Biopool International Reports Improved Financial Results for First Quarter Ended March 31, 1999.VENTURA, Calif.--(BUSINESS WIRE)--May 10, 1999-- Biopool International Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BIPL BIPL Biphase Level ) Monday reported results for the first quarter ended March 31, 1999. Sales for the first quarter of 1999 were $3,907,000, compared with $3,838,000 for the same period one year ago. Income before taxes increased 26 percent to $328,000 in the first quarter from $260,000 in the prior comparable period. Net income rose 10 percent from $182,000 in 1998 to $201,000. Earnings per share (diluted and undiluted) remained at 2 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for both periods. Michael D. Bick, Ph.D., chairman and chief executive officer of Biopool International, stated: "Overall, our financial results improved this quarter compared to quarterly results throughout 1998. Reported results for this quarter include the results of operations of our BCA BCA Business Case Analysis BCA Building Code of Australia BCA Boeing Commercial Airplanes BCA Board of Contract Appeals BCA Boston Center for the Arts BCA Billiard Congress of America BCA Bureau of Criminal Apprehension BCA Breast Cancer Action business which, as previously announced, was sold effective April 30, 1999. "While results for the second quarter of 1999 will contain certain revenues and expenses from the discontinued BCA operations, the third quarter and beyond will reflect the return of Biopool to a pure-play hemostasis hemostasis /he·mo·sta·sis/ (he?mo-sta´sis) (he-mos´tah-sis) 1. the arrest of bleeding by the physiological properties of vasoconstriction and coagulation or by surgical means. 2. company, which has historically been our most profitable activity." Founded in 1987, Biopool International develops, manufactures and markets a full range of test kits to assess and diagnose disorders of blood coagulation Noun 1. blood coagulation - a process in which liquid blood is changed into a semisolid mass (a blood clot) blood clotting clotting, coagulation, curdling - the process of forming semisolid lumps in a liquid , thrombotic thrombotic /throm·bot·ic/ (-bot´ik) pertaining to or affected with thrombosis. throm·bot·ic adj. Relating to, caused by, or characterized by thrombosis. risk factors, fibrinolysis fibrinolysis /fi·bri·nol·y·sis/ (fi?brin-ol´i-sis) dissolution of fibrin by enzymatic action.fibrinolyt´ic fi·bri·nol·y·sis n. pl. , platelet function and the vascular system, and specialty toxicology toxicology, study of poisons, or toxins, from the standpoint of detection, isolation, identification, and determination of their effects on the human body. Toxicology may be considered the branch of pharmacology devoted to the study of the poisonous effects of drugs. controls used to monitor and measure the presence of drugs of abuse. The company's product line is sold to hospitals, clinical laboratories, commercial reference laboratories and research institutions on a worldwide basis by the company's own sales representatives, as well as through an extensive network of distributors. To learn more about Biopool, visit the company's Web site at http://www.biopool.com. This news release contains forward-looking statements regarding second and third quarter 1999 financial results, which are based upon current expectations that involve a number of risks and uncertainties including, but not limited to, technological innovations of competitors, changes in health-care regulations, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. claims, foreign currency fluctuation, product acceptance or changes in government regulation of the company's products, as well as other factors discussed in the company's last report on Form 10-KSB under "Risk Factors." -0-
BIOPOOL INTERNATIONAL INC.
First Quarter Ended March 31, 1999
(in thousands except share data)
OPERATIONS DATA
Three Months Ended
(Unaudited)
March 31
1999 1998
Sales $ 3,907 $ 3,838
Income before taxes 328 260
Net income 201 182
Income per common and
equivalent share $ 0.02 $ 0.02
Average common and equivalent
shares outstanding 8,566 9,005
BALANCE SHEET DATA
March 31, 1999 Dec. 31, 1998
(Unaudited) (Audited)
Working capital $ 6,002 $ 5,712
Total assets 12,993 13,285
Long-term debt 1,276 1,416
Total shareholders' equity 9,512 9,357
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