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-Norwegian Biotec Pharmacon posts NOK5.1m after-tax loss in Q2 2011.

NORDIC BUSINESS REPORT-August 10, 2011--Norwegian Biotec Pharmacon posts NOK5.1m after-tax loss in Q2 2011(C)2011 M2 COMMUNICATIONS http://www.m2.com

10 August 2011 - Norwegian company Biotec Pharmacon ASA (OSL: BIOTEC) said today its after-tax loss narrowed to NOK5.1m in the second quarter of 2011 from NOK5.8m a year earlier, as operating costs decreased.

The loss per share shrank to NOK0.18 in April to June 2011 from NOK0.25 in the same period of 2010.

The operating costs declined to NOK5.6m from NOK7.1m.

The operating loss narrowed to NOK5.3m from NOK6m.

The sales revenue declined to NOK5.4m from NOK7.3m, due to weak deliveries of the company's leading enzyme product -- shrimp alkaline phosphatase (SAP) -- to its exclusive customer and distributor Affymetrix. Other products registered good growth.

At the end of June 2011, Biotec Pharmacon had a cash holding of NOK42m.

(EUR1 = NOK7.8)

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Publication:Nordic Business Report
Article Type:Brief article
Geographic Code:4EXNO
Date:Aug 10, 2011
Words:163
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