With cost of sales increasing 66.7% y-o-y to US$9.92 million, the group’s gross profit came in 6.4% lower y-o-y at US$4.40 million.
SINGAPORE (Mar 1): QT Vascular, the maker of coronary products, announced that its FY17 losses have widened to US$25.9 million ($34.2 million) compared to US$12.0 million in FY16.
Revenue was 34.4% higher at US$14.3 million from US$10.6 million a year ago, mainly due to the increase in sales of the group’s Chocolate PTA Balloon Catheter to Medtronic.
