Bio-Reference Laboratories, Inc. Reports Best Quarterly Revenues and Earnings in Corporate History with 25% Increase in Earnings Per Share

ELMWOOD PARK, N.J.--(BUSINESS WIRE)--(Except for Per Share Data or where otherwise noted, numbers are in thousands) Bio-Reference Laboratories, Inc. (NASDAQ: BRLI) announced that the Company recorded current quarter revenues of $172,302, an increase of 16% over the $148,029 recorded in the third quarter, fiscal year 2011. Net income after taxes in Q3FY11 was $12,596 resulting in fully diluted earnings per share (EPS) of $.45, up 25% and 25% respectively from the prior fiscal year third quarter net income after taxes of $10,081 and EPS of $.36. Gross profit on revenues for the current quarter was $86,049 resulting in a margin for gross profit on revenues of 50%, versus the $73,432, and 50%, reported for the prior fiscal year third quarter. Revenue per patient for the third quarter of the current fiscal year was $85.65, an increase of 2% over the $84.20 reported for the same quarter of the prior fiscal year. The number of patients served increased 14% to 1,997 in the current quarter from the prior year third quarter total of 1,745. The Company further noted that Days Sales Outstanding (DSO) were 79 days compared to the prior fiscal year same period when the DSO were 92 days. Cash flow from operations for the current fiscal quarter was just short of $13,000 compared to approximately $1,300 for the same period in the last fiscal year.