[Featured Stock] i-SENS Rises Over 6% Intraday After Strong Q1 Earnings Announcement

[Asia Economy Reporter Minji Lee] i-SENS is showing an intraday rise of over 6%.

At 10:12 AM on the 3rd, i-SENS was trading at 30,900 KRW, up 6.74% from the previous trading day. This is analyzed to be due to expanded investor sentiment following the achievement of the highest quarterly sales in history for the first quarter.

On this day, i-SENS announced that its consolidated operating profit for the first quarter of this year was 9.811 billion KRW, an increase of 21.8% compared to the same period last year. During the same period, sales amounted to 68.823 billion KRW, up 30.9% year-on-year. Net profit for the period was recorded at 12.936 billion KRW, an increase of 84.8% compared to the same period last year.

The background for the performance improvement is attributed to growth in the blood glucose monitoring and point-of-care testing (POCT) divisions. Both business divisions recorded double-digit growth in the first quarter, leading to overall performance improvement. In particular, the blood glucose monitoring division drove sales growth with a 42% increase in sales in the U.S. compared to the same period last year, due to continuous order increases from U.S. customers including Walmart.

A company official stated, “Despite the inclusion of a special bonus expense of approximately 2.7 billion KRW granted as stock to all employees in January in the first quarter results, operating profit significantly increased due to record quarterly sales and foreign exchange effects. From the second quarter, overseas clinical trials are also scheduled to begin, and existing businesses continue to achieve stable growth, so we expect to smoothly achieve the performance guidance and new business plans set for this year.”