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Healthway Medical swings into 1Q loss on short-term borrowings

Michelle Zhu
Michelle Zhu8/16/2017 7:24 AM GMT+08  • 2 min read
Healthway Medical swings into 1Q loss on short-term borrowings
SINGAPORE (Aug 16): Healthway Medical Corporation reported a loss of $504,000 for the 1Q17 ended March, compared to $580,000 in profits posted in 1Q16 as finance costs more than doubled from a year ago on short-term borrowings.  
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SINGAPORE (Aug 16): Healthway Medical Corporation reported a loss of $504,000 for the 1Q17 ended March, compared to $580,000 in profits posted in 1Q16 as finance costs more than doubled from a year ago on short-term borrowings.

Revenue for the quarter declined 6.2% to $23.2 million from $24.7 million previously, largely due to lower contributions from the primary healthcare segment.

In line with the lower revenue, medical supplies, consumables and laboratory expenses fell 12.9% to $4.1 million from $4.7 million a year ago.

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