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, www.bioreference.com and through www.streetevents.com. 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,
|Cost of Sales||88,807||76,384|
|Gross Profit on Revenues||87,245||74,913|
|General and Administrative||63,842||55,578|
|Other Expense, Net||437||481|
|Income Before Taxes||22,966||18,854|
|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
|2012||Pro Forma 2011***||Actual 2011|
|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|
|Other Expense, Net||1,615||1,584||(5,072)|
|Income Before Taxes||74,516||58,190||64,846|
|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|
Bio-Reference Laboratories, Inc.
(Dollars in Thousands)
|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|
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