Akers Biosciences Announces Q1 2018 Earnings
AKERS BIOSCIENCES INC COMMON S (AKER)
US:NASDAQ Investor Relations:
akersbio.com/investor-center
Company Research
Source: GlobeNewswire
THOROFARE, N.J, July 13, 2018 (GLOBE NEWSWIRE) -- Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (“Akers Bio” or the "Company"), a developer of rapid health information technologies, reports its financial results for the first quarter ended March 31, 2018. A Form 10-Q containing the full financial statements is available for viewing on the Company's website at www.akersbio.com or www.sec.gov. Q1 Financial Summary: Total revenue $302,475 (Q1 2017: $667,250) Revenue from flagship PIFA Heparin PF/4 Rapid Assay products $259,983 (Q1 2017: $560,921) – the Company experienced lower yields in the process of extracting antigen used to produce these products, resulting in production under target levels, and backorders Gross profit margin 2% (Q1 2017: 61%) Costs associated with the low antigen yields and steps to remediate the issue significantly affected the direct costs of production and the fixed nature of key components of the indirect production costs impacted the margin during t
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