Printer Friendly

-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

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)

((Comments on this story may be sent to

COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Nordic Business Report
Article Type:Brief article
Geographic Code:4EXNO
Date:Aug 10, 2011
Previous Article:-Swedish Orexo Q2 net loss narrows on higher revenue.
Next Article:-Oriflame Cosmetic profit, sales decline in Q2 2011.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters