Universal Biosensors posts big jump in service fee

The medical device maker's sales jumped in the first half of the year, but don't expect the company to turn a profit until at least 2014.

Universal Biosensors (UBI) appears to have fully recovered from a product recall earlier this year with sales of its test strips jumping 58% in the first half from a year ago.

The Uncapped 100 company supplies one-time use test strips to LifeScan (a Johnson & Johnson company) for use in a glucose testing device for diabetics, and receives a 1 US cent service fee for every strip sold.

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