Biopool International Reports Improved Financial Results for First Quarter Ended March 31, 1999
VENTURA, Calif.--(BUSINESS WIRE)--May 10, 1999--Biopool International Inc. (OTC BB:BIPL - news) Monday reported results for the first quarter ended March 31, 1999.
Sales for the first quarter of 1999 were $3,907,000, compared with $3,838,000 for the same period one year ago. Income before taxes increased 26 percent to $328,000 in the first quarter from $260,000 in the prior comparable period. Net income rose 10 percent from $182,000 in 1998 to $201,000. Earnings per share (diluted and undiluted) remained at 2 cents per share for both periods.
Michael D. Bick, Ph.D., chairman and chief executive officer of Biopool International, stated: ''Overall, our financial results improved this quarter compared to quarterly results throughout 1998. Reported results for this quarter include the results of operations of our BCA business which, as previously announced, was sold effective April 30, 1999.
''While results for the second quarter of 1999 will contain certain revenues and expenses from the discontinued BCA operations, the third quarter and beyond will reflect the return of Biopool to a pure-play hemostasis company, which has historically been our most profitable activity.''
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 regarding second and third quarter 1999 financial results, which 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, 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.
First Quarter Ended March 31, 1999
(in thousands except share data)
OPERATIONS DATA
Three Months Ended
(Unaudited)
March 31
1999 1998
Sales $ 3,907 $ 3,838
Income before taxes 328 260
Net income 201 182
Income per common and
equivalent share $ 0.02 $ 0.02
Average common and equivalent
shares outstanding 8,566 9,005
BALANCE SHEET DATA
March 31, 1999 Dec. 31, 1998
(Unaudited) (Audited)
Working capital $ 6,002 $ 5,712
Total assets 12,993 13,285
Long-term debt 1,276 1,416
Total shareholders' equity 9,512 9,357
And with the sale to BLUD, and the upcoming sale of the BCA building, they will have nearly 1.20 in cash per share....
You were looking backward GBard, got to look to the future with a bottom fish...... |
