(BRLI) Bio-Reference Laboratories – This was the second consecutive quarter that the company has surprised and beat estimates

December 26th, 2008

Bio-Reference Laboratories, Inc. (BRLI) share price has been rallying since the company reported excellent fourth-quarter and full-year results last week. The next-year estimate has held steady, pegged at $1.48 per share, a n 8.5% earnings growth projection.

Company Description

Bio-Reference Laboratories, Inc. provides clinical laboratory testing services primarily in the greater New York metropolitan area. The company was founded in 1981 and has a market cap of $364 million.

Fourth-Quarter Results

Bio-Ref Labs chimed-in with impressive fourth-quarter and year-end results on Dec 18. Revenue for the quarter was up 16% from last year to $81.2 million. Income came in at $5.2 million, up from $4.6 million last year.

This produced earnings of 38 cents per share, ahead of estimates by 2 cents. This was the second consecutive quarter that the company has surprised and beat estimates.

Full-Year Results

Full-year revenue was up 20% to $302 million. Full-year income jumped to $15.6 million, producing earnings of $1.12 per share, a 12% increase form last year.

Estimates

Analyst estimate have held steady in spite of the overwhelming volatility sweeping through the economy. The current-year estimate calls for earnings of $1.36 per share. The next-year estimate stands at $1.48, an 8.5% earnings growth projection.

Content Courtesy: Zacks Investment Research

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