Helix BioMedix revenue slips by 32% in Q2 2012

Derma care products manufacturing company Helix BioMedix has reported a decrease in revenue of 32% to $471,000 for the second quarter ended 30 June 2012, compared to $693,000 in the same period in 2011.

The firm posted a net loss of $668,000as against $625,000 during the corresponding period in the last year.

Helix BioMedix revenue decreases in the second quarter were owing to its peptide and consumer product sales and sales to NuGlow Cosmaceuticals, an affiliate, due to the timing of manufacturing and delivery, which was partially countered by growth in license fees.

Helix BioMedix president and chief executive officer Stephen Beatty said license fees in the second quarter remained on the growth track while peptide and consumer product related sales were adversely impacted by the timing of customer orders and manufacturing cycles.

"Revenue growth for the first six months is up 10% over last year and we anticipate continued growth for the remainder of the year due to our ongoing business development programs and increasing peptide utilization by our customers and partners. We also continued to closely manage product and operating costs, while investing in our marketing and patent efforts to secure future growth opportunities," said Beatty.

The firm said its total operating expenses for the second quarter were up by less than 1% to $890,000, rising from $882,000 for the same period in 2011.

Helix BioMedix is a Seattle-based dermatology biotechnology company, whose product lines include OTC Enhancement, Cosmeceuticals and Consumer Market Peptides.

In July 2012, the company launched Apothederm Acne Clarifying Treatment, a new category to the anti-aging and skin brightening product line.