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 2009 earnings today for the three months ending April 30. The Company recorded current quarter revenues of $87,183, the best ever quarter in corporate history and an increase of 16% over the $75,180 recorded in the second quarter, fiscal year 2008. Operating income for Q2FY09 was $8,358, an increase of 34% over the Q2FY08 operating income of $6,215. Net income after taxes in Q2FY09 came in at $4,630 resulting in earnings per share (EPS) of $.33, up from the prior fiscal year second quarter net income after taxes of $3,427 and EPS of $.25. Gross profits on revenues for the current quarter were $42,297 resulting in a margin for gross profit on revenues of about 49%, a 17% improvement over the $36,182 reported for the prior fiscal year second quarter which resulted in a 48% margin. Revenue per patient for the second quarter of the current fiscal year was $76.74, an increase of 8% over the $70.95 reported for the same quarter of the prior fiscal year. The number of patients served increased more than 7% to 1,127 in the current quarter from the prior year second quarter total of 1,050. Esoteric business for the Company was 52% of revenues for the second quarter of the current fiscal year compared to 47% in the same quarter of the prior fiscal year. Cash flow from operations for the quarter was just under $3.4 million positive. The Company further noted that Days Sales Outstanding (DSO) of 104 days compared to Q1FY09 of 115 days and the prior fiscal year same quarter when the DSO were 109 days.
