Biopool International’s Profit Increases 72%

Biopool International Inc. in Ventura said its profit last year jumped 72% on $8.8 million in sales from continuing operations.

Net income increased to $714,000, equal to 9 cents per share, compared with $414,000, or 5 cents, in 1998 when sales were $7.8 million.

Results of operations for prior years have been restated to reflect the upcoming sale of the company’s BCA Division, expected April 30, to Immucor of Norcross, Ga.

Sales from continuing operations in the fourth quarter, ended Dec. 31, increased 20% to $2.3 million, compared with $1.9 million for the previous year’s fourth quarter. Net income in the quarter was $137,000, or 2 cents per share, up from $44,000, or 1 cent per share, for the same period a year earlier.

“We improved overall profitability and refocused our business on our core product line,” said Michael D. Bick, chairman and chief executive. He said the company has been profitable since 1992, but “faced an uncharacteristic decline in revenues and earnings in 1998 and early 1999.”

Bick added that Biopool has never been in better financial condition than it is now.

Biopool manufactures test kits to assess and diagnose blood disorders, and products to monitor the presence of drugs in the body. The company’s product line is sold to hospitals, clinical laboratories, commercial reference laboratories and research institutions.