Bio-Reference Laboratories, Inc. Adjusts Guidance and Announces 2002 Year End Earnings Date; Company On Track with Upgraded Guidance For Fiscal 2002.Business Editors ELMWOOD PARK Elmwood Park, village (1990 pop. 23,206), Cook co., NE Ill., a suburb of Chicago; inc. 1914. It is chiefly residential. , N.J.--(BUSINESS WIRE)--Dec. 12, 2002 Bio-Reference Laboratories, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BRLI BRLI Bio Rad Laboratories Inc ) announced today that it will issue year-end results for fiscal year 2002 before the open of market trading on Thursday, January 9, 2003. The Company further announced that it affirms its previously announced estimate regarding revenue increases for the fiscal year and announced that it is upgrading its guidance regarding pre-tax net income to be at least 150% of last year's pre-tax net income. This guidance is in line with or slightly better than current analysts' estimates. Marc D. Grodman M.D., President and Chief Executive Officer commented, "By any financial metric we can apply, Bio-Reference Laboratories had a successful fiscal year ending October 31, 2002. We look forward to continued growth and related performance improvements in the future." About Bio-Reference Laboratories, Inc. The Company is the largest independent regional clinical laboratory in the Northeast and has major market positions in physician offices, nursing homes and correctional institutions. The Company is a full service clinical laboratory with specialty capability, especially in the areas of genomics, oncology, correctional health, and complimentary medicine. PSIMedica, a business unit of the Company, is a clinical knowledge management (CKM CKM Cabibbo-Kobayashi-Maskawa (quark mixing matrix) CKM Certified Knowledge Manager (trademark of Hudson Associates Consulting, Inc. ) organization offering an array of information solutions for reducing healthcare costs and improving quality performance that are based on a flexible, scalable software analytical engine A programmable calculator designed by British scientist Charles Babbage. After his Difference Engine failed its test in 1833, Babbage started the design of the Analytical Engine in 1834. that utilizes all available source information, including claims data, enrollment data, prescription data and laboratory data. The Company provides a comprehensive connectivity solution to physicians that includes disease management, laboratory reporting and ordering, as well as claims eligibility and processing through CareEvolve, its web-based healthcare portal. Statements included in this release that are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ". Statements looking forward in time are included in this release pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to be materially different from any future performance suggested herein. www.bioreference.com |
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