By raphael lim
MEDICAL device maker Biosensors International's net profit took a
beating for both its fourth quarter and the full year, hit by lower
revenue and thinner gross margins. Net profit for the three months ended
March 31, 2014, was US$6.1 million, or 0.36 US cent per share, down
from US$29.8 million, or 1.73 US cents per share, a year earlier.
Total revenue fell 8 per cent to US$81.6 million, partly due to a decline in revenues from interventional cardiology. The segment, Biosensor's largest product revenue contributor, recorded a 14 per cent decline in revenue to US$63 million.
Revenue from the group's other product segments - critical care and cardiac diagnostic - grew.
For the full year, net profit fell 65 per cent to US$40.6 million. Revenue slipped - for the first time in five years - by 4 per cent to US$323.8 million, owing to a reduction in the licensee's drug-eluting stents (DES) sales in Japan.
Total revenue fell 8 per cent to US$81.6 million, partly due to a decline in revenues from interventional cardiology. The segment, Biosensor's largest product revenue contributor, recorded a 14 per cent decline in revenue to US$63 million.
Revenue from the group's other product segments - critical care and cardiac diagnostic - grew.
For the full year, net profit fell 65 per cent to US$40.6 million. Revenue slipped - for the first time in five years - by 4 per cent to US$323.8 million, owing to a reduction in the licensee's drug-eluting stents (DES) sales in Japan.
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