‘96 Was a Banner Year for Biopool International

Biopool International in Ventura is calling 1996 a “landmark year” after releasing results for its fourth quarter and year ended Dec. 31.

Sales for the year advanced 20% to a record high of $8.02 million from $6.66 million in 1995, while net income increased to $1.29 million or 16 cents per share versus $141,000, or 2 cents a share for the previous year. Included in the 1996 net income is a $400,000 tax benefit.

For the fourth quarter, Biopool sales increased 27% to $2.14 million from $1.68 million in the same quarter of 1995. The company reported net income of $282,000 or 3 cents per share for the quarter, compared with a net loss of $294,000 or 4 cents per share for the same period a year earlier.

“We have successfully implemented many facets of our continued growth strategy,” said Michael D. Bick, chairman and chief executive officer. “The company added two sales managers in 1996 responsible for both the Eastern and Western U.S. who, in turn, have brought on three new distributors covering all 50 states through a combined sales force of nearly 175 representatives.”

Bick said the fourth quarter showed results from the enhanced sales efforts.

In addition, Bick said, eight new products received Food and Drug Administration approval during 1996.

Biopool develops test kits to assess and diagnose various blood disorders, chemistry control kits to monitor and measure illegal drugs and serology products used to screen for antibodies and group and type whole blood.

The company’s products are sold to hospitals, blood banks and clinical and reference laboratories.