Biopool Sales Rise 21%, but Legal Fees Cut Income
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Biopool International reported that its 1995 sales exceeded the previous year’s by 21%, with fourth-quarter sales jumping 15% for the period that ended Dec. 31, 1995.
Sales for the year reached a record high of $6.7 million, from $5.5 million in 1994. For the fourth quarter, sales increased 15% to $1.7 million, compared to $1.5 million for the fourth quarter of 1994.
Despite the sales increases, however, Biopool’s net income was eroded by nonrecurring legal expenses associated with litigation that was settled in late December, officials said.
For all of 1995, the company reported net income of $140,817, or 2 cents per share, versus net income of $705,331, or 9 cents per share, for the previous year.
Biopool reported a net loss of $294,085, or 4 cents per share, for the quarter, compared with net income of $156,133, or 2 cents per share, for the same period a year ago.
The company develops, manufactures and markets medical test kits to diagnose a wide range of bleeding disorders and assess cardiovascular risk factors, as well as specialty chemistry controls used for monitoring the presence of drugs.
Biopool’s products are sold to hospitals, clinical laboratories and research institutions worldwide.
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