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 2009 earnings today for the three months ending January 31. Exclusive of a one-time restitution amount resulting from an agreement with a discharged employee, the Company had net revenues from pro forma operating results for the quarter of $75,735, an increase of 13% over the $66,879 of net revenues recorded in the first quarter fiscal year 2008. The net revenue increase was based on patient count of 965, a slight increase over the prior year quarterly patient count of 962. The remainder of the increase in net revenues is attributable to higher revenue per patient, which rose 13% from $68.83 per patient in the same quarter 2008 to $77.79 in the current quarter. Operating income rose to $4,970 in the current fiscal quarter, an increase of 17% over the prior year, same quarter operating income of $4,263. On a fully taxed basis, the Company reported net income from pro forma operating results of $2,663, resulting in a fully diluted EPS on a pro forma operating results basis of $.19 per share compared to the same quarter prior year net income of $2,208 and $.16 per share, increases of 21% and 19% respectively. The Company reported gross profit based on pro forma operating results for the current quarter of $35,695, resulting in a margin for gross profit on revenues of 47% compared to the prior year $31,651, which also resulted in a margin of 47%. Net income based on pro forma operating results before taxes for the current quarter increased 22% to $4,580 from the prior year quarter net income before taxes of $3,743.
