A series of unfortunate events: Biosensors refused to declare any dividends

The string of bad news doesn't end there.

"A bad day" is an understatement as far as Biosensors is concerned. With core profits crashing almost 60%, revenue dropping 3.7%, and a refusal to declare dividends, its newly appointed CEO has lots of tables to turn for the company.

According to OCBC, Biosensors International Group’s (BIG) operational performance took another hit in 4QFY14, with revenue and core PATMI dipping by 8.0% and 63.7% YoY to US$81.6m and US$10.8m, respectively.

Here's more from OCBC:

For FY14, revenue slipped 3.7% to US$323.8m, forming 97.9% of our forecast. Core PATMI fared worse, slumping 59.2% to US$45.5m, missing our forecast of US$48.2m, which was the second lowest on the street.

Another disappointment came from BIG’s decision to not declare any dividends (FY13: maiden DPS of US$0.02) despite its strong balance sheet (net cash balance of US$222.2m as at 31 Mar 2014).

Contrary to BIG’s previous practice of providing topline guidance, management decided against doing so for its FY15 outlook.

This was attributed to the weak earnings visibility as market conditions are expected to remain challenging in the near-term given price pressures and intensifying competition.

Meanwhile, BIG also announced that it has appointed Mr. Jose Calle Gordo as its new CEO, and this will take effect from 1 Nov 2014. Mr. Calle has over 25 years of broad business and management experience in the medical devices industry, having served in various vice president and managerial roles at Abbott, Eli Lilly, and Guidant.

BIG’s current CEO Dr. Jack Wang has been re-designated as the new Chief Technology Officer.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia