BioSyent Releases Third Quarter Results; Record Quarterly

New Post Public Reply Private Reply Replies (0) Message Board

Nov 15, 2012 at 1:41 PM

BioSyent Releases Third Quarter Results; Record Quarterly Sales and Profit: Sales Up 60%, Profit Up 79%

TORONTO, ONTARIO--(Marketwire - Nov 15, 2012) - BioSyent Inc. ("BioSyent") (TSX VENTURE:RX) today released a summary of its Third Quarter (Q3) 2012 financial results.

- Q3 2012 Sales of $1,575,598 sets an all time quarterly record and grew by 60% over Q3 2011
- Q3 2012 Pharmaceutical Sales of $1,180,718 grew by 95% vs. $604,523 in Q3 2011
- Sales for the nine months ended September 30, 2012 of $3,696,201 grew by 76% over the prior year period
- Total Comprehensive Income for Q3, 2012 of $423,015 hit an all time quarterly record and was higher than that of 2011 by 79%
- Total Comprehensive Income for the nine months ended September 30, 2012 of $1,034,828 grew by 196% over the corresponding prior year period
- Cash generation of $878,751 for the nine months ended September 30, 2012 increased by 147% over the corresponding period in 2011
- Q3 2012 basic earnings per share (EPS) were $0.03
- Cumulative Basic EPS over the last 4 consecutive quarters is $0.09

Total Sales for Q3 2012 hit a new quarter record and were $1,575,598 or 60% higher compared to $983,857 in the corresponding prior year period and 30% higher than the immediately preceding quarter (Q2 2012) which had sales of $1,216,115. For the nine months ended September 30, 2012, the Total Sales of $3,696,201 were 76% higher than the corresponding prior year period.

Pharmaceutical Sales were $1,180,718 in Q3 2012, or 95% higher than the corresponding prior year period sales which were $604,523. For the nine months ended September 30, 2012, Pharmaceutical Sales of $2,996,115 were 115% higher than $1,392,334 in the corresponding prior year period.

The Company earned Total Comprehensive Income of $423,015 in Q3 2012, which was 79% higher than the Total Comprehensive Income of $235,999 in Q3 2011. For the nine months ended September 30, 2012, the Total Comprehensive Income of $1,034,828 was 196% higher than $349,452 in the corresponding prior year period.

Working capital has increased by 94% from $1,128,065 as at December 31, 2011 to $2,184,891 as at September 30, 2012. Cash and cash equivalents on September 30, 2012 were 89% of working capital compared to 94% as at December 31, 2011. Total Cash generation for the nine months ended September 30, 2012 of $878,751 increased by 147% over the corresponding prior year period.

The Company''s subsidiary BioSyent Pharma Inc. is completing preparations for a Q1 2013 launch of FeraMAX® Powder which was approved by Health Canada earlier this year.

The Financial Statements and Management''s Discussion & Analysis will be posted on www.sedar.com on November 15, 2012.

As at the date of this press release the Company had 12,921,195 shares issued and outstanding.

For a direct market quote (15 minutes delay) for the TSX Venture Exchange and other Company financial information please visit www.tmxmoney.com.

BioSyent Inc. continues to concentrate on its pharmaceutical strategy to source products that have been successfully developed and proven to be safe and effective; manage these products through the regulatory process and product registration (approval); and once approved, market these products in Canada. The Company is focused on medications that occupy a niche in the market, that are unique either due to complexity of manufacture or provide novel technological or therapeutic advantages, or that are backed by strong partners holding intellectual property rights that are defendable. This strategy allows the Company to market these medications as brands owned by, or licensed to, it.

BioSyent Inc. is a publicly traded specialty pharmaceutical company whose wholly owned subsidiary, BioSyent Pharma Inc., sources, acquires or in-licences pharmaceutical products and markets these products in Canada. Wholly owned BioSyent subsidiary Hedley Technologies Ltd. operates the company''s legacy business marketing bio and health friendly non-chemical insecticides. BioSyent common shares are listed for trading on the TSX Venture Exchange (TSXV) under the symbol RX.

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.

