BIOQUAL Presents Unaudited Financial Results for Third Quarter of Fiscal Year 2022

BIOQUAL, Inc. (OTC-Pink: BIOQ) reported significant financial results for the nine months ended February 28, 2022, with revenue of $47.81 million, a 16.7% increase compared to $41.07 million in the same period of 2021.

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04/21/2022 - 02:33 PM

ROCKVILLE, Md.--(BUSINESS WIRE)-- BIOQUAL, Inc. (OTC-Pink:BIOQ):

	Nine Months Ended				Three Months Ended
	February 28,				February 28,
	2022		2021		2022		2021
Revenue	$	47,806,600	$	41,070,486	$	17,132,276	$	12,584,303

Income Before Income Tax	$	4,767,636	$	5,942,062	$	1,210,288	$	1,379,460

Net Income	$	3,373,036	$	4,203,962	$	856,588	$	975,960

Basic Earnings per Share
of Common Stock	$	3.77	$	4.70	$	0.96	$	1.09

Diluted Earnings per Share
of Common Stock	$	3.77	$	4.70	$	0.96	$	1.09

Weighted Average
Number of Shares Outstanding
For Basic Earnings Per Share		894,416		893,932		894,416		894,416

Weighted Average
Number of Shares Outstanding
For Diluted Earnings Per Share		894,426		893,932		894,431		894,416

For more detail related to the fiscal year 2022 unaudited third quarter results, please visit our web site at www.bioqual.com.

Statements herein that are not descriptions of historical facts are forward-looking and subject to risks and uncertainties. The forward-looking statements are neither promises nor guarantees, and one should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including risks relating to the ability to continue to extend current government contracts; the Company’s ability to obtain new government or commercial contracts; continued demand for the use of animal models in scientific research; the Company’s ability to obtain sufficient numbers of animal models; the availability of adequate numbers of employees; the Company’s ability to perform under its contracts in accordance with the requirements of the contracts; the actual costs incurred in performing the Company’s contracts and its ability to manage its costs, including its capital expenditures; dependence on third parties; future capital needs; the ability to fund its capital needs through the use of its cash on hand and line of credit; and the future availability and cost of financing/capital sources to the Company.