BIOQUAL Presents Unaudited Financial Results for Second Quarter of Fiscal Year 2021

Rhea-AI Summary

BIOQUAL, Inc. (OTC Pink: BIOQ) reported its unaudited second quarter results for fiscal year 2021. Revenue increased to $28,486,183 for the six months ended November 30, 2020, compared to $21,290,838 for the same period in 2019. Net income also rose to $3,228,002, up from $2,216,324 year-over-year. The company reported basic earnings per share of $3.61 for the period, reflecting a solid financial performance despite ongoing risks related to government contracts and reliance on third-party services.

Positive

• Revenue increased by 33.0% year-over-year to $28,486,183 for six months ended November 30, 2020.
• Net income improved to $3,228,002, a 45.6% increase compared to the same period in 2019.
• Basic earnings per share rose to $3.61, showing strong profitability.

Negative

• Ongoing risks related to contract renewals and ability to attract new government contracts.
• Dependence on third parties raises uncertainty regarding contract performance.

BIOQUAL, Inc. (OTC Pink: BIOQ) (www.bioqual.com):

		Six Months Ended November 30,						Three Months Ended November 30,
			2020			2019			2020			2019
Revenue		$	28,486,183		$	21,290,838		$	13,565,708		$	11,222,962
Income Before Income Tax		$	4,562,602		$	3,132,524		$	2,065,614		$	1,258,041
Net Income		$	3,228,002		$	2,216,324		$	1,461,414		$	891,841
Basic Earnings per Share
of Common Stock		$	3.61		$	2.48		$	1.63		$	1.00
Diluted Earnings per Share
of Common Stock		$	3.61		$	2.48		$	1.63		$	1.00
Weighted Average
Number of Shares Outstanding
For Basic Earnings Per Share			893,694			893,416			893,976			893,416
Weighted Average
Number of Shares Outstanding
For Diluted Earnings Per Share			893,694			893,838			893,976			893,838

For more detail related to the fiscal year 2021 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. Actual results could differ materially from those currently anticipated due to a number of factors 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 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/20210122005279/en/

FAQ

What are the recent fiscal results for BIOQUAL, Inc. (BIOQ)?

BIOQUAL reported a revenue of $28,486,183 for the six months ended November 30, 2020, which is a 33% increase from last year.

How much did BIOQUAL, Inc. earn in net income for the second quarter of 2021?

The net income for BIOQUAL for the six months ended November 30, 2020, was $3,228,002, up 45.6% from the previous year.

What is the earnings per share reported by BIOQUAL, Inc. for the recent quarter?

BIOQUAL reported basic earnings per share of $3.61 for the six months ended November 30, 2020.

What challenges does BIOQUAL, Inc. face going forward?

BIOQUAL faces risks related to contract extensions and dependence on third-party services, which could affect future performance.