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[News Story] Continued strong growth in Asia - Record Delivery to India

The quarter October-December 2011 *

Net sales amounted to MSEK 67.7 (67.0), representing an increase of 1.0 percent. Change in the exchange rate of USD and EUR affected negatively by SEK 1.3 million. Operating profit amounted to SEK 4.2 (3.5) Profit after tax amounted to MSEK 2.1 (2.6) Earnings per share amounted to SEK 0.45 (0.74)

Full year January-December 2011 *

Net sales amounted to MSEK 246.2 (229.4), representing an increase of 7.3 percent. The change in the exchange rate of USD and EUR affected negatively by MSEK 16.9 Operating profit amounted to SEK 17.2 (20.3). Operating income negatively impacted by the cost of listing with the SEK 1.8 Profit after tax amounted to MSEK 10.1 (18.9) Earnings per share amounted to SEK 2.48 (5.35)

Significant events during the fourth quarter of 2011

Record Delivery to India In December came Boules largest instrument orders, a total of 94 instruments distributor in India.

Sales holdings in associated companies Boule entered into an agreement to sell its holding in associated company Nordic Biolabs AB. The sale generated a capital gain of MSEK 1.1 and a positive liquidity effect on 5.0 million of which SEK 4.0 affects the 2011th The sale was December 28 2011th

Significant events after the reporting period

Completion of new plant A new plant for manufacturing of reagents in Sweden installed during late 2011 and early 2012. The first products from facility is scheduled to be delivered late in the first quarter. President's Message

Sales in 2011 rose by 7 percent over the previous year and amounted to 246.2 million, despite a change in exchange rates of USD and EUR affected negatively by MSEK 16.9. As always exhibit turnover periodic fluctuations based on customers' irregular buying patterns. This is offset to some extent that we have customers in over 100 countries.

Instrument Sales - which form the foundation of our systems - remained robust and grew by 19 percent for the year 2011th Sales of consumer goods increased slightly during the year, but we expect a higher rate of increase as a result of a growing installed base of instruments. Sales of systems on the human market performed well on our key markets, despite a year that was characterized by continued financial turmoil. Particularly gratifying sales in Asia and in the U.S. market, where we continues to show good growth and gain market share despite intense competition. Our new fempartssystem Quintus has also been well received, with strong demand for certain geographic markets. Sales of systems to the veterinary market declined slightly in the U.S. in 2011 but the underlying market remains stable. In Europe we have a slow but steady growth, which includes a new distributor in the French market have contributed to the increase in sales. In November 2011 participated Boule at Medica in Dusseldorf, one of the largest International medical trade fairs. We had meetings with a large number of existing and potential distributors. The trend of increasing interest to leasing scheme continues, which provides benefits for our reliable, closed system in the fierce competition that exists. We have also strengthened our leadership role by Fredrik Alpsten who has taken over as new CFO and Claes Blanche who was appointed as the new CEO of our Swedish subsidiary Boule Medical AB. Frederick Alpsten has many years experience in senior positions in both listed and private companies and Claes Blanche Among another great experience in the medical and sales through distributors in key markets in Europe, Middle East and Asia. This enhanced leadership, we are well equipped to meet the challenges of Boules continued growth. At the turn sold our remaining interest in the associate company Nordic Biolabs AB. Sale resulted in a positive liquidity effect of SEK 5 million of which 4 affects 2011 and a capital gain of SEK 1 million. The sale was completed realignment of the Boule Diagnostics AB, an international diagnostics company focusing on human and veterinary blood analysis.

Ernst Westman, MD, Boule Diagnostics AB

Source: NASDAQ OMX

Recent Trading

Boule Diagnostics AB (BOUL.STp) MCap is SEK183.6 million (US$27.6 million) at the last price of SEK39.0.

Currency Conversion: Swedish Krona SEK1= US$0.1505 [or US$1=SEK6.64]; Against the US$ the SEK rose 13.31 basis points (or 0.1%) for the day; added 1.4% for the week; increased 1.7% for the month; declined 2.8% in the past year. SEK1 = 100ores.

Source: www.BuySellSignals.com

Subject

COMPANY PROFITS (91%); FINANCIAL RESULTS (90%); AFTER TAX PROFIT (90%); COMPANY EARNINGS (90%); ANNUAL FINANCIAL RESULTS (90%); EARNINGS PER SHARE (89%); EXCHANGE RATES (89%); SALES FIGURES (78%); CHRONOLOGIES (78%); CAPITAL GAINS TAX (76%); MARKET SHARE (72%); CONSUMER BEHAVIOR (70%)

Industry

NAICS339112 SURGICAL & MEDICAL INSTRUMENT MANUFACTURING (91%); NAICS325998 ALL OTHER MISCELLANEOUS CHEMICAL PRODUCT & PREPARATION MANUFACTURING (91%); SIC3841 SURGICAL & MEDICAL INSTRUMENTS & APPARATUS (91%); SIC3728 AIRCRAFT PARTS & AUXILIARY EQUIPMENT, NEC (67%)

Ticker

BOUL (STO) (91%)

Geographic

INDIA (93%); UNITED STATES (92%); SWEDEN (91%); ASIA (91%); EUROPE (79%) Sweden