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Pharma-Bio Serv reports recurring updates as an OTCQB-traded consulting firm providing regulatory affairs, quality, compliance, project management and technology-transfer support to pharmaceutical, biotechnology, chemical, medical device, cosmetic, food and allied products industries. Company announcements primarily cover quarterly and annual operating results, revenue and net income trends, service-portfolio adjustments, cost-structure discipline, client and project activity, and special cash dividends approved by the board.
Pharma-Bio Serv, Inc. (OTCQB:PBSV) reported revenues of approximately $5.0 million for the quarter ending January 31, 2022, marking a $0.5 million increase from the prior year. Net income remained steady at around $0.3 million. The company emphasized its efforts to diversify geographic revenue sources, noting that the continental US and Europe accounted for 33% of total revenues, up from 22% last year. This geographical expansion aims to provide growth opportunities and mitigate risks associated with reliance on specific locations.
Pharma-Bio Serv (OTCQB:PBSV) reported a revenue of $20.1 million for the year ending October 31, 2021, down $1.4 million from the previous year. The net loss was approximately $2.1 million, a decline of $4.1 million year-over-year, largely due to a $5.2 million account receivable provision. An adjusted net income of $1.2 million was also noted, down $0.8 million compared to the prior year. A special dividend of $0.075 per share will be paid on March 15, 2022, to record shareholders as of February 25, 2022.
Pharma-Bio Serv (OTCQB:PBSV) announced a Special Dividend of $0.075 per share for its shareholders, payable on or about January 3, 2022. This dividend will benefit shareholders of record as of the close of business on December 15, 2021. The company specializes in regulatory, compliance, and project management consulting for the pharmaceutical and biotechnology sectors, operating in markets including Puerto Rico, the U.S., Europe, and Latin America. Pharma-Bio Serv continues to emphasize its commitment to providing quality consulting services amidst ongoing industry challenges.
Pharma-Bio Serv (OTCQB:PBSV) reported third-quarter revenues of approximately $4.99 million, down about $1.29 million year-over-year, while nine-month revenues totaled $14.52 million, reflecting a decrease of $2.02 million. However, net income for the same periods increased by $1.58 million and $876,000 to $2.28 million and $2.78 million, respectively, largely due to $1.96 million in PPP loan forgiveness. The company aims to expand its projects in the US, Europe, and Latin America and is actively pursuing mergers and acquisitions.
Pharma-Bio Serv (OTCQB:PBSV) reported Q2 2021 revenues of $5.04 million, down by $606,000 from the previous year, and first-half revenues of $9.53 million, decreasing by $731,000. Net income also fell to $240,000 for the quarter and $508,000 for the half, reflecting declines of $448,000 and $706,000 respectively. The declines are attributed to completed projects in Puerto Rico. The company is focusing on higher-margin business and has formed a Regulatory and Compliance Advisory Board to enhance strategic growth in Europe, LATAM, and the domestic market.
Pharma-Bio Serv, Inc. (OTCQB:PBSV) reported revenues of approximately $4,488,000 for the quarter ending January 31, 2021, a decrease of about $125,000 compared to the previous year. The net income for the same period fell to approximately $268,000, down by approximately $259,000 year-over-year. This decline is primarily due to the completion of projects in Puerto Rico in April 2020. The company is focusing on pursuing higher-margin business and has implemented measures to reduce administrative costs.
Pharma-Bio Serv, Inc. (OTCQB:PBSV) filed its Quarterly Report on Form 10-Q for the quarter ended July 31, 2020. The report highlights the company's ongoing compliance and consulting services to various industries, including pharmaceutical and biotechnology. Additionally, the earnings announcement has been published on the company’s website. Forward-looking statements in the report indicate potential business risks and market uncertainties, including challenges posed by the COVID-19 pandemic. Investors can access key documents under the Investor tab on the company's site.