1(a) An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year.
Consolidated Income Statement for the second quarter and half year ended 30 September 2015
Note | The Group | |||||
2nd Quarter Ended | Half Year Ended | |||||
30-Sep-15 | 30-Sep-14 | Change | 30-Sep-15 | 30-Sep-14 | Change | |
A | US$'000 | US$'000 | % | US$'000 | US$'000 | % |
56,704 | 68,864 | (18) | 117,236 | 139,332 | (16) | |
B | 3,306 | 5,922 | (44) | 9,801 | 15,664 | (37) |
60,010 | 74,786 | (20) | 127,037 | 154,996 | (18) | |
(17,762) | (20,886) | (15) | (33,761) | (41,366) | (18) | |
42,248 | 53,900 | (22) | 93,276 | 113,630 | (18) | |
(19,875) | (25,959) | (23) | (40,164) | (52,883) | (24) | |
C | (8,080) | (9,452) | (15) | (15,915) | (20,104) | (21) |
D | (5,583) | (8,259) | (32) | (10,205) | (15,309) | (33) |
E | (33,538) | (43,670) | (23) | (66,284) | (88,296) | (25) |
8,710 | 10,230 | (15) | 26,992 | 25,334 | 7 | |
F | 5,044 | (137) | NM | 3,961 | (398) | NM |
G | 1,825 | 1,815 | 1 | 3,871 | 3,546 | 9 |
H | (3,266) | (3,454) | (5) | (6,617) | (6,866) | (4) |
I | 12,313 | 8,454 | 46 | 28,207 | 21,616 | 30 |
(4,524) | (4,563) | (1) | (9,157) | (9,199) | (0) | |
(3,206) | 510 | NM | (3,960) | 510 | NM | |
4,583 | 4,401 | 4 | 15,090 | 12,927 | 17 | |
(573) | 522 | NM | (1,619) | 1,867 | NM | |
4,010 | 4,923 | (19) | 13,471 | 14,794 | (9) |
Product revenue
Licensing and royalties revenue
Total revenueSales and marketing expenses General and administrative expenses Research and development expenses
Other income/(expenses), net Financial income
Financial expenses
Amortisation of customer lists and patents
Exceptional items
- restructuring of operations
Profit before tax Income tax | |||||
Net profit for the period | |||||
Attributable to: Equity holders of the Company | 4,010 | 4,923 | 13,471 | 14,794 | |
Earnings per share (US cent) Before exceptional items Basic | (see footnotes) | 0.43 | 0.26 | 1.04 | 0.84 |
Diluted After exceptional items Basic | 0.43 0.24 | 0.26 0.29 | 1.03 0.80 | 0.84 0.87 | |
Diluted | 0.24 | 0.29 | 0.80 | 0.86 |
NM - Not meaningful
Consolidated Statement of Comprehensive Income
The Group | |||||
2nd Quarter Ended | Half Year Ended | ||||
30-Sep-15 | 30-Sep-14 | Change | 30-Sep-15 | 30-Sep-14 | Change |
US$'000 | US$'000 | % | US$'000 | US$'000 | % |
4,010 | 4,923 | (19) | 13,471 | 14,794 | (9) |
(36,653) | (23,912) | 53 | (32,549) | (2,058) | NM |
(32,643) | (18,989) | (19,078) | 12,736 |
Exchange differences on translation of financial statements of foreign subsidiaries
Equity holders of the Company (32,643) (18,989) (19,078) 12,736
Footnotes
1 Weighted average ordinary shares issued ('000) | 1,685,808 1,698,679 | 1,683,710 1,698,060 |
2 Weighted average ordinary shares and equivalents outstanding ('000) | 1,688,277 1,709,701 | 1,686,519 1,710,438 |
Basic earnings per share is calculated by dividing the profit for the period by the weighted average number of shares in issue during the period excluding ordinary shares purchased by the Company and held as treasury shares.
Diluted earnings per share is calculated by dividing the profit for the period by the weighted average number of shares in issue during the period excluding ordinary shares purchased by the Company and held as treasury shares adjusted for the effects of dilutive options.
