Kim Forest Enterprise Co (金萬林), which focuses on molecular testing, reported that its revenue for the previous quarter grew 2.37 times from a year earlier to NT$212.29 million (US$7.57 million) on the back of strong demand for COVID-19 testing.
That buoyed cumulative revenue for the first three quarters of this year to NT$458 million, up 121 percent from a year earlier, the company said in a statement last week.
Local COVID-19 infections have slowed since July. However, demand for testing kits remains strong at hospitals and testing centers, the company said, adding that people working at hospitals, healthcare institutions and airports need to take tests routinely.
Demand for testing kits remains at a comparatively high level and has been robust enough for Kim Forest to achieve economies of scale, it added.
Kim Forest reported gross margin of 41.88 percent in the first half of this year, up from 22.31 percent a year earlier.
Net profit in the first half was NT$34.8 million, ending three years of net losses, with earnings per share of NT$1.18, it said.
Separately, vaccine maker Adimmune Corp (國光生技) last week posted revenue of NT$464 million for last month, up 3.84 percent from a year earlier. That boosted its third-quarter revenue to NT$753 million, an annual increase of 22 percent.
The company attributed the growth to sales of its quadrivalent flu vaccines in Taiwan and to US-based Protein Sciences Corp.
While revenue in the first nine months fell 19 percent year-on-year to NT$848 million due to a high comparison base last year, the company expects revenue for this quarter to be higher than last quarter as the company would be delivering more flu vaccines to the government, it said.
Meanwhile, TTY Biopharm Co Ltd (台灣東洋藥品), another flu vaccine provider, reported that its revenue for last month dropped 4.65 percent year-on-year to NT$389 million, but its cumulative revenue from January to last month rose 1.6 percent to NT$3.06 billion.
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