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

Rhea-AI Summary

BIOQUAL, Inc. (OTC-Pink:BIOQ) reported strong financial results for the nine months ended February 28, 2021, with revenues reaching $41,070,486, up from $32,884,055 in the prior year. Net income rose to $4,203,962, compared to $2,936,730 last year. Basic and diluted earnings per share increased significantly to $4.70 and $4.70, respectively. For the third quarter alone, revenues were $12,584,303, higher than $11,593,217 in the same quarter of the previous year. This reflects strong year-over-year growth and improved profitability.

Positive

• Revenue increased by 24% year-over-year to $41,070,486 for the nine-month period.
• Net income rose 43% year-over-year to $4,203,962, indicating strong profitability.
• Basic and diluted EPS increased to $4.70, reflecting significant earnings growth.

Negative

• None.

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

		Nine Months Ended						Three Months Ended
		February 28,			February 29,			February 28,			February 29,
			2021			2020			2021			2020
Revenue		$	41,070,486		$	32,884,055		$	12,584,303		$	11,593,217
Income Before Income Tax		$	5,942,062		$	4,150,830		$	1,379,460		$	1,018,306
Net Income		$	4,203,962		$	2,936,730		$	975,960		$	720,406
Basic Earnings per Share
of Common Stock		$	4.70		$	3.29		$	1.09		$	.81
Diluted Earnings per Share
of Common Stock		$	4.70		$	3.29		$	1.09		$	.81
Weighted Average
Number of Shares Outstanding
For Basic Earnings Per Share			893,932			893,416			894,416			893,416
Weighted Average
Number of Shares Outstanding
For Diluted Earnings Per Share			893,932			893,843			894,416			893,843

For more detail related to the fiscal year 2021 unaudited third 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/20210421005716/en/

FAQ

What were the earnings results for BIOQUAL, Inc. for the nine months ending February 28, 2021?

BIOQUAL reported revenues of $41,070,486 and net income of $4,203,962 for the nine months ending February 28, 2021.

How did BIOQUAL's EPS change in the latest financial report?

The basic and diluted earnings per share for BIOQUAL increased to $4.70 for the nine-month period ending February 28, 2021.

What were the quarterly revenue figures for BIOQUAL for the three months ending February 28, 2021?

For the three months ending February 28, 2021, BIOQUAL reported revenues of $12,584,303.

How does BIOQUAL's income before income tax compare year-over-year?

Income before income tax for BIOQUAL increased to $5,942,062 for the nine months ended February 28, 2021, compared to $4,150,830 for the same period last year.