Printer Friendly

BIOPOOL REPORTS THIRD QUARTER RESULTS

 VENTURA, Calif., Nov. 11 /PRNewswire/ -- Biopool International Inc. (NASDAQ: BIPL) today reported operating results for the three and nine months ended Sept. 30, 1993.
 For the three-month period, Biopool reported net income of $32,629, on sales of $1,032,043. This compares with net income of $145,169, or $.02 per share, on sales of $1,255,038 for the same period last year.
 The company reported net income of $161,736, or $.02 per share, on sales of $3,195,031, for the 1993 year-to-date period, compared with net income of $438,378, or $.07 per share, on sales of $3,908,436 a year ago.
 Biopool's financial results for the 1993 third quarter were negatively impacted by the combination of the continued uncertainty in the Italian medical diagnostics market and the detrimental currency exchange rate of the Swedish Krona, which adversely affected operating results of Biopool AB, according to Michael D. Bick, Ph.D., chairman and chief executive officer.
 "Our Swedish subsidiary company, Biopool AB, is aggressively targeting potential opportunities for both new and expanded sales of our diagnostic test kits in Europe to offset the current decrease in revenues," said Bick. "At the same time, we are continuing the expansion of our Ventura, Calif., manufacturing operations with the installation of new equipment to meet anticipated future demand."
 Additionally, Biopool announced on Nov. 3, 1993, that it filed a submission with the Food and Drug Administration for 510(k) market approval for its new product line of controls used in drug abuse testing. The current market for these controls is estimated to be $30 million annually in the United States alone, or 50 percent of the worldwide market.
 Founded in 1987, Biopool develops, manufactures and markets a full range of test kits to assess and diagnose disorders of blood coagulation, fibrinolysis, platelet function, and the vascular system, as well as test kits to determine thrombotic risk factors. The company's products are sold to hospitals and clinical laboratories worldwide.
 BIOPOOL INTERNATIONAL INC.
 Selected Financial Data
 (Unaudited)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Operations Data
 Sales $1,032,043 $1,255,038 $3,195,031 $3,908,436
 Income before
 non-operating items 36,020 199,552 216,993 530,852
 Net income 32,629 145,169 161,736 438,378
 Net income per share --- $.02 $.02 $.07
 Weighted average
 shares outstanding 7,913,366 6,747,032 7,265,350 6,742,990
 At Sept. 30, 1993 At Dec. 31, 1992
 (Unaudited) (Audited)
 Balance Sheet Data
 Working capital $3,222,396 $1,298,328
 Total assets $5,897,504 $4,094,906
 Long-term debt
 (including current portion) 449,238 587,866
 Total shareholders' equity $4,813,374 $2,556,585
 -0- 11/11/93
 /CONTACT: Michael D. Bick, Ph.D., chairman and CEO, 805-654-0643, or Andrew L. Cerskus (Canada), Ph.D., president and COO, 905-332-9419, both of Biopool; or Kim P. Feazle or Roger S. Pondel of Pondel Parsons & Wilkinson, 310-207-9300/
 (BIPL)


CO: Biopool International Inc. ST: California IN: MTC SU: ERN

LS-LM -- LA011 -- 3089 11/11/93 09:02 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 11, 1993
Words:520
Previous Article:PRO-DEX REPORTS NET INCOME UP 45 PERCENT; PER SHARE INCOME DOUBLES
Next Article:VENTURIAN CORP. REPORTS THIRD QUARTER RESULTS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters