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Sysmex Revenues Rise 5 Percent for First Nine Months of Fiscal 2020

NEW YORK — Japanese diagnostics firm Sysmex reported on Wednesday a nearly 5 percent increase in revenues for the first nine months of its fiscal year 2020 amid increased instrument and reagent sales both domestically and internationally.

For the nine-month period ended Dec. 31, Sysmex's total revenues climbed to ¥218.16 billion ($1.90 billion) from ¥208.37 billion in the same period a year earlier. Sales in Japan rose about 7 percent to ¥34.00 billion from ¥31.82 billion on higher demand for the company's hematology and hemostasis instruments and reagents. Overseas sales rose around 4 percent to ¥184.17 billion from ¥176.55 billion on sales increases in the hematology, urinalysis, and immunochemistry markets.

Sysmex reported a profit of ¥26.37 billion, or ¥126.80 per share, for the first nine months of fiscal 2020, down from ¥28.82 billion, or ¥138.34 per share, in the year-ago period.

Contributing to the profit decline was a slight uptick in SG&A costs year over year to ¥61.75 billion from ¥60.31 billion, as well as a 21 percent jump in R&D spending to ¥16.19 billion from ¥13.33 billion.

Sysmex also cited pressure on its business from trade friction between the US and China, the UK's exit from the European Union, and geopolitical tension in the Middle East.

At the end of December, Sysmex had cash and cash equivalents totaling ¥48.70 billion.

Since the beginning of calendar 2020, Sysmex has forged a diagnostic development alliance with Riken Innovation, agreed to acquire a 24.9 percent stake in Astrego Diagnostics, won Chinese approval for a breast cancer IVD reagent, and launched a JAK2V617F mutation testing reagent in Japan.