Navamedic ASA: Q1 2018 results
Oslo, May 30, 2018 - Navamedic ASA (OSE: NAVA) reported revenues of NOK 42.6 million in the first quarter of 2018, down from NOK 78.2 million in the same period in 2017, following the planned discontinuation of the Aspen agreement. Excluding Aspen, the revenues for the quarter was -4% and the company strengthened the gross margin to over 30%. Navamedic has appointed a renowned adviser for the process of maximising the value of Sippi® and is evaluating several strategic alternatives for the global Sippi® launch. "The first quarter revenues ended in line with our expectations,