BIOQUAL Presents Unaudited Financial Results for First Quarter of Fiscal Year 2022

Rhea-AI Summary

BIOQUAL, Inc. (OTC-PINK:BIOQ) reported its financial results for the three months ended August 31, 2021. The company achieved revenue of $15,472,759, a rise from $14,920,475 in the same period of 2020. Despite the increase in revenue, net income declined to $1,377,005 compared to $1,766,588 in the prior year. The basic earnings per share decreased to $1.54 from $1.98. The company emphasizes ongoing risks and uncertainties that could impact future performance.

Positive

• Revenue increased to $15,472,759, up from $14,920,475 in 2020.

Negative

• Net income decreased to $1,377,005 from $1,766,588.
• Basic earnings per share dropped to $1.54 from $1.98.

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

					Three Months Ended August 31,
					2021				2020
Revenue					$	15,472,759			$	14,920,475
Income Before Income Tax					$	1,946,405			$	2,496,988
Net Income					$	1,377,005			$	1,766,588
Basic Earnings per Share
of Common Stock					$	1.54			$	1.98
Diluted Earnings per Share
of Common Stock					$	1.54			$	1.98
Weighted Average
Number of Shares Outstanding
For Basic Earnings Per Share						894,416				893,416
Weighted Average
Number of Shares Outstanding
For Diluted Earnings Per Share						894,417				894,030

For more detail related to the fiscal year 2022 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/20211022005365/en/

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

Source: BIOQUAL, Inc.

FAQ

What are BIOQUAL's latest earnings results for Q1 2022?

For the three months ended August 31, 2021, BIOQUAL reported revenue of $15,472,759 and net income of $1,377,005.

How did BIOQUAL's revenue change compared to the previous year?

BIOQUAL's revenue increased to $15,472,759 in 2021 from $14,920,475 in 2020.

What is the basic earnings per share for BIOQUAL?

The basic earnings per share for BIOQUAL decreased to $1.54 from $1.98 year-over-year.

What risks does BIOQUAL highlight in its recent press release?

BIOQUAL mentions risks related to government contracts, demand for animal models, and financing needs.

When was BIOQUAL's financial results announcement made?

The financial results for the quarter ended August 31, 2021, were announced in October 2021.