Biopool International reports increased sales and earnings for first quarter.VENTURA, Calif.--(BUSINESS WIRE)--April 25, 1996--Biopool International 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 :BIPL BIPL Biphase Level ) Thursday announced results for first quarter ended March 31, 1996. Sales for the first quarter grew 15 percent to $1.78 million from $1.54 million for the first three months of 1995. Net income nearly doubled to $299,963, or 4 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. , compared with net income of $153,845, or 2 cents per share, for the same period last year. Michael D. Bick, Ph.D., chairman and chief executive officer of Biopool, stated: "During the quarter, we received FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. 510(k) approval to market Biopool's new Bioclot Protein S Assay, a test kit that helps identify and diagnose those individuals who are at risk for developing clotting disorders such as venous thrombosis and pulmonary embolism Pulmonary Embolism Definition Pulmonary embolism is an obstruction of a blood vessel in the lungs, usually due to a blood clot, which blocks a coronary artery. . "After the quarter closed, we received FDA 510(k) pre-market approval to market Biopool's new clotting reagent called Venom-Time, which is used in the clinical laboratory setting to detect abnormal or low levels of fibrinogen Fibrinogen The major clot-forming substrate in the blood plasma of vertebrates. Though fibrinogen represents a small fraction of plasma proteins (normal human plasma has a fibrinogen content of 2–4 mg/ml of a total of 70 mg protein/ml), its conversion , a protein essential to the formation of a blood clot blood clot n. A semisolid, gelatinous mass of coagulated blood that consists of red blood cells, white blood cells, and platelets in a fibrin network. . This new reagent expands Biopool's wide range of reagents and test kits used for the detection and diagnosis of blood clotting blood clotting, process by which the blood coagulates to form solid masses, or clots. In minor injuries, small oval bodies called platelets, or thrombocytes, tend to collect and form plugs in blood vessel openings. disorders." To enhance the company's sales, Biopool recently appointed Michael Frick to the newly created position of sales manager sales manager n → gerente m/f de ventas sales manager n → directeur commercial sales manager sale n → . He will initially concentrate on the Northeastern corridor from Boston to Washington, D.C., targeting the heavy concentration of clinical laboratories in that region. Bick concluded: "While we expect Biopool's existing products to sustain our organic growth rate at approximately 20 percent per year, we recently retained two investment banking firms to assist us in identifying, evaluating, structuring and financing one or more strategic acquisitions. If our efforts are productive, we expect to achieve even greater growth." 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 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, as well as specialty chemistry controls used to monitor and measure the presence of drugs of abuse. The company's products are sold to hospitals and clinical and reference laboratories on a worldwide basis through an extensive network of distributors. -0-
BIOPOOL INTERNATIONAL INC.
First Quarter Ended March 31, 1996
Operations Data
Three months ended
(unaudited)
March 31,
1996 1995
Sales $1,777,885 $1,542,057 Operating income 289,263 173,958 Net income 299,963 153,845 Earnings per share $ 0.04 $ 0.02 Weighted avg. shares outstanding 7,949,343 7,893,366
Balance Sheet Data
March 31, Dec. 31,
1996 1995
(Unaudited) (Audited)
Working capital $ 4,063,839 $ 3,776,755 Total assets $ 7,619,568 $ 7,435,741 Long-term debt $ 666,277 $ 705,428 Total shareholders' equity $ 6,237,755 $ 5,933,944 CONTACT: Biopool International Inc., Ventura Michael D. Bick, 805/654-0643 or Silverman Heller Associates, Los Angeles Lynne P. Farris, 310/208-2550 |
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