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Sysmex Posts 8 Percent Revenue Drop for H1 Fiscal 2021

NEW YORK — Sysmex on Thursday reported a nearly 8 percent year-over-year drop in revenues for the first half of its fiscal year 2021 as the ongoing SARS-CoV-2 pandemic impacted the Japanese diagnostics maker's business.

For the six-month period ended Sept. 30, Sysmex's revenues fell to ¥132.10 billion ($1.27 billion) from ¥142.99 billion in the same period the year before. Sales in Japan dropped 6 percent to ¥21.28 billion for the first half of FY2021 from ¥22.69 billion as a rise in reagent and service revenues were offset by lower instrument sales, particularly in the hematology field. Overseas sales, meanwhile, were down 8 percent to ¥110.81 billion from ¥120.30 billion a year earlier, dragged down by lower reagent and service revenues in the hematology, urinalysis, and immunochemistry fields.

Sysmex's profit for the first half of fiscal 2021 fell to ¥12.58 billion, or ¥60.53 per share, from ¥17.46 billion, or ¥84.20 per share, in the year-ago period.

Its SG&A costs declined 5 percent to ¥38.08 billion from ¥40.03 billion year over year as its R&D spending fell 7 percent to ¥9.75 billion from ¥10.46 billion.

At the end of September, Kobe-based Sysmex had cash and cash equivalents totaling ¥55.21 billion.

For full-year 2021, the company forecast ¥310 billion in sales and a profit of ¥30.8 billion, or ¥147.46 per share.