Product revenue
The Group 2nd Quarter Ended
Half Year Ended
30-Sep-15 30-Sep-14 30-Sep-15 30-Sep-14 US$'000 US$'000 US$'000 US$'000
Critical care products 3,988 3,655 7,744 8,031
Interventional cardiology products 49,038 61,303 102,542 122,998 Cardiac diagnostic 3,678 3,906 6,950 8,303
56,704 68,864 117,236 139,332
Sales and marketing expenses decreased 23% to US$19.9 million for the quarter ended 30 September 2015 compared to US$26.0 million for the quarter ended 30 September 2014 mainly due to reduced payroll related expenses, marketing, exhibition and travelling related expenses.
General and administrative expenses decreased 15% to US$8.1 million from US$9.5 million in the corresponding quarter of last year mainly due to lower professional fee and share-based payment expenses.
Research and development expenses decreased 32% to US$5.6 million compared to US$8.3 million in the quarter ended 30 September 2014 mainly due to lower clinical trial expenses.
Profit from operations is determined after (charging)/crediting the following:
The Group 2nd Quarter Ended
Half Year Ended
30-Sep-15 30-Sep-14 30-Sep-15 30-Sep-14
Depreciation of property, plant and equipment | US$'000 (1,423) | US$'000 (1,995) | US$'000 (2,840) | US$'000 (3,712) |
Amortisation of intangible assets (excluding customer lists and patents) | (472) | (247) | (952) | (506) |
Realisation of deferred revenue | 1,501 | 1,342 | 3,526 | 3,940 |
(Allowance for)/write-back of doubtful trade debts, net | (311) | 1,206 | 1,108 | 516 |
Write-back for doubtful non-trade debts, net | 2 | 3 | 5 | 6 |
Inventories write-down, net | (550) | (1,607) | (864) | (4,078) |
Provision for warranty, net | (3) | (12) | (5) | (33) |
(Provision)/Reversal for sales return | (40) | (237) | 16 | (492) |
Impairment of property, plant and equipment | - | - | (58) | 66 |
Intangible assets written off | - | (15) | - | (15) |
Property, plant and equipment written off | 8 | (18) | (7) | (73) |
Inventories written off | (253) | (122) | (1,232) | (317) |
(Loss)/gain on disposal of property, plant and equipment | (2) | - | (7) | 1 |
Foreign exchange gains/(losses) | 5,097 | (127) | 4,073 | (376) |
F | Other income/(expenses), net | ||||
The Group | |||||
2nd Quarter Ended | Half Year Ended | ||||
30-Sep-15 | 30-Sep-14 | 30-Sep-15 | 30-Sep-14 | ||
US$'000 | US$'000 | US$'000 | US$'000 | ||
(Loss)/gain on disposal of property, plant and equipment, net | (2) | - | (7) | 1 | |
Foreign exchange gain/(loss), net | 5,097 | (127) | 4,073 | (376) | |
Other miscellaneous expenses, net | (51) | (10) | (105) | (23) | |
5,044 | (137) | 3,961 | (398) | ||
Other operating expenses for the quarter was mainly the exchange gain from the appreciation of JPY and EUR against USD during the period. | |||||
G | Financial income | 2nd Quarter Ended | Half Year Ended | ||
30-Sep-15 | 30-Sep-14 | 30-Sep-15 | 30-Sep-14 | ||
US$'000 | US$'000 | US$'000 | US$'000 | ||
Interest income | |||||
- bank balances | 217 | 340 | 438 | 709 | |
- fixed deposits | 1,589 | 1,455 | 3,395 | 2,797 | |
- others | 19 | 20 | 38 | 40 | |
1,825 | 1,815 | 3,871 | 3,546 | ||
H | Financial expenses | 2nd Quarter Ended | Half Year Ended | ||
30-Sep-15 | 30-Sep-14 | 30-Sep-15 | 30-Sep-14 | ||
US$'000 | US$'000 | US$'000 | US$'000 | ||
Interest expense | |||||
- long term loan | (403) | (282) | (810) | (477) | |
- notes payable | (2,856) | (3,160) | (5,793) | (6,356) | |
- others | (7) | (12) | (14) | (33) | |
(3,266) | (3,454) | (6,617) | (6,866) | ||
I | Income tax | ||||
Income tax for the current quarter and the half year ended 30 September 2015 includes mainly corporate income tax expenses. |
1(b)(i) | A balance sheet (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year. | ||||||
