ELMWOOD PARK, N.J.--(BUSINESS WIRE)--BioReference Laboratories, Inc. (NASDAQ: BRLI) (Except for Per Share Data or where otherwise noted, Numbers are in Thousands) announced record-setting fourth quarter and year-end performance numbers. The Company recorded Q4FY06 revenues of $54,001, the best ever quarter in terms of revenues in corporate history and an increase of 22% over the $44,289 recorded in the fourth quarter, fiscal year 2005. Net income before taxes in Q4FY06 totaled $6,386; an increase of 54% compared with net income before taxes of $4,159 in Q4FY05. Net income after tax for Q4FY06 totaled $3,711 or $.27 per share as compared with $2,776 or $.21 per share in the corresponding quarter in FY05. The effective tax rate in the fourth quarter of FY06 was approximately 42% as compared with 33% in the fourth quarter of FY05. Gross profits on revenues for the current quarter were $28,600 resulting in a margin for gross profit on revenues of 53%, versus the $22,241 reported for the prior fiscal year fourth quarter, which was 50%. Revenue per patient for the fourth quarter of the current fiscal year was $67.00, an increase of 17% over the $57.37 reported for the same quarter of the prior fiscal year. The number of patients served increased 5% to 797 in the current quarter from the prior year fourth quarter total of 761. Esoteric business for the Company was 41% of revenues for the fourth quarter of the current fiscal year. While the Quarter included some results from the acquisitions made in late September, the impact of those numbers was de minimis in light of the late dates of acquisition within the quarter.
