Bio-Reference Laboratories (BRLI) Announces Record First Quarter Revenue, Earnings and Cash Flow from Operations
3/1/2012 6:56:42 AM
ELMWOOD PARK, N.J.--(BUSINESS WIRE)--(except for per share data or where otherwise noted, numbers are in thousands) Bio-Reference Laboratories, Inc. (NASDAQ: BRLI) announces best-ever first quarter results for revenues, earnings and cash. The Company recorded Q1FY12 revenues of $149,919, an increase of 23% over the $121,659 recorded in Q1FY11. Net income before taxes in Q1FY12 totaled $12,966; an increase of 54% compared with pro forma net income before taxes of $8,410 in Q1FY11. Net income after tax for Q1FY12 totaled $7,365 or $.26 per share as compared with pro forma $4,804 or $.17 per share in the corresponding quarter in FY11 (pro forma in Q1FY11 excludes gain from State Tax Refund and loss from sale of corporate aircraft totaling $.11 per share).