Bio-Reference Laboratories Beats Estimates (BRLI)

Elmwood Park, New Jersey-based Bio-Reference Laboratories, Inc. BRLI announced on Thursday morning that it narrowly beat consensus Wall Street estimates. Bio-Reference Laboratories, Inc reported that its 4th quarter net income rose to $8.6 million, or 31 cents per share, up from $7.2 million, or 26 cents per share, a year earlier. Bio-Reference Laboratories, Inc. (BRLI) reported revenue of $126.6 million, up from $102.31 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 30 cents per share, on revenue of $124.19 million. CEO Marc D. Grodman said, “Over the past few quarters, the question that we have been repeatedly asked is: Why does BRLI grow? The most simplistic answer is that we have always grown. This has been our 17th year of 20% Compound Annual Growth Rate (CAGR). Our growth is not built upon acquisitions; it has been based on our intimate understanding of the needs of our customers and our ability to address those needs through outstanding service and support and through innovative technology." Bio-Reference Laboratories, Inc closed the previous trading day at $21.46 per share. Analysts covering the company's stock give it a consensus price target of $23.60 per share. Bio-Reference Laboratories, Inc is the fourth largest full service laboratory in the United States and the largest independent regional laboratory in the Northeastern market, primarily a clinical testing laboratory servicing physician offices with concentrations in the focused markets of esoteric testing, molecular diagnostics, anatomical pathology and correctional health care. Read more from Benzinga's Company news.