Published on August 29, 2009 at 1:23 AM
BioSyent Inc. ("BioSyent") (TSX VENTURE:RX) today released a summary of its 2009 second quarter financial results.
During the second quarter of 2009 sales increased by 11%, from $236,576 in the second quarter of 2008 to $263,622 in the second quarter of 2009. Total Sales fell by 29% from $524,573 in the first half of 2008 to $370,673 in the first half of 2009. The first half of 2009 was impacted by general recessionary conditions in the economy, higher than normal customer inventories of Protect-It® and prolonged cold weather in the prairie region which is a natural deterrent to stored grain infestation.
Gross Margins decreased from 62.9% in the first half of 2008, to 58.5% in the first half of 2009 primarily due to the selling mix of lower margin products. Management expects that greater sales of higher margin products in the second half will see margins improve to more historic levels.
The net loss for the first half of 2009 was ($232,108) compared to a net loss of ($167,845) in the first half of 2008.
http://www.biosyent.com
96974ec0-d0ef-4946-9c8e-90f25e80bf87|0|.0
Posted in:
Tags: Investment