Bio-Reference Laboratories (BRLI) Reports 26% increase in Net Income, 22% increase in Net Revenue, 20% increase in Patient Count
8/25/2011 10:36:11 AM
ELMWOOD PARK, N.J.--(BUSINESS WIRE)--Bio-Reference Laboratories, Inc. (NASDAQ: BRLI) (Except for Per Share Data or where otherwise noted, numbers are in thousands) announced that the Company recorded current quarter revenues of $148,029, the best ever quarter in terms of revenues in corporate history and an increase of 22% over the $121,719 recorded in the third quarter, fiscal year 2010. Net income after taxes in Q3FY11 was $10,081 resulting in fully diluted earnings per share (EPS) of $.36, up 26% and 24% respectively from the prior fiscal year third quarter net income after taxes of $8,013 and EPS of $.29. Gross profit on revenues for the current quarter was $73,432 resulting in a margin for gross profit on revenues of 50%, versus the $61,630, and 51%, reported for the prior fiscal year third quarter. Revenue per patient for the third quarter of the current fiscal year was $84.20, an increase of 2% over the $82.70 reported for the same quarter of the prior fiscal year. The number of patients served increased 20% to 1,745 in the current quarter from the prior year third quarter total of 1,460. Esoteric business for the Company was 60% of revenues for the third quarter of the current fiscal year. The Company further noted that Days Sales Outstanding (DSO) were 92 days compared to the prior fiscal year same period when the DSO were 94 days.