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

Rhea-AI Summary

BIOQUAL, Inc. (OTC-Pink: BIOQ) reported significant financial results for the nine months ended February 28, 2022, with revenue of $47.81 million, a 16.7% increase compared to $41.07 million in the same period of 2021. Net income for the nine months was $3.37 million, with basic earnings per share at $3.77 and diluted earnings per share also at $3.77. In the three months ended February 28, 2022, the company achieved revenue of $17.13 million, up from $12.58 million in 2021, and net income reached $856,588, demonstrating profitability growth in a competitive market.

Positive

• Revenue increased by 16.7% year-over-year to $47.81 million for the nine months ended February 28, 2022.
• Net income rose to $3.37 million for the nine months, reflecting improved profitability.
• Earnings per share improved, with basic and diluted EPS at $3.77.

Negative

• Income before income tax decreased to $4.77 million for the nine months, down from $5.94 million in 2021.
• Net income for the three months ended February 28, 2022, declined compared to the prior year.

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

		Nine Months Ended						Three Months Ended
		February 28,						February 28,
		2022			2021			2022			2021
Revenue		$	47,806,600		$	41,070,486		$	17,132,276		$	12,584,303
Income Before Income Tax		$	4,767,636		$	5,942,062		$	1,210,288		$	1,379,460
Net Income		$	3,373,036		$	4,203,962		$	856,588		$	975,960
Basic Earnings per Share
of Common Stock		$	3.77		$	4.70		$	0.96		$	1.09
Diluted Earnings per Share
of Common Stock		$	3.77		$	4.70		$	0.96		$	1.09
Weighted Average
Number of Shares Outstanding
For Basic Earnings Per Share			894,416			893,932			894,416			894,416
Weighted Average
Number of Shares Outstanding
For Diluted Earnings Per Share			894,426			893,932			894,431			894,416

For more detail related to the fiscal year 2022 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. 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/20220421005973/en/

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

Source: BIOQUAL, Inc.

FAQ

What were BIOQUAL's revenue figures for the nine months ended February 28, 2022?

BIOQUAL reported revenue of $47.81 million for the nine months ended February 28, 2022.

How much net income did BIOQUAL achieve for the nine months ended February 28, 2022?

The company achieved a net income of $3.37 million for the nine months ended February 28, 2022.

What is the earnings per share for BIOQUAL for the most recent quarter?

BIOQUAL reported basic and diluted earnings per share of $3.77 for the nine months ended February 28, 2022.

How did BIOQUAL's revenue for the three months ended February 28, 2022, compare to the previous year?

Revenue for the three months ended February 28, 2022, was $17.13 million, up from $12.58 million in the previous year.