MEDICAL device manufacturer Biosensors Group International
reported a 60 per cent drop in net profit for its second quarter ended
Sept 30 to US$11.3 million, down from US$28.2 million a year ago.
Revenue was up 4 per cent to US$83 million, with product revenue up 10 per cent to US$72.2 million and licensing and royalties revenue down 25 per cent to US$10.8 million.
Due to weak market conditions and lower selling prices, delays of royalty improvement in Japan, the management revised its previous guidance for a 15 per cent growth in revenue for its fiscal year ending March 31, 2014. It now expects revenue growth to be "moderately positive".
The company said: "Sales growth for this fiscal year could be weak despite the double-digit sales volume growth in the group's drug-eluting stent product lines."
Revenue was up 4 per cent to US$83 million, with product revenue up 10 per cent to US$72.2 million and licensing and royalties revenue down 25 per cent to US$10.8 million.
Due to weak market conditions and lower selling prices, delays of royalty improvement in Japan, the management revised its previous guidance for a 15 per cent growth in revenue for its fiscal year ending March 31, 2014. It now expects revenue growth to be "moderately positive".
The company said: "Sales growth for this fiscal year could be weak despite the double-digit sales volume growth in the group's drug-eluting stent product lines."
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