This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Bio-Reference Laboratories, Inc. Reports Strong Quarterly Results

(Numbers in thousands except per share data or where otherwise noted.) Bio-Reference Laboratories, Inc. (NASDAQ: BRLI) released its second quarter, fiscal year 2012 earnings today for the three months ended April 30. The Company recorded current quarter revenues of $163,388, the highest quarter in corporate history, representing an increase of 19% over the $137,658 recorded in the second quarter, fiscal year 2011. Operating income for Q2FY12 was $16,771, an increase of 26% over the Q2FY11 operating income of $13,313. Net income after taxes in Q2FY12 came in at $9,306, resulting in earnings per share of $.33, up from the prior fiscal year second quarter net income after taxes of $7,211 (pro forma) and EPS of $.26 (pro forma), increases of 29% and 27%, respectively. Gross profit on revenues for the current quarter was $79,479, resulting in a margin for gross profit on revenues of approximately 49%, a 21% improvement over the $65,639 reported for the prior fiscal year second quarter, which resulted in a 48% margin. Revenue per patient for the second quarter of the current fiscal year was $83.21, an increase of 2% over the $81.33 reported for the same quarter of the prior fiscal year. The number of patients served increased 16% to 1,952 in the current quarter from the prior year second quarter total of 1,680. Esoteric business for the Company was 59% of revenues for the second quarter of the current fiscal year compared to 58% in the same quarter of the prior fiscal year. Days Sales Outstanding (DSO) was 81 days compared to Q1FY12 of 91 days and the prior fiscal year second quarter when the DSO was 90 days.

Six-month revenues increased to $313,307, an increase of 21% over the same period revenues of $259,317 in the prior fiscal year. Operating income for the first six months of FY12 was $30,055, an increase of 36% over the prior fiscal year six-month operating income of $22,030. Net income after taxes for the first six months of the current year was $16,671, resulting in an EPS of $.60, an increase of 38% from the prior year same period net income after taxes of $12,046 (pro forma), which resulted in an EPS of $.43 (pro forma). The Company reported gross profit on revenues for the current six-month period of $150,723, resulting in a margin for gross profit on revenues of 48%, up from the prior year same period of $122,444, which resulted in a margin of 47%. The number of patients served increased 19% to 3,766 in the first half of the current year from the prior year same period total of 3,172. Cash flow from operations for the first six months of FY12 was $23,650, up 132% from the prior year same period when cash flow from operations was $10,196 (inclusive of two one-time cash positive events that were excluded in the pro forma P&L.)

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs