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Biosensors Reports Financial Results for the First Quarter of Fiscal Year 2015
Date:8/6/2014

SINGAPORE, Aug. 6, 2014 /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 first fiscal quarter ended 30 June 2014 ("Q1 FY15").

Quarter Highlights and Recent Developments:

  • Total revenue was US$80.2 million, representing a 5% growth from the quarter ended 30 June 2013 ("Q1 FY14"). Product revenue increased 8% year-over-year, partially offset by lower licensing and royalty revenue.
  • Cardiac Diagnostic division sales grew substantially from Q1 FY14. This is a significant achievement as it represents a new product category and demonstrates the Company's ability to pursue growth through portfolio expansion.
  • In the drug-eluting stent (DES) business, both the BioMatrix™ family of stents and Excel recorded double-digit volume increases compared with Q1 FY14.
  • Although the Company's DES average selling prices (ASPs) were lower in comparison with Q1 FY14 which is in line with the trend observed across the industry, the Company's ASPs were relatively steady as compared with the fourth quarter of FY14 ("Q4 FY14").
  • Under the leadership of Mr. Yoh-Chie Lu, Biosensors' Chairman and interim CEO, the Company continued to make steady progress in improving its operational efficiency through cost reduction and other initiatives, as observed in the gradual reduction in sales and marketing ("S&M") expense as a percentage of product revenue versus Q1 FY14.

"In the first quarter, although weak market sentiments continued to pressure our DES revenue, we are encouraged by the good volume growth compared to Q1 FY14," said Mr. Lu. "In addition, our Cardiac Diagnostic segment recorded satisfactory growth and improved profit wh
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SOURCE Biosensors International Group, Ltd.
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