Business & Finance
Bactiguard Holdings swings to loss in Q1 2018
9 May 2018 -

Swedish infection protection solution company Bactiguard Holdings AB (STO: BACTIB) on Tuesday reported a net loss of SEK8.0m, or SEK0.24 per share, for the first quarter of 2018.

This was a decline over net profit of SEK4.1m, or EPS of SEK0.12, in Q1 2017.

Revenues for the quarter amounted to SEK33.0m, down by approximately 20% as compared with SEK41.0m in Q1 2017, mainly as a result of Q1 2017 including a one-time revenue from a new license business with Smartwise Sweden AB of SEK8.8m.

During the quarter, BIP (Bactiguard Infection Protection) products for a value of SEK7.3m were delivered, up by 157% as compared with SEK2.8m in Q1 2017.

According to the company, its primary focus in 2018 is to generate growth through increased sales of its own product portfolio and by developing new licensing businesses and to approach its financial targets. Also, overall sales and profitability did not reach the levels reported in Q1 2017 due to that no new licensing agreements were completed this quarter.

Bactiguard develops and supplies infection protection solutions, which reduce the risk of healthcare associated infections and the use of antibiotics. Bactiguard offers the technology through licence agreements and its BIP portfolio of products. Through its licence partner CR Bard, the company offers urinary catheters with Bactiguard's coating in the US and Japan.