 2021 , RaySearch breached an EBITDA - based covenant in the company's credit facility agreement with Skandinaviska Enskilda Banken ( publ ) ( SEB ) with a credit limit of SEK 350 M , of which SEK 50 M was utilized . In April , SEB subsequently demanded repayment of the utilized SEK 50 M. However , the credit facility will be available for drawing as soon as the company once again meets all covenants contained in the agreement . FINANCIAL SUMMARY¹ A sales agent agreement has been signed with Canon Medical Systems USA , Inc. , enabling RaySearch's salesforce in North America to promote Canon Medical's Aquilion Lare Bore CT and Celesteion PET / CT products . AMOUNTS IN SEK 000s Net sales Operating profit / loss Operating margin , % Profit / loss for the period Earnings / loss per share before / after dilution , SEK Cash flow from operating activities Cash flow for the period Return on equity , % Equity / assets ratio , % at the end of the period Share price at the end of the period , SEK ¹ For definitions of key ratios , see page 18 . JAN - MAR ADVANCING CANCER TREATMENT 2021 162,102 12,261 7.6 7,110 0.21 104,332 32,840 1.0 52.7 89.5 Johan Löf , CEO of RaySearch . 2020 208,889 51,557 24.7 40,462 1.18 66,074 -4,244 5.5 55.8 57.6 APR 2020 MAR 2021 604,825 -42,762 -7.1 -42,432 -1.24 294,976 -6.0 52.7 82.7 FULL - YEAR 2020 651,612 -3,466 -0.5 -9,080 -0.26 331,508 61,890 -1.3 54 82.7