BICO Group AB (BICO.ST) Wednesday tuned to loss in the fourth quarter, impacted by a negative performance from its Life Science Solutions segment. The bioprinting and lab automation company's net sales also declined 12.4 percent from a year ago.
The company posted net loss from continuing operations of 59.2 million Swedish Kroner or 0.84 Kroner per share in the fourth quarter, compared to net profit from continuing operations of 250.5 Kroner or 3.56 Kroner per share in the same period last year. The company's operating profit or EBIT was -25.9 million Kroner in the fourth quarter, compared to -8.3 million Kroner in the previous-year period.
Quarterly sales declined to 451.3 million Kroner from 515.1 million Kroner in the year-ago period. The company's Life Science Solutions segment reported a 9 percent decline in organic revenue, primarily due to continued weak demand from U.S. academic customers and a challenging year-over-year comparison.
During the three-month period, adjusted EBITDA fell to 56.2 million Kroner from 126.7 million Kroner in the corresponding quarter last year. The adjusted EBITDA margin came in at 12.5 percent, lower than 24.6 percent in the prior-year period.
On the Stockholm Exchange, BICO.ST is up 2.1 percent on Wednesday's trading at 16.34 Swedish Kroner.
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