Sweden-based nuclear technology company Studsvik’s sales rose by 10.6 percent year over year in the first quarter of 2016, according to the company earnings report Monday.
Sales increased from 156.8 Swedish krona (SEK) ($19.4 million) in first-quarter 2015 to 171.6 million SEK ($21.2 million) in the same time span this year, the report shows. According to the report, the company’s profit per share after tax was recorded at .72 SEK, up from -.29 SEK in the first quarter 2015.
Operating profit improved from a 1.7 million SEK ($210,000) loss in first quarter 2015 to 10.7 million SEK ($1.3 million) in 2016. Free cash flow for the company now stands at -2.2 million SEK (-$272,000), up from -4.8 million SEK (-$593,000) in first quarter 2015.
A company of 800 employees across seven countries, Studsvik provides waste treatment, consultancy, and fuel and materials technology services in the nuclear industry.
The report touches on the April sale of Studsvik’s waste treatment business to French state-owned power company EDF SA for 355 million SEK ($44 million). According to the Studsvik report, the transaction will generate a positive cash flow of about 225 million SEK ($28 million), and produce a net result of about 115 million SEK ($14.2 million), which is expected in the third quarter.