Business
Microbix announces core product sales increase in first quarter, development of new high-value business opportunities
Microbix announces core product sales increase in first quarter, development of new high-value business opportunities.
About this update from Microbix Biosystems Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Feb. 15 /CNW/ - Microbix Biosystems Inc. (MBX:TSX) today\nannounced a 37 per cent increase in product sales in the first quarter of\nfiscal 2006, ended December 31, 2005, as the Company continues to develop new\nhigher-value opportunities.\nOverall revenues of $1,136,809 were down 5 per cent from last year, due\nto decreases in contract development business and technology-licensing fees.\nSince most product sales are denominated in U.S. dollars, the 5 per cent\nrelative decline in the value of the dollar affected the gross profit margin.\nSubsequent to the end of the quarter, the Company completed a \nCdn $1-million financing agreement that will be used to take a state-of-the-\nart urokinase-manufacturing facility in Toronto to production levels.\n\n>\n%SEDAR: 00004220E\n\n\n","length":4012,"tagName":"div"}]