Earnings out on BIPL:
(Applies to: BIPL)
Biopool International Reports Financial Results for Third-Quarter Ended
Sept. 30, 1999
VENTURA, Calif., Nov 11, 1999 (BUSINESS WIRE) -- Biopool International
Inc. (Nasdaq:BIPL) today reported operating results for the third
quarter and nine-month period ended Sept. 30, 1999.
Reported revenue results are from continuing operations only,
eliminating results of the BCA Division, which was sold effective April
30, 1999.
Sales for the third quarter were $2.0 million, compared with $1.7
million for the same period last year. For the nine-month period, sales
were $6.5 million, compared with $5.9 million for the comparable period
in 1998.
Net income for the quarter was $77,000, or $0.01 per share fully
diluted, compared with $43,000, or $0.00 per share, for the same period
in 1998. For the nine-month period, net income was $577,000, or $0.07
per share fully diluted, compared with $370,000, or $0.04 per share, in
1998. In the current nine-month period, approximately $200,000 of net
income was the result of gain on the sale of the company's BCA
Division.
Michael D. Bick, Ph.D., chairman and chief executive officer, stated:
"Our results for the third quarter reflect Biopool's continuing focus
on building our core hemostasis business. Our balance sheet remains
strong, and management continues to evaluate opportunities to
facilitate growth utilizing our strong cash position."
Founded in 1987, Biopool International develops, manufactures and
markets a full range of test kits to assess and diagnose disorders of
blood coagulation, thrombotic risk factors, fibrinolysis, platelet
function and the vascular system, and specialty toxicology controls
used to monitor and measure the presence of drugs of abuse.
The company's product line is sold to hospitals, clinical laboratories,
commercial reference laboratories and research institutions on a
worldwide basis by the company's own sales representatives, as well as
through an extensive network of distributors. To learn more about
Biopool, visit the company's Web site at biopool.com
This news release contains forward-looking statements that are based
upon current expectations that involve a number of risks and
uncertainties including, but not limited to, technological innovations
of competitors, changes in health-care regulations, litigation claims,
foreign currency fluctuation and product acceptance or changes in
government regulation of the company's products, as well as other
factors discussed in the company's last report on Form 10-KSB under
"Risk Factors."
BIOPOOL INTERNATIONAL INC.
Third Quarter and Nine Months Ended Sept. 30, 1999
(in thousands except per share data)
OPERATIONS DATA
Three Months Ended Nine Months Ended
(Unaudited) (Unaudited)
September 30, 1999 1998(a) 1999 1998(a)
Sales from
continuing operations $ 1,984 $ 1,736 $ 6,476 $ 5,906
Income from continuing
operations before taxes 118 61 586 560
Net income 77 43 577 370
Earnings per common and
equivalent share $ 0.01 $ 0.00 $ 0.07 $ 0.04
Diluted shares outstanding 8,308 8,650 8,427 8,845
BALANCE SHEET DATA
Sept. 30, 1999 Dec. 31, 1998(a)
(Unaudited) (Unaudited)
Working capital $ 5,355 $ 3,549
Total assets 11,008 10,470
Total shareholders' equity 9,694 9,357
(a) Restated to conform with 1999 presentation.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX. |
