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

Rhea-AI Summary

BIOQUAL, Inc. (OTC-Pink: BIOQ) reported its financial results for the six months and three months ended November 30, 2021. Revenue for the six months was $30.67 million, an increase from $28.49 million in the previous year. The company recorded a net income of $2.52 million, compared to $3.23 million year-over-year. Earnings per share were $2.81 basic and diluted. The results reflect a solid performance with a 9% revenue growth, but a decline in net income indicates potential cost management challenges going forward.

Positive

• Revenue increased to $30.67 million from $28.49 million year-over-year.
• Reported earnings per share of $2.81 for both basic and diluted.

Negative

• Net income decreased to $2.52 million from $3.23 million year-over-year.

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

		Six Months Ended November 30,						Three Months Ended November 30,
		2021			2020			2021			2020
Revenue		$	30,674,324		$	28,486,183		$	15,201,565		$	13,565,708
Income Before Income Tax		$	3,557,348		$	4,562,602		$	1,610,943		$	2,065,614
Net Income		$	2,516,448		$	3,228,002		$	1,139,443		$	1,461,414
Basic Earnings per Share of Common Stock		$	2.81		$	3.61		$	1.27		$	1.63
Diluted Earnings per Share of Common Stock		$	2.81		$	3.61		$	1.27		$	1.63
Weighted Average Number of Shares Outstanding For Basic Earnings Per Share			894,416			893,694			894,416			893,976
Weighted Average Number of Shares Outstanding For Diluted Earnings Per Share			893,423			893,694			894,428			893,976

For more detail related to the fiscal year 2022 unaudited second 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 one 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/20220121005329/en/

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

Source: BIOQUAL, Inc.

FAQ

What were BIOQUAL's revenue figures for the second quarter ended November 30, 2021?

BIOQUAL reported revenue of $30.67 million for the second quarter ended November 30, 2021.

How much net income did BIOQUAL report for the three months ended November 30, 2021?

BIOQUAL reported a net income of $2.52 million for the three months ended November 30, 2021.

What is the earnings per share for BIOQUAL in the recent report?

BIOQUAL reported earnings per share of $2.81 for both basic and diluted for the period ending November 30, 2021.