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(R) 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.


Full details of 2009 second quarter results and Financial Statements and
Management's Discussion & Analysis have been posted on sedar.com.


BioSyent Inc. continues to concentrate on its pharmaceutical strategy to source
products that have been successfully developed and proven to be safe and
effective; manage these products through the regulatory process and product
registration (approval); and once approved, market these products in Canada.
These pharmaceuticals will compete in both the branded and generic market
segments and will not require further product development investment other than
regulatory costs.


BioSyent Inc. is a publicly traded specialty pharmaceutical company whose wholly
owned subsidiary, BioSyent Pharma Inc., sources, acquires or in-licences
pharmaceutical products and markets these products in Canada. Wholly owned
BioSyent subsidiary Hedley Technologies Ltd. operates the company's legacy
business marketing bio and health friendly non-chemical insecticides. BioSyent
common shares are listed for trading on the TSX Venture Exchange (TSXV) under
the symbol RX.


This press release may contain information or statements that are
forward-looking. The contents herein represent our judgment, as at the release
date, and are subject to risks and uncertainties that may cause actual results
or outcomes to be materially different from the forward-looking information or
statements. Potential risks may include, but are not limited to, those
associated with clinical trials, product development, future revenue,
operations, profitability and obtaining regulatory approvals.


Biosyent (TSXV:RX)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Biosyent Charts.
Biosyent (TSXV:RX)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Biosyent Charts.