Biosensors’ net profit plunged 33.2% to $10m in Q3

Due to lower licensing revenue.

Biosensors International reported that its profit after tax and minority interest (PATMI) plunged 33.2% to $10m (US$7.4m) in Q3 on back of lower licensing revenue and adverse forex impact.

Total revenue slipped 6% to $105.2m (US$77.5m), compared to $112m (US$82.5m) in the same period last year. The decline was mainly due to unfavorable foreign exchange impact.

On a constant currency basis, the decrease in licensing and royalty revenue was offset by product revenue growth.

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