Sept. 7, 2007
BioReference Laboratories Inc (BRLI), Elmwood Park, NJ, announced that the company recorded current quarter revenues of $65,961, and an increase of 35% over the $49,026 recorded in the third quarter, fiscal year 2006.
Net income after taxes in Q3FY07 was $4,189 resulting in fully diluted earnings per share (EPS) of $.30, up 14% from the prior fiscal year third quarter net income after taxes of $3,679 and EPS of $.27. Gross profits on revenues for the current quarter were $33,494 resulting in a margin for gross profit on revenues of 51%, versus the $24,343 reported for the prior fiscal year third quarter, which was 50%. Revenue per patient for the third quarter of the current fiscal year was $68.08, an increase of 11% over the $61.60 reported for the same quarter of the prior fiscal year. The number of patients served increased 22% to 953 in the current quarter from the prior year second quarter total of 783. Esoteric business for the Company was 44% of revenues for the third quarter of the current fiscal year.
“This has been a time of great opportunity in the laboratory industry," said Marc D. Grodman, MD, CEO. Goodman cited the company’s Women’s Healthcare Initiative, the Advanced Cardiovascular test, the CareIndex and PSA Velocity programs, the GenomeDx, and the the Oligonucleotide Microarray Constitutional test for contributing to the company’s success in the New York market.
BRLI is a large independent regional clinical laboratory in the Northeast that serves physician offices, nursing homes and correctional institutions.