BioSource Reports 11% Increase in Net Sales

BioSource International Inc. in Camarillo reported net sales of $8.4 million for the quarter ended June 30, compared with $7.6 million reported for the same period in 1999, an increase of 11%.

Excluding a one-time charge of $523,000 in equity underwriting expenses, the company reported 9 cents net income per basic and fully diluted share. When all such items are included, BioSource reported net income available to common stockholders of $382,500 or 5 cents per share, compared with just over $1 million or 14 cents per share a year earlier.

The company attributed the increase in sales primarily to the strong growth of the U.S. genomics market, resulting in strong demand for many of BioSource’s products. The European sales growth was primarily from research products.

“I am very pleased with our operating results this quarter and for the year when I compare them to the same periods last year,” President and Chief Executive James H. Chamberlain said. “We came out of the gates at the start of this year with record sales and have continued on that path again this quarter. With the genomics market making significant advances in scientific research, our products are in demand more now than ever.”

BioSource makes immunological reagents, test kits and other products used in biomedical research.