BioSource Reports Hike in Quarterly Net Income
BioSource International in Camarillo announced sales of $5.3 million and net income of $801,314 or 10 cents per diluted share, for the second quarter ended June 30.
A year earlier, sales were $5 million and net income was $772,435 or 9 cents per diluted share.
The increase in quarterly net income compared to a year ago was achieved while BioSource increased its investment in research and development by $154,250 or 29%, company officials said. So far this year, BioSource has introduced 125 new products, primarily as product line extensions.
“The accelerated research and development investment will allow BioSource to introduce two new product lines in the second half of this year,” said James H. Chamberlain, chairman, president and chief executive. “We’re excited by the market potential for both product lines and believe they will generate profitable new revenue in 1999 that will more than offset the incremental R&D; investment.”
BioSource is a supplier of immunological reagents and test kits used in biomedical research. The company offers more than 1,700 products.
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