Crucell Posts Unexpected Q1 Profit

Dutch biotech firm Crucell reported a surprise Q1 profit, its third in a row, on strong sales of paediatric vaccines and the company, widely viewed as a takeover target, reiterated its outlook. Net profit for the period was €200,000, beating the average estimate of a
€3 million loss from a Reuter's poll of seven analysts. Last year, the company reported a net loss of €9 million. Crucell said Q1 sales rose 54 % to
€73.7 million and it reiterated its 2009 guidance of a 20 % increase in ­re­venues in constant currencies and a significant improvement in operating profit compared with 2008.