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MEDICAL device manufacturer Biosensors Group International
announced a 63 per cent fall in net profit to US$12.1 million (S$15.3
million) for its first quarter ended June 30.
Lower profit was due to a combination of lower revenue, higher cost of sales and higher sales and marketing expenses.
Revenue was down 11 per cent to US$76.7 million.
The group is guiding for revenue for the fiscal year ending Mar 31, 2014, to grow by 15 per cent, driven by growth for drug-eluting stent sales and an expectation that China sales will recover.
Lower profit was due to a combination of lower revenue, higher cost of sales and higher sales and marketing expenses.
Revenue was down 11 per cent to US$76.7 million.
The group is guiding for revenue for the fiscal year ending Mar 31, 2014, to grow by 15 per cent, driven by growth for drug-eluting stent sales and an expectation that China sales will recover.
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