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SINGAPORE : Mainboard-listed laryngeal mask maker LMA International has posted a 21 per cent on-year drop in its third quarter net profit to US$2.3 million.
Net sales for the three months ended September fell 8.4 per cent to US$25.7 million.
LMA said sales of some of its capital goods in the United States have been affected by the weak financial and economic environment as the budgets of most hospitals were cut.
But it said sales in Australia and New Zealand continued to perform well in the quarter.
R&D expenditure tripled during the period, but LMA said it was part of the company's new strategy to increase its focus on research and development.
Looking ahead, LMA said the general financial and economic environments will continue to impact the medical device market through 2009 and potentially into next year. - CNA /ls
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