BIOSENSORS International's net profit for the third quarter
ended December fell 55 per cent to US$11.1 million from US$24.9 million a
year ago.
Revenue crept up one per cent to US$82.5 million from US$81.3 million.
This was largely due to growth in product revenue, which was offset by lower licensing revenue. Product revenue grew 6 per cent year-on-year to US$71.7 million, even as licensing and royalty revenue fell 21 per cent to US$10.8 million.
Basic earnings per share (EPS) fell to 0.65 US cents, from 1.41 US cents (before exceptional items) and 1.45 US cents (after exceptional items).
"In the third quarter, the operating environment for our business continued to be challenging. EMEA (Europe, the Middle East and Africa) and APAC (Asia Pacific) were the leading drug-eluting stents (DES) sales growth regions, although lower average selling prices remained as headwinds. In China, the weak market sentiment continued to cause some pressure on our revenue there," said Biosensors CEO Jack Wang.
Revenue crept up one per cent to US$82.5 million from US$81.3 million.
This was largely due to growth in product revenue, which was offset by lower licensing revenue. Product revenue grew 6 per cent year-on-year to US$71.7 million, even as licensing and royalty revenue fell 21 per cent to US$10.8 million.
Basic earnings per share (EPS) fell to 0.65 US cents, from 1.41 US cents (before exceptional items) and 1.45 US cents (after exceptional items).
"In the third quarter, the operating environment for our business continued to be challenging. EMEA (Europe, the Middle East and Africa) and APAC (Asia Pacific) were the leading drug-eluting stents (DES) sales growth regions, although lower average selling prices remained as headwinds. In China, the weak market sentiment continued to cause some pressure on our revenue there," said Biosensors CEO Jack Wang.
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all eyes on its biggest revenue business Interventional cardiology (80% of total revenue) which at the moment is suffering increasing margin pressure.
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