Biosource International Inc

BioSource International Inc., a Camarillo supplier of medical test kits, plans to release about 1.1 million shares of common stock that it has held in escrow since June, 1992. The shares are expected to be released by Dec. 31, upon completion of the company's 1994 financial audit. Release of the shares will result in a onetime charge against BioSource's 1994 earnings.

Bio-Rad Laboratories Inc., which makes mad cow disease screening tests used in 25 countries, offered to buy BioSource International Inc. for more than $82 million Wednesday. Bio-Rad, based in Hercules, Calif., said in a statement that it offered to pay $8.50 for each outstanding share of BioSource. The offer is 26% more than BioSource's closing price Wednesday. Bio-Rad already owns 5% of BioSource shares.

BioSource International Inc., a Camarillo supplier of immunological reagents and test kits used in biomedical research, reported a $218,702 profit for its third quarter ended Sept. 30. A year earlier, BioSource lost $4,849. Its revenue in the latest quarter was $1.45 million, up 46% from $992,534 in the comparable 1992 quarter. For the nine months, BioSource earned $419,021, in contrast with a profit of $3,041 a year before. Its revenue rose 34%, to $4.06 million from $3.03 million.

BioSource International in Camarillo reported record first-quarter sales of $7.3 million, compared to $5.3 million during the same period in 1998. The company reported net income of $820,000, or 11 cents per share, compared to $816,100, or 10 cents per share, for the same quarter last year. BioSource officials said the increase in sales is partly attributable to the acquisition of QCB and Biofluids, which accounted for 24% of the increase.

BioSource International Inc., a Camarillo producer of immunological reagents and test kits used in biomedical research, reports that warrants to purchase 700,000 shares of its common stock were exercised last month for a total price of $932,000. James Chamberlain, president and chief executive, said the purchases mean "practically all" of BioSource's outstanding warrants have been exercised.

BioSource International Inc., the Camarillo-based supplier of biomedical research products, said its net income for the first quarter that ended March 31 was $162,463, up slightly from $160,216 in the same quarter a year earlier. Revenue in the first quarter increased 22% to $1.54 million from $1.26 million the year before. The company said it reduced its administrative and selling costs from the first quarter last year, and more than doubled spending for research and development.

BioSource International Inc., a Camarillo-based supplier of reagents and test kits used in biomedical research, reported a $163,474 profit for the second quarter that ended June 30, more than four times the $40,103 in earnings reported in the year-earlier period. Revenue in the latest quarter was $1.71 million, up 26% from revenue of $1.35 million reported a year earlier. For the first six months of 1994, the company reported earnings of $325,941 on revenue of $3.

BioSource International Inc. said it entered an agreement with Vienna-based Bender MedSystems to develop four new tests to detect and measure levels of antibodies in biomedical tests involving mice. Camarillo-based BioSource will obtain and produce the basic materials and develop protocols for the test kits, which are likely to be used in the study of inflammatory disorders, cancer and AIDS. Bender MedSystems, a subsidiary of the Boehringer-Ingleheim Group, will manufacture the kits in Europe.

Camarillo-based BioSource Industries Inc. says the final regulatory hurdle has been removed to its proposed merger with Burlingame-based Tago Inc. James H. Chamberlain, BioSource's president and chief executive, said the Securities and Exchange Commission approved the registration of securities to be issued to shareholders of the merged company, which will be called BioSource International Inc.

BioSource International Inc., a Camarillo maker of test kits used by the biotechnology industry, expects acquisitions to account for an increasing portion of its growth. "We're very hot on the acquisition trail," Jim Chamberlain, chairman and chief executive, told Bloomberg Business News. Chamberlain said BioSource is holding talks with several companies, "and I think we are getting close to buying at least one, if not more, in the next six to 12 months."

The board of directors for BioSource International in Camarillo has authorized the purchase of up to 250,000 more shares of the company's common stock during the next 12 months. The authorization continues the share-buyback program that began April 22, 1997. The company has purchased all of the 1.2 million shares of stock authorized by the board since the start of the program, at an average share price of $6.44.

BioSource International in Camarillo announced sales of $5.3 million and net income of $801,314 or 10 cents per diluted share, for the second quarter ended June 30. A year earlier, sales were $5 million and net income was $772,435 or 9 cents per diluted share. The increase in quarterly net income compared to a year ago was achieved while BioSource increased its investment in research and development by $154,250 or 29%, company officials said.

BioSource International in Camarillo announced first-quarter sales of $5.3 million and net income of $816,169 or 10 cents per diluted share. A year earlier, BioSource reported revenues of $5.4 million and net income of $862,155 or 10 cents per diluted share. While sales revenue for the 1998 first quarter was the second highest in the company's history, net income was affected by a pretax charge of $158,000 or 2 cents per diluted share for moving expenses.

BioSource International in Camarillo has extended the company's common-stock repurchase program and authorized the purchase of up to 1 million shares by Dec. 23, 1998. BioSource's board of directors voted to extend the program's duration and expand the number of shares that may be purchased. Because of the recent price range of the stock, the board decided to more aggressively buy shares.

Third-quarter results for BioSource International in Camarillo were the second best in the company's history, with revenues of $5.18 million and net income of $855,401--or 10 cents per share--for the three months ending Sept. 30. The figures were comparable to the three months that ended Sept. 30, 1996, when BioSource reported revenues of $5.04 million and net income of $806,380, or 10 cents per share.

Biosource International Inc., the Camarillo-based manufacturer of immunological reagents and test kits used in biomedical research, reported a net income of $855,400 for its third quarter, up 6% from $806,400 a year earlier. Sales for the three months that ended Sept. 30 were $5.2 million, up 4% from $5 million in 1996. For the nine months, earnings rose to $2.5 million, up 32% from $1.9 million a year ago, while revenue rose to $15.7 million, up 45% from $10.8 million.

Camarillo-based BioSource International announced it will restructure certain operations of BioSource Europe, its wholly owned subsidiary headquartered in Fleurus, Belgium. BioSource said the restructuring, primarily affecting operations in Belgium and Italy, is intended to eliminate research and development functions that are duplications of the company's United States operations and to transition its direct-sales strategy in Italy to an exclusive distribution arrangement.