Contact:
BioSyent Inc.
Rene C. Goehrum
President and CEO
www.biosyent.com

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

7-Eleven Rolls Out Korean Flavors in Bold Menu Shift

7-Eleven's New Global Menu Twist October 2026 sees 7-Eleven, Inc. whip out an intriguing move, venturing east with its new Flavors of Korea menu. They're not just changing the game in convenience store aisles; they're dancing to the beat of global flavors—a shake-up fit for the world's largest convenience retailer. Think about bodega basics getting a spicy Korean...

Air Force Enlisted Village: Trailblazing Senior Care

Changing the Senior Living Game for Military Families Out of all the fancy talk shows and slick productions, "All Access hosted by Andy Garcia" managed to hit a real nerve on the quiet, critical shifts happening in the senior living sector. They dug into how Air Force Enlisted Village in Shalimar is taking care of our military families' unsung heroes—the surviving...

JELD-WEN Kicks Off 2027 Senior Notes Exchange

By Caleb Price Updated Oct 28, 2026 Category News Views 164

A Fresh Play: Swapping Old for New With a fresh brew in hand and the latest company maneuvers on the table, JELD-WEN's move to exchange its 4.875% Senior Notes due 2027 for new secured notes maturing in 2031 comes into focus. This ain't just some routine shuffling of papers. They're calling up eligible folks holding onto those old notes, saying, 'Why stick with the old...

Max Stock Gears Up for Q3 Earnings Report Nov. 17

Max Stock's Q3 Earnings Anticipation Ah, it’s that time again—when we wait with bated breath for another round of quarterly earnings. Max Stock Ltd. (TASE: MAXO) is prepping to spill the beans on their third quarter 2026 performance, with a conference call scheduled for November 17. Big day? You bet. Who's Leading the Call? The brains behind the operation, CFO Paz Oz...

Aker BP's Q3 2026: Strong Earnings Fuel Optimism

Third Quarter Overview: Riding the Wave Aker BP's third quarter report is a raucous symphony of successes that have the market nodding in admiration. Marking significant strides with their offshore projects, the company seems to be in a cavalier mood as it boasts higher sales volumes and promising financials. Net production came in at 374 mboepd, dampened slightly by...

Pencil Reinvention Aims to Reduce Classroom Waste

Sharpen Those Ideas: Reinventing the Humble Pencil Every classroom has 'em: pencils chewed up faster than a kid chomping through bubblegum. This ain't new. But dig this—a Chicago teacher's coming in hot with a tweak to extend pencil life. How? By addressing the ol' crumbly eraser issue. You know, the kind that vanishes into thin air right when you need it most. So,...

Life Time's Q3 2026 Results Highlight Solid Growth

Life Time Rolls On With Strong Q3 Performance Sometimes the market hands you pure gold, and that's what Life Time (NYSE: LTH) has right now. They didn't just have a decent quarter; they outright nailed it with a $893.5 million total revenue haul—a hefty 14.2% rise from the prior year. What's driving this ship? Solid growth in membership dues and dynamic personal...

Bitcoin Mortgages: APX Ushers in New Canadian Era

Bitcoin Meets Canadian Mortgages: A Game Changer? Here's a scenario you didn't see coming: Bitcoin, the digital darling of the new millennium, now backing Canadian mortgages. If that doesn't get your financial senses tingling, maybe you haven't been paying attention. APX Lending, a pioneer in digital-asset-backed lending, is kicking open the doors to a fresh financial...

Cohere's CAD $7 Billion Raise Signals AI Power Shift

Changing the Game: Cohere's Massive Series E Raise There's a seismic shift happening up north, and it’s not the aurora borealis. Cohere just announced the initial close of a staggering CAD $7 billion Series E funding round, eyeing a CAD $35.7 billion valuation. If it pans out, it’d be the kind of cash grab that's never been seen in Canadian tech history. Why This...

CallRail's New Insight Tool: Navigating the Competitive Landscape

How CallRail's New Feature Changes the Game Ever sit in a boardroom meeting and wonder what your lead numbers really mean? CallRail just dropped a new feature that could change that. This AI-powered platform is now decking its 225,000 businesses with market insights to not just know their numbers but to understand how they stack up against their competition in the same...