Biopool International Inc. Reports Decrease in Sales

Biopool International Inc. in Ventura reported a drop in first-quarter sales compared with the previous year.

Sales for the quarter ended March 31 were $3.8 million, with net income of $182,000, or 2 cents per share. In the same 1997 quarter, sales were $4.1 million, with net income of $310,000, or 3 cents per share.

Biopool officials said approximately $200,000 of the sales drop was because of the unavailability of an outsourced product distributed by the company, which has been on back order from the supplier since mid-February. A further $78,000 decrease was blamed on the negative impact of the strong U.S. dollar on foreign sales.

Officials said $43,000 of the decrease in earnings was attributable to nonrecurring restructuring charges related to the consolidation of the company’s subsidiary, Biopool Canada Inc.

“While first-quarter sales remain somewhat weak after a slow 1997 fourth quarter, we have returned to profitability,” said Michael D. Bick, chairman and chief executive officer. “Sales would have again been above the $4-million mark for the quarter were it not for the unavailability of the Rh immune globulin product.”

Biopool develops and manufactures test kits to assess and diagnose blood disorders, specialty chemistry controls used to monitor the presence of abusive drugs and products used to screen for antibodies and to group and type whole blood.