Universal Biosensors, Inc. (UBI)

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General Information
Company Name: Universal Biosensors, Inc.
Stock Code: UBI
Website: www.universalbiosensors.com
GICS Sub-Industry: Health Care Services
Market Cap ($M): 56
Equiv. Shares (M): 175

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.320 $ 0.320 $ 0.320 $ 0.305 $ 0.320 106,500 0%

Company Overview

Business Description:
Universal Biosensors Inc. (UBI) is a specialist medical diagnostics company focusing on research, development, manufacture and commercialisation of in vitro diagnostic devices for consumer and professional point of care use. UBI has developed a blood glucose monitoring product that is being commercialised globally by LifeScan, Inc. a Johnson & Johnson company.

Strategy Analysis:
UBI's strategy involves: manufacturing blood glucose test strips for LifeScan; providing post market support services to LifeScan in connection with the blood glucose test; continuing to undertake contract research and development work on behalf of LifeScan and seeking to develop additional products in the field of diabetes and blood glucose monitoring for LifeScan; extending the electrochemical cell technology by developing new non-blood glucose tests and; entering into collaborative arrangements or strategic alliances with other life sciences companies or other industry participants to complete the development and commercialisation of UBI's non-blood glucose tests. Universal Biosensors reported net loss of $9.13m for the year ended 31 December 2012. Revenue from ordinary activities were $29.65m. Basic and Diluted EPS were (5.7) cents compared to (9) cents last year. The net operating cash outflow was $3.3m compared to an outflow of $7.16m in the pcp. No dividend was declared.

Financial Summary
Year to Dec NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  A -9.3 -5.3 -- 0.0 0.0 0.0 --
2013  A -11.6 -6.7 -- 0.0 0.0 0.0 --
2012  A -9.1 -5.7 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Capitol Health (CAJ) $488 M 0.7872 -- -- 55.6548 -- -- 0.96 -- --
Universal Biosensors (UBI) $58 M -- -- -- -- -- -- 0.00 -- --
Virtus Health (VRT) $610 M 1.2932 0.1377 0.1163 19.8545 17.4509 15.6333 3.40 3.73 4.00

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
UBI -- -- 2.85 -- 5.89
Market 0.90 16.5 1.31 2.34 1.63
Sector 0.66 23.9 2.83 2.20 2.95

Name Position Start Date
Mr Paul Wright Chief Executive Officer,Managing Director 01 March 2011
Mr Andrew Leslie Denver Executive Chairman 31 December 2002
Dr Colin McLean Adam Non-Executive Director 10 July 2002
Mr Denis Michael Hanley Non-Executive Director 21 September 2001
Mr Andrew Jane Non-Executive Director 15 August 2006
Mr Marshall Heinberg Non-Executive Director 11 January 2010
Mr Christopher Smith Non-Executive Director 27 August 2013

Name Position
Salesh Balak Chief Financial Officer
Cameron David Billingsley Company Secretary

Substantial Shareholders
Holding Name
13,999,077 (7.97%) Aust Executor Trustees SA Ltd
17,451,074 (9.94%) The Principals Cornerstone Fund Pty Ltd
18,675,792 (10.64%) National Nominees Limited
17,794,384 (10.13%) Talu Ventures Pty Ltd and its associates

Calendar of Events
Date Event
18 February 2016 Report (Prelim)
23 July 2015 Report (Interim)
13 April 2015 Report (Annual)
12 March 2015 Report (Annual)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.


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