LONDON (Alliance News) - Akers Biosciences Inc Thursday posted a widened loss due to revenue from breathalyser tests not recurring, but expressed optimism on rising sales of its heparin allergy test.
In the quarter to end-March Akers posted a pretax loss of USD1.3 million, widened from a pretax loss of USD595,600 a year before, as revenue fell to USD510,047 from USD1.2 million.
The fall in revenue was due to its alcohol breathalyser distributor ChubeWorkx Guernsey Ltd placing no orders during the period for its breathalyser products as a result of the French government postponing the instituting of a fine that was intended to be imposed on drivers who failed to possess breathalysers in their vehicles.
The company said it is exploring some opportunities in the US for the product, but said sales of these breathalysers are not core to its strategy at the moment, as it is focusing on higher-margin tests.
Sales of its test for an allergic condition associated with the use of the drug heparin rose to USD338,361 from USD288,581 a year before, which Akers said is encouraging as it does not yet include an expected boost from a price increase that took effect from the beginning of May or its expanded US sales team.
Shares in Akers are trading down 3.5% at 280.00 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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