Pharma-Bio Serv Announces Record Total Net Revenues of $33.1 Million & Record Net Income of $4.9 Million for the Year Ended O...
29 Janeiro 2014 - 7:23PM
Marketwired
Pharma-Bio Serv Announces Record Total Net Revenues of $33.1
Million and Record Net Income of $4.9 Million for the Year Ended
October 31, 2013
DORADO, PUERTO RICO--(Marketwired - Jan 29, 2014) -
Pharma-Bio Serv (OTCQB: PBSV), a compliance, project
management and technology transfer support consulting firm,
recently announced record total net revenues of $33.1 million for
the year ended October 31, 2013, an increase of approximately $3.8
million, or 13%, compared to 2012. The United States consulting
market division and the Lab led the revenue improvement for the
year ended October 31, 2013 with an increase in revenues of $2.2
and $1.0 million, respectively, when compared to 2012. Other
company divisions sustained minor revenue changes or remained
constant, when compared to 2012. The revenue growth, offset by
the increase in operational support and business development
expenses, resulted in record net income of approximately $4.9
million for the year ended October 31, 2013, an increase of $0.2
million, or 4.7%, when compared with 2012.
Selling, general and administrative expenses for the year ended
October 31, 2013 were approximately $5.7 million, a net increase in
expenses of approximately $1.6 million as compared to 2012.
"Our record results from operations are a testament to our focus
on core value drivers across our business horizons," said Elizabeth
Plaza, Chairman of the Board of Directors. "We continue to enhance
our strengths while executing on our strategic vision," she
added.
About Pharma-Bio Serv Inc.
Pharma-Bio Serv is a compliance, project management and
technology transfer support consulting firm, headquartered in
Puerto Rico, with operations in the U.S., Ireland and Spain.
Pharma-Bio Serv's core business is FDA and international agencies
regulatory compliance related services with integrated portfolio
services including microbiological and chemical testing services
for clients in the Pharmaceutical, Biotechnology, Chemical, Medical
Device, Cosmetic, Food and Allied Products industries, at its
laboratory testing facility in Puerto Rico. Services also include
"Integratek," an information technology consulting practice, and
"Pharma Serv Academy" a division that provides technical and
regulatory standards seminars/training conducted by industry
experts. The Company's global team includes more than 300 leading
engineering and life science professionals, quality assurance
managers and directors.
Forward Looking Statements
This news release contains "forward-looking statements" within
the meaning of the U.S. federal securities laws, which statements
may include information regarding the plans, intentions,
expectations, future financial performance, or future operating
performance of Pharma-Bio Serv. Forward-looking statements are
based on the expectations, estimates, or projections of management
as of the date of this news release. Although Pharma-Bio Serv's
management believes these expectations, estimates, or projections
to be reasonable as of the date of this news release,
forward-looking statements are inherently subject to significant
business risks, economic and competitive uncertainties, or other
contingencies, which could cause its actual results or performance
to differ materially from what may be expressed or implied in the
forward-looking statements. Important factors that could cause
Pharma-Bio Serv's actual results or performance to differ
materially from the forward-looking statements include those set
forth in the "Risk Factors" section of Pharma-Bio Serv's Annual
Report on Form 10-K for the year ended October 31, 2013 and in its
other filings with the Securities and Exchange Commission, which
filings are available on www.sec.gov. Pharma-Bio Serv disclaims any
intention or obligation to update or revise any forward-looking
statements to reflect subsequent events and circumstances, except
to the extent required by applicable law.
Investor Relations Contact: Scott Gordon President CorProminence
LLC scottg@corprominence.com 631 703 4900
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