BioReference Laboratories, Inc. Reports 23% Revenue, 20% Patient Count Increase in Solid Quarterly Results

ELMWOOD PARK, N.J.--(BUSINESS WIRE)--BioReference Laboratories, Inc. (NASDAQ: BRLI) (Numbers in Thousands Except Per Share Data or where otherwise noted) released its first quarter, fiscal year 2011 earnings today for the three months ending January 31. The Company had net revenues for the quarter of $121,659, an increase of 23% over the $99,261 of net revenues recorded in the first quarter fiscal year 2010. The net revenue increase was based on patient count of 1,491, an increase of 20% over the prior year quarterly patient count of 1,242. The company reported earnings per share of $.28 (EPS), which were affected by three extraordinary events during the quarter: a sales tax refund from the State of New Jersey, (+$.13); severe weather throughout the country and particularly in the Northeast, impacting both revenues and expenses (-$.03); and expenses associated with the sale of a corporate aircraft, (-$.02).