Hofseth BioCare ASA had operating revenues of NOK 10,111 thousand (NOK 1,562 thousand) in the first quarter of 2013. Total operating expenses amounted to NOK 22,698 thousand in the period compared to NOK 24,987 thousand in the first quarter 2012. There was limited commercial production in first quarter of 2013 due to fine-tuning installed equipment. Hofseth BioCare signed an exclusive rights contract with Roxlor. The agreed amount for the exclusive right for sales of SPH in USA is recognized as of March, Q1.
Operating profit (EBIT) for the fist quarter 2013 was negative NOK 15,506 thousand (NOK minus 15,548 thousand). Depreciations amounted to NOK 9,919 thousand in the quarter. Ordinary depreciations for the corresponding period last year were NOK 1,785 thousand. Net financial items in the first quarter were negative NOK 2,151 thousand (NOK minus 527 thousand).
Results before tax ended at negative NOK -17,657 thousand in the period compared to a loss of NOK 16,075 thousand during first quarter 2012.
Please find the full report for the first quarter enclosed.
For further information please contact:
Jon Olav Ødegård, CEO Hofseth BioCare ASA
Tel +47 936 32 966
E-mail: joo@h-bc.no
Øystein Omvik, CFO Hofseth BioCare ASA
Tel: +47 936 99 400
E-mail: oystein.omvik@h-bc.no
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biomarine company with the key objective to provide high value added biomarine ingredients for human applications. The Company is founded on the core value of sustainability and optimal use of natural resources. Through innovative production technology and logistics, Hofseth BioCare is able to preserve the quality of protein, calcium and oil extracted from fish off-cuts. Products that previously could only be used as animal feed can now be made suitable for human consumption. HBCs objective is thus to contribute to efficient use of marine resources and entering the higher profit market of quality ingredients for human applications.
