BioSyent Releases Results for Q1 2018

TORONTO, May 30, 2018 (GLOBE NEWSWIRE) -- BioSyent Inc. (“BioSyent”) (TSX Venture:RX) released today a summary of its financial results for the three months ended March 31, 2018. Key highlights include:
  • First quarter (Q1) 2018 Net Revenues of $4,447,147 increased by 16% versus Q1 2017
  • Q1 2018 Canadian Pharmaceutical Net Revenues of $3,765,638 increased by 12% versus Q1 2017 and International Pharmaceutical Net Revenues of $565,841 increased by 90% versus Q1 2017
  • Q1 2018 EBITDA1 of $1,477,767 increased by 24% versus Q1 2017
  • Q1 2018 Net Income After Tax (NIAT) of $1,143,130 increased by 27% versus Q1 2017
  • Q1 2018 NIAT percentage to Net Revenues of 26% compares to 24% in Q1 2017
  • Q1 2018 Fully Diluted EPS of $0.08 was $0.02 higher than Q1 2017 Fully Diluted EPS of $0.06
  • Fully Diluted EPS for the Trailing Twelve Months ended March 31, 2018 was $0.38 as compared to $0.29 for the Trailing Twelve Months ended March 31, 2017
  • As at March 31, 2018, the Company had cash, cash equivalents, and short term investments totalling $19,639,606 as compared to $19,338,435 as at December 31, 2017 – a 2% increase
  • Total Shareholders’ Equity increased by 6% from $22,212,927 at December 31, 2017 to $23,436,253 at March 31, 2018
  • Return on Equity for the Trailing Twelve Months ended March 31, 2018 was 26% as compared to 28% for the Trailing Twelve Months ended March 31, 2017
“Q1 2018 was BioSyent’s 31st consecutive profitable quarter,” remarked René Goehrum, President and CEO of BioSyent. “Overall, we had a solid start to the year in our Canadian and International pharmaceutical businesses and maintained a healthy net profit margin of 26%. While we are pleased with the sales growth in our International pharmaceutical business, we have come to expect some quarterly variability in this business.  We are also pleased that subsequent to Q1 2018, four additional Canadian hospital sites have recently adopted and ordered our Cysview® product for blue-light cystoscopy.”

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