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VENTURA COUNTY ROUNDUP / BARBARA MURPHY

Biopool Reports Strong Results, FDA Approvals

November 05, 1996|BARBARA MURPHY

Biopool International reported a 21% increase in sales for the third quarter and an 18% increase for the first nine months of the year.

The Ventura-based biotech company posted sales of just over $2 million for the third quarter that ended Sept. 30, up from $1.66 million in the same period last year. Net income was $327,000, or 4 cents per share, versus a loss of $2,460 in the third quarter of 1995.

For the nine-month period, sales were listed at $5.87 million, up from just under $5 million for the comparable period a year ago. Net income increased 133% to just over $1 million, or 13 cents a share, for the first nine months of 1996, compared with net income of $435,000, or 6 cents per share, for the same period in 1995.

"Sales continue to be strong in all product areas," said Michael D. Bick, chief executive officer. "Most notably, we are beginning to realize the efforts of our eastern U.S. sales manager, who joined Biopool in the first quarter of 1996 and has focused on expanding our U.S. distribution network."

During the third quarter, Biopool received Food and Drug Administration approval to market two new products, which are expected to contribute to sales late in the fourth quarter.

Biopool International develops test kits to assess and diagnose a variety of blood disorders as well as specialty chemistry controls used to monitor and measure the presence of illegal drugs. The products are sold to hospitals and laboratories.

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