News and Announcements
Universal Biosensors Increases Revenue by 36% to $14.3m
- Published August 10, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Universal Biosensors (ASX:UBI) has recently announced its financial results for the first half of 2017. For the first six months, total revenue increased by 36% to $14.3 million, driven by both of UBI’s leading products – OneTouch® Verio® blood glucose strips and Xprecia Stride™ Coagulation Analyser test strips.
KEY TAKEAWAYS:
- Total revenue of $14.3 million in H1 2017, up 36% on H1 2016
- Xprecia Stride™ revenues, $2.3 million in H1 2017
- Gross margin and cost containment deliver net profit of $2.5 million in H1 2017
- Positive operating cash flows resulting in cash balance of $20 million as at 30 June 2017
Interim Chief Executive Officer Andrew Denver said: “We are pleased that we have continued on our positive growth trajectory of delivering profits and cash flows for our shareholders. Xprecia Stride™ coagulation test strips are beginning to make an important contribution to our revenues following full market release and the commencement of sales activities in the U.S. in the second quarter. Our strong track record of innovation and partnerships in the Point-of-Care diagnostics space, in combination with our sound financial position, leaves us well placed to capitalise on future growth opportunities.”
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