BIOPOOL REPORTS FIRST PROFITABLE QUARTER FROM OPERATIONS
BIOPOOL REPORTS FIRST PROFITABLE QUARTER FROM OPERATIONS VENTURA, Calif., May 12 /PRNewswire/ -- Biopool International Inc.
(NASDAQ: BIPL) today reported a marked improvement in financial results for the first quarter, including profitability from operations for the first time in the company's history.
For the three months ended March 31, 1992, the company achieved net income of $121,496, or $.02 per share, compared with a net loss of $48,301, or $.01 per share, for the same period in 1991. Sales for the period rose 68 percent to $1,180,015, from $704,200 in the corresponding 1991 quarter. Michael D. Bick, Ph.D., chief executive officer, said that a significant portion of increased sales was because of the acquisition in January 1992 of Medical Diagnostic Technologies Inc., a privately held company which tory," said Bick. "We are beginning to reap the benefits of our strategic plan, which encompasses enhanced worldwide distribution, new product introductions and the strategic acquisition of MeDiTech." Founded in January 1987, Biopool manufactures and markets a full range of test kits used to assess and diagnose disorders of blood coagulation, fibrinolysis, platelet function and the vascular system. The company has been public since May 1988, and its products are sold to hospitals and clinical laboratories worldwide. BIOPOOL INTERNATIONAL Selected Financial Data (Thousands, except per share) (Unaudited) Three months ended March 31, March 31, 1992 1991 Operations data Sales $1,180,015 $704,200 Income (loss) before non-operating items 139,388 (32,313) Net income (loss) $121,496 ($48,301) Net income (loss) per share $.02 ($.01) Three months Year ended ended March 31, Dec. 31, 1992 1991 (unaudited) Balance Sheet Data Working capital $1,021,037 $680,948 Total assets 3,876,533 2,526,501 Long-term debt 637,266 576,989 Total shareholders' equity 2,161,076 1,036,921 -0- 5/12/92 /CONTACT: Michael D. Bick, Ph.D., CEO, 805-654-0643, or Andrew Cerskus, Ph.D. president, 416-332-9419 (in Canada), both of Biopool International; or Roger Pondel or Kim Feazle of Pondel Parsons & Wilkinson, 310-207-9300, for Biopool International/ (BIPL) CO: Biopool International Inc. ST: California IN: HEA SU: ERN
JL-EH -- LA007 -- 8967 05/12/92 09:06 EDT
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|Date:||May 12, 1992|
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