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Carl Zeiss Meditec 9 Month Results Up, Sees Strong Results In FY19; Stock Up

Shares of Carl Zeiss Meditec AG (CZMWF.PK) were gaining around 3 percent after the German manufacturer of optical systems reported Monday said it expects strong earnings for fiscal 2019 with revenue at the upper end of its forecast. For its first nine months, the company reported higher preliminary results.

For the nine-month period, earnings per share surged to 1.22 euros from previous year's 0.92 euro. Earnings before interest and taxes or EBIT would amount to around 184 million euros, up from 134.8 million euros last year. EBIT margin is approximately 17.9 percent, up from previous year's 14.6 percent.

The company recorded revenue of around 1.03 billion euros, a growth of 11 percent from previous year's 926.3 million euros. After adjustment for currency effects, revenue growth was about 9 percent.

For fiscal year 2019, Carl Zeiss now expects revenue at the upper end of the previous forecast range of 1.35 billion euros to 1.42 billion euros. Due to the strong current trend, EBIT margin is expected to exceed the previous forecast range of 15.0 percent to 17.5 percent.

The nine months quarterly statement for fiscal year 2019 will be published on August 9.

In Germany, Carl Zeiss Meditec shares were trading at 87.85 euros, up 3.41 percent.

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