Gross margin on total revenue rose to 85 percent for the quarter from 82 percent in the previous quarter and 81 percent in Q1 FY12. Gross margin on total product sales was 81 percent, compared to 76 percent in the previous quarter and 74 percent in Q1 FY12. Reduction in manufacturing cost, favorable geographical and product mix contributed to the improvement in the gross product margin.

"Looking ahead, despite the challenging global macro economic developments, we remain confident about our growth prospects for the fiscal year," concluded Dr Wang. "Our DES growth stays strong. At the same time, we are committed to continue boosting our competitiveness by demonstrating more positive clinical evidence with our existing and pipeline products. On the merger and acquisition front, we will continue to explore various opportunities to grow Biosensors to greater heights."