BIOQUAL Presents Unaudited Financial Results for First Quarter of Fiscal Year 2024

Rhea-AI Summary

BIOQUAL, Inc. reports its unaudited first quarter results for fiscal year 2024.

Positive

• Revenue for the three months ended August 31, 2023, was $15,578,922.
• Income before income tax for the same period was $1,241,183.
• Net income for the first quarter was $899,483.
• The company's basic earnings per share of common stock was $1.01.
• The weighted average number of shares outstanding for basic earnings per share remained the same at 894,416.

Negative

• None.

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

Three Months Ended
August 31,
	2023			2022
Revenue	$	15,578,922		$	15,810,574
Income Before Income Tax	$	1,241,183		$	1,955,660
Net Income	$	899,483		$	1,383,560
Basic Earnings per Share    of Common Stock	$	1.01		$	1.55
Diluted Earnings per Share    of Common Stock	$	1.01		$	1.55
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		894,406			894,405

For more detail related to the fiscal year 2024 unaudited first quarter results, please visit our web site at www.bioqual.com.

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 or 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/20231020643856/en/

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

Source: BIOQUAL, Inc.

FAQ

What was BIOQUAL, Inc.'s revenue for the first quarter of fiscal year 2024?

BIOQUAL, Inc. reported revenue of $15,578,922 for the three months ended August 31, 2023.

What was the net income for BIOQUAL, Inc. in the first quarter?

BIOQUAL, Inc. recorded a net income of $899,483 for the first quarter of fiscal year 2024.

What were the basic earnings per share of common stock for BIOQUAL, Inc. in the first quarter?

BIOQUAL, Inc. had basic earnings per share of common stock of $1.01 for the first quarter.

How many shares were outstanding for basic earnings per share in the first quarter?

The weighted average number of shares outstanding for basic earnings per share was 894,416.