This Day On The Street
Continue to site
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

Bio-Reference Laboratories, Inc. Announces Record Revenues And Earnings For Fourth Quarter And For Full Fiscal Year Despite Effects Of Hurricane Sandy

Dr. Grodman completed his comments by stating: "Last year we continued our guidance, which has been consistent for quite some time. We still believe that we will increase net revenues by greater than 15%. We continue to estimate that we will grow net income by around 20%. The only proviso to that is we still have not accounted for the full impact of Hurricane Sandy. We will remain focused on our future growth and performance and providing the best results for our shareholders, physician clients and the patients they serve."

The Company’s year-end earnings conference call has been scheduled to take place this morning, December 6, 2012 at 10:30 a.m. Eastern Standard Time. The live audio Web cast will be available at the Company’s corporate Web site, and through To listen to the call please go to either Web site ten minutes before the conference call is scheduled to begin. You will need to register as well as download and install any necessary audio software. The Web cast will be archived, on both Web sites, for 30 days following the call.

About BioReference Laboratories, Inc .

BRLI is a clinical testing laboratory offering testing, information and related services to physician offices, clinics, hospitals, employers and governmental units. We believe that we are the fourth largest full-service laboratory in the United States and the largest independent regional laboratory in the Northeastern market. BRLI offers a comprehensive list of laboratory testing services utilized by healthcare providers in the detection, diagnosis, evaluation, monitoring and treatment of diseases. BRLI primarily focuses on esoteric testing, molecular diagnostics, anatomical pathology, women’s health and correctional health care.

Bio-Reference Laboratories, Inc.

Statements of Operations

(Dollars in Thousands Except Per Share Data)



Three Months EndedOctober 31,
    2012       2011
Net Revenues     $176,052       $151,297
Cost of Sales 88,807 76,384
Gross Profit on Revenues 87,245 74,913
General and Administrative 63,842 55,578
Operating Income 23,403 19,335
Other Expense, Net 437 481
Income Before Taxes 22,966 18,854
Taxes 10,077 8,378
Net Income 12,889 10,476
Income Per Share $0.47 $0.37
Number of Shares 27,704,715 27,948,567
Income Per Share (Diluted) $0.46 $0.37
Number of Shares (Diluted) 27,906,191 28,138,047

Twelve Months Ended

October 31,
  2012     Pro Forma 2011***     Actual 2011
Net Revenues $661,661       $558,642       $558,642
Cost of Sales 337,644 287,853 287,853
Gross Profit on Revenues 324,017 270,789 270,789
General and Administrative 247,886 211,015 211,015
Operating Income 76,131 59,774 59,774
Other Expense, Net 1,615 1,584 (5,072)
Income Before Taxes 74,516 58,190 64,846
Taxes 32,360 25,563 28,487
Net Income 42,156 32,627 36,359
Income Per Share $1.52 $1.17 $1.30
Number of Shares 27,742,257 27,971,100 27,971,100
Income Per Share (Diluted) $1.51 $1.16 $1.29
Number of Shares (Diluted) 27,920,920 28,207,358 28,207,358

***Pro Forma excludes gain from NJ Tax Refund, loss from sale of aircraft and NY State Tax refund.

Bio-Reference Laboratories, Inc.

Balance Sheets

(Dollars in Thousands)

October 31,


October 31,

Cash & Cash Equivalents $24,665 $22,013
Accounts Receivable (Net) 153,247 148,060
Plant, Property & Equipment (Net) 50,440 43,567
Intangible Assets (Net) 29,731 30,312
Other Assets 54,264 39,307
Total $312,347 $283,259
Accounts Payable $41,288 $38,612
Revolving Note (478) 18,632
Long-Term Debt 18,047 15,250
Other Liabilities 26,243 20,998
Shareholder’s Equity 227,247 189,767
Total $312,347 $283,259

3 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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,081.89 -49.97 -0.29%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,796.6090 -42.0340 -0.87%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs