EKTAF - Elekta: Blame It On Unity
Elekta AB (EKTAF) posted a disappointing 2Q19 with order flow and EBITDA both missing consensus by 4% and 5%, respectively. Management blamed the results on an operational mishap (delay in finalization of the orders' details) that led to the recording of no Unity (MRI-LINAC technology) orders during the quarter. Elekta saw a drop of 41% in US orders as operations failed to renew the US service contracts on time.
Despite the negative vibes that this operational mishap might send to investors, management thinks this should be temporary with the resolution set for 3Q19