Consolidated Balance Sheets as at 30 September 2015 | |||||||
The Group | The Company | ||||||
Note | 30-Sep-15 | 31-Mar-15 | 30-Sep-15 | 31-Mar-15 | |||
US$'000 | US$'000 | US$'000 | US$'000 | ||||
Non-Current Assets | |||||||
Property, plant and equipment | 81,177 | 86,289 | - | - | |||
Investment in subsidiaries | - | - | 584,716 | 584,716 | |||
Other investments | A | 30,844 | 28,836 | 30,844 | 28,836 | ||
Intangible assets | 125,090 | 134,875 | 13,177 | 12,199 | |||
Deposit pledged for bank loan | 1,049 | 1,092 | - | - | |||
Goodwill | 424,682 | 439,576 | 52,579 | 52,579 | |||
Deferred tax assets | 255 | 258 | - | - | |||
Long term loan to a third party | 1,500 | 1,500 | - | - | |||
Long term loans to subsidiaries | - | - | 57,039 | 56,616 | |||
Current Assets | |||||||
Inventories | B | 45,751 | 44,474 | - | - | ||
Trade receivables | C | 62,632 | 73,121 | - | - | ||
Other receivables | 3,495 | 4,059 | 1,180 | - | |||
Deposits and prepayments | D | 18,941 | 15,058 | 1,330 | 523 | ||
Due from subsidiaries (non-trade) | - | - | 15,261 | 13,303 | |||
Due from subsidiaries (trade) | - | - | 5,762 | 7,042 | |||
Short term loan to a third party | 500 | 500 | - | - | |||
Deposits pledged for bank loans | 44,090 | 47,793 | - | - | |||
Cash and cash equivalents | 523,686 | 518,253 | 288,520 | 298,656 | |||
699,095 | 703,258 | 312,053 | 319,524 | ||||
Less: | |||||||
Current Liabilities | |||||||
Trade payables | 8,557 | 6,605 | - | - | |||
Other payables | 17,467 | 18,939 | 560 | 768 | |||
Accruals | E | 23,140 | 26,702 | 1,666 | 2,291 | ||
Provisions | 2,603 | 2,747 | - | - | |||
Due to subsidiaries (non-trade) | - | - | 10,076 | 18,413 | |||
Provision for income tax | 6,204 | 6,845 | 389 | 23 | |||
Deferred revenue, current portion | F | 1,849 | 1,678 | - | - | ||
Finance lease liabilities, current portion | 18 | 19 | - | - | |||
Borrowings | G | 41,303 | 41,433 | 39,000 | 41,046 | ||
Contingent consideration | 2,410 | 2,410 | 2,410 | 2,410 | |||
103,551 | 107,378 | 54,101 | 64,951 | ||||
Net Current Assets | 595,544 | 595,880 | 257,952 | 254,573 | |||
Less: | |||||||
Non-Current Liabilities | |||||||
Deferred tax liabilities | 13,669 | 15,220 | - | - | |||
Deferred revenue, non-current portion | F | 903 | 1,561 | - | - | ||
Finance lease liabilities, non-current portion | 48 | 60 | - | - | |||
Borrowings | G | 243,699 | 254,260 | 205,612 | 211,819 | ||
Other payable - non current | 63 | 78 | 63 | 78 | |||
Pension funds | 2,774 | 2,701 | - | - | |||
261,156 | 273,880 | 205,675 | 211,897 | ||||
998,985 | 1,014,426 | 790,632 | 777,622 | ||||
Capital and Reserves | |||||||
Share capital | 118 | 117 | 118 | 117 | |||
Share premium | 750,266 | 746,042 | 750,266 | 746,042 | |||
Treasury shares | (54,692) | (54,692) | (54,692) | (54,692) | |||
Translation reserves | 13,078 | 45,627 | - | - | |||
Other reserves | 18,937 | 19,525 | 17,891 | 18,479 | |||
Accumulated profits | 271,278 | 257,807 | 77,049 | 67,676 | |||
998,985 | 1,014,426 | 790,632 | 777,622 | ||||
Net assets values | |||||||
Net assets per share (US cent) | 59.16 | 60.36 | 46.82 | 46.27 | |||
Footnote | |||||||
Number of shares in issue at end of period ('000) | 1,688,550 | 1,680,706 | 1,688,550 | 1,680,706 | |||
Net assets per share is calculated by dividing the net assets by the number of shares in issue as at the balance sheet date. |
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Biosensors International Group Ltd. issued this content on 03 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 March 2016 13:20:29 UTC
Original Document: http://biosensors.listedcompany.com/newsroom/20160303_210311_B20_KP6C0MWKIKVTZ9DJ.1.pdf