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Biosensors Reports Financial Results for Fiscal Year 2013
Date:5/29/2013

SINGAPORE, May 29, 2013 /PRNewswire/ -- Biosensors International Group, Ltd. ("Biosensors" or the "Company", Bloomberg: BIG SP; Reuters: BIOS.SI; SGX: B20), a developer, manufacturer and marketer of innovative medical devices, today announced financial results for its fourth fiscal quarter (Q4 FY13) and fiscal full year ended 31 March 2013 (FY13).

Highlights and Other Recent Updates:

  • Q4FY13: Total revenue was US$88.8 million, compared to US$88.2 million last year while product revenue rose 17% year-on-year to US$76.4 million, the growth being partially offset by royalty revenue decline; product gross margin increased to 81% from 76% last year
  • FY13: Total revenue rose 15% year-on-year to US$336.2 million; product revenue rose 32% year-on-year to US$278.5 million; product gross margin increased to 81% from 73% last year
  • Obtained CE Mark approval for the pioneered, next-generation polymer-free drug-coated stent, BioFreedom™
  • Obtained CE Mark approval in May for BioMatrix NeoFlex™
  • Raised approximately US$240 million from note offering
  • In May, acquired substantially all assets of Spectrum Dynamics (SD), a leader in advanced functional assessment technologies
  • Recommended dividend of US$0.02 per share for the financial year ended 31 March 2013, subject to shareholders' approval

"FY13 marked another significant year for Biosensors on many fronts. Our product revenue continued to achieve a strong growth, despite the overall drug-eluting stent (DES) market facing increasing pressures and challenges. Our gross margin also showed substantial year-on-year improvement," said Biosensors' CEO Dr. Jack Wang . "We successfully obtained the CE Mark approval for BioFreedom -- our pioneered, next-generation polymer-free drug-coated stent; co
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SOURCE Biosensors International Group, Ltd.
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