Compumedics profit shrinks 87% in 1H10

Compumedics profit shrinks 87% in 1H10

Medical diagnostics device developer Compumedics (ASX:CMP) saw its net profit fall 87% to $300,000 in 1H10, from foreign exchange losses.

Exchange rate fluctuations impacted earnings by $3.6 million when compared to 1H09, but higher margins and cost reductions brought the reported profit impact down to $2.2 million.

Revenue declined by 6% to $116 million, yet orders-on-hand fell by just 4% – and were 4% higher at constant currency.

The company forecast an increase in revenue for FY10, so long as market conditions continue to stabilise, or at least remain in their current state, in the year ahead.

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Tags e-healthfinancial resultsBiotechCompumedics

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