BIOQUAL Presents Unaudited Financial Results for First Quarter of Fiscal Year 2023

Rhea-AI Summary

BIOQUAL, Inc. (OTC-Pink: BIOQ) reported its fiscal year 2023 first quarter results ending August 31. Revenue increased to $15.81 million, up from $15.47 million in the same quarter last year. Income before tax was $1.96 million, marginally up from $1.95 million. Net income showed a slight increase to $1.38 million, compared to $1.38 million previously. Basic and diluted earnings per share improved to $1.55, reflecting a positive trend in earnings. For complete details, visit www.bioqual.com.

Positive

• Revenue increased to $15.81 million from $15.47 million year-over-year.
• Net income rose to $1.38 million, maintaining previous levels.
• Earnings per share increased to $1.55, compared to $1.54 last year.

Negative

• None.

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

	Three Months Ended August 31,
		2022				2021
Revenue	$	15,810,574			$	15,472,759
Income Before Income Tax	$	1,955,660			$	1,946,405
Net Income	$	1,383,560			$	1,377,005
Basic Earnings per Share of Common Stock	$	1.55			$	1.54
Diluted Earnings per Share of Common Stock	$	1.55			$	1.54
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		894,405				894,417

For more detail related to the fiscal year 2023 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/20221021005450/en/

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

Source: BIOQUAL, Inc.

FAQ

What were BIOQUAL's revenue figures for the first quarter of fiscal year 2023?

BIOQUAL reported revenue of $15.81 million for the first quarter of fiscal year 2023.

How did BIOQUAL's net income change in the first quarter of 2023?

BIOQUAL's net income for the first quarter of 2023 was $1.38 million, which is slightly higher than the previous year's figure.

What is the earnings per share for BIOQUAL for the first quarter of fiscal 2023?

BIOQUAL reported basic and diluted earnings per share of $1.55 for the first quarter of fiscal 2023.

How does BIOQUAL's income before tax compare to the previous year?

Income before income tax for BIOQUAL was $1.96 million, a slight increase from $1.95 million in the same quarter last year.