ELMWOOD PARK, N.J.--(BUSINESS WIRE)--Bio-Reference Laboratories, Inc. (NASDAQ: BRLI) (Numbers in Thousands Except Per Share Data or where otherwise noted) released its second quarter, fiscal year 2008 earnings today for the three months ending April 30. The Company recorded current quarter revenues of $75,180, the best ever quarter in corporate history and an increase of 23% over the $60,953 recorded in the second quarter, fiscal year 2007. Operating income for Q2FY08 was $6,215, an increase of 6% over the Q2FY07 operating income of $5,859. Net income after taxes in Q2FY08 came in at $3,427 resulting in earnings per share (EPS) of $.25, up from the prior fiscal year second quarter net income after taxes of $3,158 and EPS of $.23. Gross profits on revenues for the current quarter were $36,182 resulting in a margin for gross profit on revenues of over 48%, a 19% improvement over the $30,524 reported for the prior fiscal year second quarter which resulted in a 50% margin. Revenue per patient for the second quarter of the current fiscal year was $70.95, an increase of 8% over the $65.59 reported for the same quarter of the prior fiscal year. The number of patients served increased more than 14% to 1,050 in the current quarter from the prior year second quarter total of 920. Esoteric business for the Company was 47% of revenues for the second quarter of the current fiscal year compared to 44% in the same quarter of the prior fiscal year. Cash flow for the quarter was more than $5.4 million, representing the best cash flow quarter in the Company’s history. The Company further noted that Days Sales Outstanding (DSO) of 109 days compared to Q1FY08 of 120 days and the prior fiscal year same quarter when the DSO were 116 days.
