Sangui Biotech International, Inc. Announces Earnings Results for the Six Months Ended December 31, 2016; Provides Revenues Guidance for the Full Year of Fiscal 2017
February 24, 2017 at 09:41 am EST
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Sangui Biotech International, Inc. announced earnings results for the six months ended December 31, 2016. For the period, the company achieved revenues from royalty income and product sales of USD 35,508. In the same period of the previous year the comparable revenue amounted to USD 26,856. Due to increased revenues of the wound spray Granulox, the resulting royalty income in the first half year increased by 32% compared to the same period of the previous year. After a cautious first quarter, especially a strong end-of-year business was responsible for this development. The operating loss of the first half year decreased compared to the prior year by USD 30,975 to USD 218,615.
The company provided revenues guidance for the full year of fiscal 2017. The sales of Granulox are subject to seasonal fluctuations. As in previous years, a strong year-end business was pleasing. As planned, sales of Granulox and royalty income in the following quarter will not reach the level of the previous quarter. For the full year 2017, however, the company is still expecting the increase in sales of Granulox and corresponding royalty revenues.
Sangui Biotech International, Inc. focuses on the development of pharmaceutical, medical and cosmetic products. The Company develops its products through its German subsidiary, SanguiBioTech AG (Sangui GmbH). It is engaged in seeking to market and selling its products through partnerships with industry partners across the world. It focuses on the development of oxygen carriers capable of providing oxygen transport in humans in the event of acute and/or chronic lack of oxygen due to arterial occlusion, anemia or blood loss whether due to surgery, trauma, or other causes. It focuses its development and commercialization efforts on such artificial oxygen carriers by reproducing and synthesizing polymers out of native hemoglobin of defined molecular sizes. It offers external applications of oxygen transporters in the medical and cosmetic fields in the form of sprays for the healing of chronic wounds and of gels and emulsions for the regeneration of the skin.
Sangui Biotech International, Inc. Announces Earnings Results for the Six Months Ended December 31, 2016; Provides Revenues Guidance for the Full Year of Fiscal 2017