BioSyent Releases Q3 and Nine Month Results-Q3 Sales Increase 56%, Net Income Up 64%; Nine Month Sales Up 62%, Net Income Up 75%
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 10/20/14 -- BioSyent Inc. ("BioSyent") (TSX VENTURE: RX) released today a summary of its Third Quarter (Q3 2014) and nine months financial results for the three and nine months ending September 30, 2014. Key highlights include:
Total sales for Q3 2014 of $3,632,128, were 56% higher compared to $2,328,064 in the prior year period. Total Sales for nine months ending September 30, 2014 of $9,152,624 were 62% higher than the prior year period.
Pharmaceutical Sales in Q3 2014 increased by 68% from $1,843,566 in Q3 2013 to $3,090,211 in Q3 2014. Total Pharmaceutical Sales for nine months ending September 30, 2014 of $8,326,381 were 72% higher than the prior year period.
Net Income Before Tax for Q3 2014 was $1,350,645, which is 67% higher than $808,749 in Q3 2013. Net Income Before Tax for the nine months ending September 30, 2014 was $3,258,172 or 78% higher than the corresponding prior year period.
Net Income After Tax increased by 64% from $609,749 in Q3 2013 to $1,000,654 in Q3 2014. Net Income After Tax for nine months ending September 30, 2014 was $2,400,880 or 75% higher than the corresponding prior year period.
Basic & Diluted Earnings Per Share (EPS) was $0.07 in Q3 2014 vs. $0.04 in Q3 2013. Basic EPS for the first nine months was $0.17 vs. $0.10 in the corresponding prior year period. Diluted EPS in nine months ending September 30, 2014 was $0.17 vs. $0.09 in corresponding prior year period.
Working capital, which is the difference between current assets and current liabilities, increased by 57% from $4,405,910 as at December 31, 2013 to $6,928,554 as at September 30, 2014. Total Cash included in working capital on September 30, 2014 is $6,454,129. Total Shareholder''s Equity increased by 52% from $4,854,630 at December 31, 2013 to $7,374,047 at September 30, 2014.
The Company plans to launch a new Gastrointestinal product in the fourth quarter of 2014. The Company also received Health Canada approval on one of its three urgent care products and is planning to launch the product in early 2015.
On July 23, 2014 BioSyent Pharma in-licensed a third urgent care product from an existing European partner. This product will be launched after Health Canada approval.
The Company''s Consolidated Financial Statements and Management''s Discussion & Analysis will be posted on on October 20, 2014.
For a direct market quote (15 minutes delay) for the TSX Venture Exchange and other Company financial information please visit .
BioSyent will also release a CEO presentation on the Third Quarter at the following link:
About BioSyent Inc.
Listed on the Toronto Venture Exchange under the trading symbol "RX", BioSyent is a profitable growth oriented specialty pharmaceutical company which searches the globe to in-license or acquire innovative pharmaceutical products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients and supporting the healthcare professionals that treat them.
Once a product of interest has been found, BioSyent then acquires the exclusive rights to the product and manages it through the Canadian governmental regulatory approval process. Once approved, BioSyent markets the product throughout Canada.
At the date of this press release the Company had 13,801,195 shares issued and outstanding.
This press release may contain information or statements that are forward-looking. The contents herein represent our judgment, as at the release date, and are subject to risks and uncertainties that may cause actual results or outcomes to be materially different from the forward-looking information or statements. Potential risks may include, but are not limited to, those associated with clinical trials, product development, future revenue, operations, profitability and obtaining regulatory approvals.
The TSX Venture Exchange assumes no responsibility for the accuracy of this release and neither approves nor disapproves of the same.
Contacts:
Mr. Rene C. Goehrum
President and CEO
BioSyent Inc.
Tel: (905) 206-0013
E-Mail:
Web:
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 20.10.2014 - 06:00 Uhr
Sprache: Deutsch
News-ID 1311014
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
TORONTO, ONTARIO
Phone:
Kategorie:
Alternative
Anmerkungen:
Diese Pressemitteilung wurde bisher 165 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"BioSyent Releases Q3 and Nine Month Results-Q3 Sales Increase 56%, Net Income Up 64%; Nine Month Sales Up 62%, Net Income Up 75%
"
steht unter der journalistisch-redaktionellen Verantwortung von
BioSyent Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
