Quarterly Sales Rise 12% for Biopool International

Biopool International in Ventura reported a 12% increase in sales for the second quarter of this year, climbing to $2.4 million from $2.1 million in the same period last year.

The reported results are from continuing operations only, eliminating figures from the BCA Division, which was sold April 30.

Net income for the second quarter more than doubled to $299,000 or 4 cents per share, compared with $145,000 or 2 cents per share in the same quarter of 1998.

Michael D. Bick, chairman and chief executive officer, said that prior to the sale of BCA, that division generated approximately half of total revenues but had an immaterial impact on net income.

“The sale of the BCA Division strengthened our balance sheet, as reflected by the elimination of debt and $2.4 million remaining cash,” Bick said. “We also have the BCA facility [in West Chester, Pa.] on the market and expect that sale to result in additional cash for the company.”

Biopool develops test kits to assess and diagnose blood disorders, and toxicology controls used to monitor the presence of drugs of abuse. The company’s product line is sold to hospitals, clinical laboratories, commercial reference laboratories and research institutions.