BIOQUAL Presents Financial Results for Fiscal Year 2024

Rhea-AI Summary

BIOQUAL, Inc. (OTC Pink: BIOQ) has released its financial results for Fiscal Year 2024. The company reported:

• Revenue of $58,590,949, down from $62,663,804 in 2023
• Income Before Income Tax of $476,447, compared to $1,133,242 in 2023
• Net Income of $483,481, a decrease from $835,548 in 2023
• Basic and Diluted Earnings per Share of Common Stock both at $0.54, down from $0.93 in 2023

The Weighted Average Number of Shares Outstanding for both Basic and Diluted Earnings Per Share remained constant at 894,416.

Positive

• Maintained profitability with positive net income of $483,481
• Consistent share count indicates no dilution for shareholders

Negative

• Revenue decreased by 6.5% year-over-year to $58,590,949
• Income Before Income Tax declined by 58% to $476,447
• Net Income dropped by 42.1% to $483,481
• Earnings per Share decreased by 41.9% to $0.54

ROCKVILLE, Md.--(BUSINESS WIRE)-- BIOQUAL, Inc. (OTC Pink: BIOQ) www.bioqual.com:

		2024			2023
Revenue		$	58,590,949		$	62,663,804
Income Before Income Tax		$	476,447		$	1,133,242
Net Income		$	483,481		$	835,548
Basic Earnings per Share of Common Stock		$	.54		$	.93
Diluted Earnings per Share of Common Stock		$	.54		$	.93
Weighted Average
Number of Shares Outstanding
For Basic Earnings Per Share			894,416			894,416
Weighted Average
Number of Shares Outstanding
For Diluted Earnings Per Share			894,416			894,416

Statements herein that are not descriptions of historical facts are forward-looking and subject to risks and uncertainties. The forward-looking statements are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including risks relating to the ability to continue to extend current government contracts; the Company’s ability to obtain new government and commercial contracts; continued demand for the use of animal models in scientific research; the Company’s ability to obtain sufficient numbers of animal models; the availability of adequate numbers of employees; the Company’s ability to perform under its contracts in accordance with the requirements of the contracts; the actual costs incurred in performing the Company’s contracts and its ability to manage its costs, including its capital expenditures; dependence on third parties; future capital needs; the ability to fund its capital needs through the use of its cash on hand and line of credit; and the future availability and cost of financing/capital sources to the Company.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240920095383/en/

Mark G. Lewis, Ph.D., CEO (240-404-7654)

Source: BIOQUAL, Inc.

FAQ

What was BIOQUAL's (BIOQ) revenue for Fiscal Year 2024?

BIOQUAL's revenue for Fiscal Year 2024 was $58,590,949.

How did BIOQUAL's (BIOQ) net income change in Fiscal Year 2024 compared to 2023?

BIOQUAL's net income decreased from $835,548 in 2023 to $483,481 in Fiscal Year 2024, a decline of 42.1%.

What were BIOQUAL's (BIOQ) earnings per share for Fiscal Year 2024?

BIOQUAL's Basic and Diluted Earnings per Share of Common Stock were both $0.54 for Fiscal Year 2024.

Did BIOQUAL (BIOQ) experience revenue growth in Fiscal Year 2024?

No, BIOQUAL experienced a revenue decline in Fiscal Year 2024. Revenue decreased from $62,663,804 in 2023 to $58,590,949 in 2024, a 6.5% decrease.