BIOTAGE AB Q1 Profit Falls

(RTTNews) - BIOTAGE AB (BITGF.PK) announced earnings for first quarter that decreased from last year

The company's bottom line totaled SEK4 million, or SEK0.05 per share. This compares with SEK33 million, or SEK0.42 per share, last year.

The company's revenue for the period fell 19.8% to SEK385 million from SEK480 million last year.

BIOTAGE AB earnings at a glance (GAAP) :

-Earnings: SEK4 Mln. vs. SEK33 Mln. last year. -EPS: SEK0.05 vs. SEK0.42 last year. -Revenue: SEK385 Mln vs. SEK480 Mln last year.

Frederic Vanderhaegen, CEO of Biotage AB, said: “As expected, our Q1 revenue was softer than the prior year, primarily due to volatility within bioprocessing which we have previously commented on. Our relatively large revenue exposure and its related fluctuations among our plasma customers impacted overall performance.”