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DiaSorin Posts 32 Percent Jump in Q2 Revenues

2022/8/4 14:19:05 Views:93

Original from: 360DX

Italian diagnostic firm DiaSorin on Wednesday reported a 32 percent year-over-year jump in revenues for the second quarter of 2022.

For the three-month period ended June 30, DiaSorin's revenues climbed to 327.8 million ($333.9 million) from 248.7 million in the same period last year as non-COVID-19 molecular diagnostic revenues more than tripled to 50.3 million, and non-COVID-19 immunodiagnostic revenues rose 10 percent to 172.9 million. Luminex, which DiaSorin acquired in July 2021, helped drive the overall revenue increase, including the impact of 51.6 million in revenues from licensed technologies including its xMap instruments and consumables.

Revenues from COVID-19 products, meanwhile, dropped 30 percent to 53.0 million in Q2 from 75.3 million in the same period a year earlier.

DiaSorin's net profit for the second quarter fell to 58.5 million from 71.8 million. 

Second quarter SG&A expenses rose 80 percent to 102.4 million from 56.8 million in the same period the year before, while R&D spending more than doubled to 23.9 million from 11.5 million in Q2 2021, in part reflecting the impact of the Luminex acquisition.

At the end of June, DiaSorin had cash and cash equivalents totaling 382.4 million. 

Looking ahead, DiaSorin said it now expects a roughly 2 percent year-on-year increase in revenues for 2022 on an uptick in COVID-19 sales to 200 million for the year and an expected 24 percent rise in non-COVID-19 revenues.

Source: DiaSorin Posts 32 Percent Jump in Q2 Revenues