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Biosensors Reports Financial Results for the Second Quarter and First Half of Fiscal Year 2014
Date:11/12/2013

SINGAPORE, Nov. 12, 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 the second quarter of its Fiscal Year 2014 (Q2 FY14) and first half ended 30 September 2013 (H1 FY14).

Second Quarter Highlights and Recent Developments:

  • Growth in total revenue and product revenue both improved compared to the first quarter of Fiscal Year 2014 (Q1 FY14). Total revenue grew 4% year-over-year and 8% sequentially, while total product revenue increased 10% and 11%, respectively.
  • The EMEA and APAC regions continued to lead drug-eluting stent (DES) sales growth with double digit sales volume growth
  • China sales improved following inventory reduction in the first quarter
  • Obtained various significant regulatory approvals, including:
    • Therapeutic Goods Administration (TGA) approval for BioMatrix Flex™ in Australia
    • CE Mark for expanded size of Axxess™ (4.0 x 9 mm extension)
    • CE Mark for drug-eluting balloons (DEBs) – BioPath™ 014 and BioPath™ 035 for the treatment of peripheral arterial disease and BioStream™ for the treatment of coronary artery disease
    • China Food and Drug Administration (CFDA) approval for Spectrum Dynamics' ("SD") D-SPECT Cardiac Imaging System
  • Final results from landmark LEADERS trial published in JACC Cardiovascular Interventions

"In the second quarter, we achieved better results than the first quarter. Our total revenue growth increased sequentially, as the decline in our royalty income began to moderate. We continued to achieve double digit sales volume
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SOURCE Biosensors International Group, Ltd.
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