Additional discussion of these and other factors affecting the company's business and prospects is contained in the company's periodic filings with the Securities and Exchange Commission.I will now turn the call over to Dr. Marc Grodman, President and Chief Executive Officer. Marc Grodman Delores, thank you very, very much. This past quarter, we posted strong consistent results in terms of virtually every financial metric possible. I believe it's important to spend some time today to put our performance in perspective. Before that, as usual I would like Sam Singer, our CFO to review our results, and then I would like add some additional comments and color following his comments. Sam? Sam Singer Thank you, Marc. Good morning, everyone. During the third quarter fiscal year 2012, which ended on July 31, Bio-Reference recorded net revenues of $172,302,000, the highest quarterly net revenues recorded by the company, compared to $148,029,000 third quarter of the prior fiscal year, an increase of 16%. Gross profit on revenues for the current quarter was $86,049,000 representing a 50% gross profit margin. In the third quarter of the prior year, gross profit on net revenues were $73,432,000, representing a 50% gross profit margin. Earnings per share or net income after taxes were $0.45 per share in the current quarter, versus $0.36 per share in the prior year quarter. Patient count for the current quarter increased to $1,997,000, from $1,745,000 for the prior year quarter, an increase of 14%. Net revenue per patient for the third quarter just ended was $85.65, compared to $84.20 per patient in the same quarter of the prior fiscal year; an increase of 2%. On July 31, 2012, working capital was $140,211,000, a 30% improvement over the $124,266,000 that we reported on October 31, 2011. Our Days Sales Outstanding on July 31, 2012 were 79 days. Our net revenues were $485, 342,609 for the nine-month period ended July 31, 2012, representing a 19% increase over the net revenues for the same nine-month period in the prior fiscal year. Our gross profit on net revenues for the current nine-month period was $2,336,000, $772,000 or 49%, compared to the prior fiscal year of $105,876,000, or 48%.
The number of patients serviced during the current nine-month period was 5,762,000, which were 17% greater than the prior-year comparable quarter. Net revenue per patient for the nine-month period just ended was $83.57, which was 2% greater than the prior year comparable period. Earnings per share on net income were $1.05 per share for the nine-month period just ended, as compare to $0.92 per share in the prior year.Thank you and I'll now turn the call over to Dr. Grodman. Marc Grodman Sam, thank you very much. I wouldn't care what word we use. Impressive, strong, Bio-Reference has demonstrated what we believe is a very impressive track record of growth and expansion for more than two decades and we are extremely pleased and proud to report another successful quarter of earnings, growth and innovation. During the first half of this fiscal year, this current fiscal year, we introduced OnkoMatch, our tumor genotyping program. Inherigen, our pan-ethnic carrier screen, and GenCerv one of the groundbreaking new services in oncology and Women’s Health, and we spent years developing. We believe that these new offerings will pave the way for our continued growth and expansion in future years. Read the rest of this transcript for free on seekingalpha.com