BioReference Laboratories Inc. (BRLI, Financial) filed Quarterly Report for the period ended 2010-07-31.
Bioreference Laboratories Inc. has a market cap of $563.5 million; its shares were traded at around $20.27 with a P/E ratio of 22.5 and P/S ratio of 1.5. BRLI is in the portfolios of Manning & Napier Advisors, Inc.
General and administrative expenses for the three month period ending July 31, 2009 were $37,283 as compared to $46,689 for the quarter ended July 31, 2010, an increase of $9,406 or 25%. This increase is in line with the increase in net revenues.
We realized net income of $8,013 for the three month period ended July 31, 2010, as compared to $6,439 for the three month period ended July 31, 2009, an increase of $1,574 or 24%. Pre-tax income for the period ended July 31, 2010 was $14,578, compared to $11,671 for the three month period ended July 31, 2009, an increase of $2,907 or 25%. The provision for income taxes increased from $5,232 for the three month period ended July 31, 2009 to $6,565 for the period ended July 31, 2010.
General and administrative expenses for the nine month period ended July 31, 2009 were $101,947 as compared to $129,554 for the nine month period ended July 31, 2010. This represents an increase of $27,607 or 27%. This increase is in line with the increase in net revenues.
Pre-tax income for the period ended July 31, 2010 was $32,246 as compared to $25,833 for the period ended July 31, 2009, an increase of $6,413 (25%). The provision for income taxes increased from $11,166 for the period ended July 31, 2009, to $14,442 (29%) for the current nine month period. Our tax rate increased from 43% to 45%. However, on a pro-forma basis our pretax income for the period ended July 31, 2010 would have increased by $8,013 (33%). Our tax provision would have increased by $3,968 or 38%.
Our working capital at July 31, 2010 was $83,601 as compared to $75,984 at October 31, 2009 an increase of $7,617. Our cash position decreased by $354 during the current period. We increased our short term debt by $18,173 and repaid $892 in existing debt. We had current liabilities of $82,079 at July 31, 2010. We generated $3,502 in cash from operations, compared to generating $12,225 in cash from operations for the quarter ended July 31, 2009, an overall decrease of $8,723 in cash generated from operations year over year.
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Bioreference Laboratories Inc. has a market cap of $563.5 million; its shares were traded at around $20.27 with a P/E ratio of 22.5 and P/S ratio of 1.5. BRLI is in the portfolios of Manning & Napier Advisors, Inc.
Highlight of Business Operations:
Cost of Services increased from $48,163 for the three month period ended July 31, 2009 to $60,089 for the three month period ended July 31, 2010, an increase of $11,926 or 25%. This increase in Cost of Services is basically in line with the increase in sales. However, technical and professional salaries increased on average approximately 33%. Most of this increase was attributable to molecular and genetic testing.General and administrative expenses for the three month period ending July 31, 2009 were $37,283 as compared to $46,689 for the quarter ended July 31, 2010, an increase of $9,406 or 25%. This increase is in line with the increase in net revenues.
We realized net income of $8,013 for the three month period ended July 31, 2010, as compared to $6,439 for the three month period ended July 31, 2009, an increase of $1,574 or 24%. Pre-tax income for the period ended July 31, 2010 was $14,578, compared to $11,671 for the three month period ended July 31, 2009, an increase of $2,907 or 25%. The provision for income taxes increased from $5,232 for the three month period ended July 31, 2009 to $6,565 for the period ended July 31, 2010.
General and administrative expenses for the nine month period ended July 31, 2009 were $101,947 as compared to $129,554 for the nine month period ended July 31, 2010. This represents an increase of $27,607 or 27%. This increase is in line with the increase in net revenues.
Pre-tax income for the period ended July 31, 2010 was $32,246 as compared to $25,833 for the period ended July 31, 2009, an increase of $6,413 (25%). The provision for income taxes increased from $11,166 for the period ended July 31, 2009, to $14,442 (29%) for the current nine month period. Our tax rate increased from 43% to 45%. However, on a pro-forma basis our pretax income for the period ended July 31, 2010 would have increased by $8,013 (33%). Our tax provision would have increased by $3,968 or 38%.
Our working capital at July 31, 2010 was $83,601 as compared to $75,984 at October 31, 2009 an increase of $7,617. Our cash position decreased by $354 during the current period. We increased our short term debt by $18,173 and repaid $892 in existing debt. We had current liabilities of $82,079 at July 31, 2010. We generated $3,502 in cash from operations, compared to generating $12,225 in cash from operations for the quarter ended July 31, 2009, an overall decrease of $8,723 in cash generated from operations year over year.
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