1Q Sales Revenue Plummets 86.8% Year-on-Year
SD Biosensor announced on the 15th that its consolidated operating loss for the first quarter of this year amounted to 123.8 billion KRW. The first quarter sales recorded 182.4 billion KRW, a decrease of 86.9% compared to the same period last year.
An SD Biosensor representative explained, "In the first quarter, one-time expenses such as amortization costs related to purchase price allocation (PPA) following the January acquisition of Meridian Bioscience, inventory asset provisions to resolve inventory risks, and foreign exchange losses were reflected in the consolidated accounting."
The representative continued regarding the company’s main product, the Standard M10, "In the first quarter, we obtained formal approval from the Ministry of Food and Drug Safety for a cartridge capable of simultaneous diagnosis of influenza, respiratory syncytial virus (RSV), and COVID-19. We aim to secure domestic MFDS approval within the year for the CDPseal product capable of E. coli testing and the MDR-TB product for multidrug-resistant tuberculosis testing."
The representative added, "We plan to launch the biochemical testing platform 'C10,' which can quantitatively diagnose levels of liver function and electrolytes in human blood, within this year."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
