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 2010 earnings today for the three months ending April 30. The Company recorded current quarter revenues of $110,447, the best ever quarter in corporate history and an increase of 27% over the $87,183 recorded in the second quarter, fiscal year 2009. Operating income for Q2FY10 was $10,852, an increase of 30% over the Q2FY08 operating income of $8,358. Net income after taxes in Q2FY10 came in at $5,787 resulting in earnings per share (EPS) of $.21, up from the prior fiscal year second quarter net income after taxes of $4,630 and EPS of $.17 (adjusted for the 4/19/2010 stock split). Gross profit on revenues for the current quarter were $53,668 resulting in a margin for gross profit on revenues of about 49%, a 27% improvement over the $42,297 reported for the prior fiscal year second quarter which also resulted in a 49% margin. Revenue per patient for the second quarter of the current fiscal year was $80.00, an increase of 4% over the $76.74 reported for the same quarter of the prior fiscal year. The number of patients served increased 22% to 1,370 in the current quarter from the prior year second quarter total of 1,127. Esoteric business for the Company was 56% of revenues for the second quarter of the current fiscal year compared to 52% in the same quarter of the prior fiscal year. The Company further noted that Days Sales Outstanding (DSO) of 95 days compared to Q1FY10 of 101 days and the prior fiscal year second quarter when the DSO were 104 days.
