BioSource Reports Sales of $29.3 Million for 1999

BioSource International in Camarillo said that sales for 1999 were $29.3 million, compared with $21.9 million reported for 1998.

The company reported net income of $3.6 million or 46 cents per diluted share, compared with a loss of $5.1 million or 68 cents per diluted share for 1998.

The company attributed the increase in sales primarily to internal growth and sales from its QCB subsidiary and BioFluids division, both acquired in December 1998.

“[Last year] was a year of growth for BioSource,” said James H. Chamberlain, president and chief executive. “We integrated the two acquisitions we made at the end of 1998 and installed our wide area network system, which allows all of our U.S. operations to effectively and efficiently communicate with each other.”

BioSource also announced that it has filed a registration statement for a public offering of 4 million shares of common stock, 650,000 of which are being offered by stockholders of the company. The proceeds from this offering will be used for future acquisitions, research and development, working capital and general corporate purposes.

BioSource develops and manufactures immunological reagents and test kits used in biomedical research.