[Public Notice+] i-SENS Reports Operating Profit of 31.9 Billion KRW Last Year, Up 16% YoY

[Asia Economy Reporter Eunmo Koo] Global biosensor specialist i-SENS announced its preliminary fourth-quarter results and guidance for this year on the 4th.

For the fourth quarter of last year, consolidated sales amounted to 53.9 billion KRW, operating profit was 8.2 billion KRW, and net profit was 3.8 billion KRW. Sales increased by 12% compared to the same period last year, but operating profit decreased by 16%, and net profit fell by 56%.

An i-SENS representative stated, “The expansion of blood glucose meter sales in the U.S. market, along with increased sales of blood coagulation products from our subsidiary Coagucense, and growth in blood glucose sales in China contributed to the overall increase in sales volume. However, on the profit side, compared to 2018, the effect of contributions and one-time costs from Coagucense were reflected.”

He added, “Last year's sales reached 189.8 billion KRW, a 10% growth compared to the previous year, and operating profit increased by 16% to 31.9 billion KRW, showing better business performance than the guidance presented early last year.”

i-SENS has continued its strong growth by acquiring Coagucense, a U.S. blood coagulation diagnostics company, securing a foothold in the U.S. market and diversifying its portfolio. In fact, U.S. sales accounted for a 24% increase in i-SENS’s overseas sales, and the company also completed sales licensing for its China factory, which began operations early this year.

Through its outlook announcement, i-SENS projected sales of 210 billion KRW and operating profit of 34 billion KRW for this year. These figures represent an 11% increase in sales and a 7% increase in operating profit compared to the previous year.

An i-SENS representative said, “We expect growth in both the U.S. and Chinese markets to drive sales growth again this year. While focusing on research and development to accelerate the launch of next-generation continuous glucose monitoring devices in 2021, we are also doing our best to secure mid- to long-term growth engines.”

This content was produced with the assistance of AI translation services.