Pharma-Bio Serv Announces Results for the Three and Six Months Ended April 30, 2022

Rhea-AI Summary

Pharma-Bio Serv (OTCQB:PBSV) reported revenue of approximately $5.0 million and $10.0 million for the three and six months ended April 30, 2022, marking increases of $0.1 million and $0.5 million respectively compared to the prior year. Net income remained stable at approximately $0.2 million and $0.5 million for the same periods. CEO Mr. Sanchez expressed satisfaction with the company’s consistent performance amidst economic uncertainties, emphasizing a strategy focused on expanding service offerings to existing clients while exploring new growth opportunities.

Positive

• Revenue growth of $0.1 million (3 months) and $0.5 million (6 months) year-over-year.
• Stable net income reflecting consistent operational performance.

Negative

• None.

DORADO, PUERTO RICO / ACCESSWIRE / June 14, 2022 / Pharma-Bio Serv, Inc. ("Pharma-Bio Serv" or the "Company") (OTCQB:PBSV), a compliance, project management and technology transfer support consulting firm providing services to the pharmaceutical, biotechnology, chemical, medical device, cosmetic, food and allied products industries, today announced that revenues for the three and six months ended April 30, 2022 were approximately $5.0 and $10.0 million, respectively, an increase of approximately $0.1 and $0.5 million, respectively, when compared to the same periods last year.

Net income for the three and six months ended April 30, 2022 was approximately $0.2 and $0.5 million, respectively, reflecting no significant change when compared to the same periods last year.

"While uncertainties exist relating to the global economy, we have been able to deliver steady and constant results for our clients and shareholders. We are pleased with the results obtained for the last six months and will continue to execute our strategy which focuses on providing multiple services to our existing clients, while pursuing additional growth opportunities for the Company," stated Mr. Sanchez, Chief Executive Officer of the Company.

About Pharma-Bio Serv, Inc.

Pharma-Bio Serv services the Puerto Rico, United States, Europe and Latin America markets. Pharma-Bio Serv's core business is FDA and international agencies regulatory compliance consulting related services. The Company's global team includes leading engineering and life science professionals, quality assurance managers and directors.

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the U.S. federal securities laws, which statements may include information regarding the plans, intentions, expectations, future financial performance, or future operating performance of Pharma-Bio Serv. Forward-looking statements are based on the expectations, estimates, or projections of management as of the date of this earnings announcement. Although Pharma-Bio Serv's management believes these expectations, estimates, or projections to be reasonable as of the date of this earnings announcement, forward-looking statements are inherently subject to significant business risks, economic uncertainties, and competitive uncertainties, and other factors, which could cause its actual results or performance to differ materially from what may be expressed or implied in the forward-looking statements. Important factors that could cause Pharma-Bio Serv's actual results or performance to differ materially from the forward-looking statements include those set forth in the "Risk Factors" section of Pharma-Bio Serv's Annual Report on Form 10-K for the year ended October 31, 2021, and in its other filings with the Securities and Exchange Commission, which filings are available on www.sec.gov. Pharma-Bio Serv disclaims any intention or obligation to update or revise any forward-looking statements to reflect subsequent events and circumstances, except to the extent required by applicable law.

Company Contact:

Pedro J. Lasanta
Chief Financial Officer
787 278 2709

SOURCE: Pharma-Bio Serv, Inc.

View source version on accesswire.com:
https://www.accesswire.com/705112/Pharma-Bio-Serv-Announces-Results-for-the-Three-and-Six-Months-Ended-April-30-2022

FAQ

What are the revenue figures for Pharma-Bio Serv for the three and six months ended April 30, 2022?

Pharma-Bio Serv reported revenues of approximately $5.0 million for the three months and $10.0 million for the six months ended April 30, 2022.

How did the net income of Pharma-Bio Serv change for the periods ending April 30, 2022?

Net income for the three and six months ended April 30, 2022, was approximately $0.2 million and $0.5 million, respectively, reflecting no significant change compared to the same periods last year.

What future strategies is Pharma-Bio Serv pursuing following their recent earnings report?

Pharma-Bio Serv aims to focus on providing multiple services to existing clients and pursue additional growth opportunities.

What is the stock symbol for Pharma-Bio Serv?

The stock symbol for Pharma-Bio Serv is PBSV.

When was Pharma-Bio Serv's earnings announcement released?

Pharma-Bio Serv's earnings announcement was released on June 14, 2022.