Norway's Genetic Analysis Q1 Gross Margin Hit by US Duties, Currency
Norway's Genetic Analysis Q1 Performance
Norwegian diagnostics firm Genetic Analysis reported a 60% year-over-year increase in Q1 sales revenue, driven by demand for GA-map reagent kits.
Gross Margin Decline Factors
The company's gross margin fell to 73.2%, impacted by US customs duties and a weaker US dollar. Additionally, the company secured new patents in Canada and the US and launched an AI-assisted interpretation platform.
The company did not provide specific guidance or financial outlook for the current quarter or year.
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