Bio-Reference Laboratories (BRLI) is setting new 52-week highs following its record-breaking quarter.

Company Description

Bio-Referance Laboratories, provides clinical laboratory testing services such as blood and urine analysis in the New York metropolitan area. The company was founded in 1981 and has a market cap of $536 million.

Record-Setting Quarter

On Dec 17 the company reported fourth-quarter revenue of $102 million, Bio-Referance’s highest to date. In the same period last year revenue was $81 million, making this a 26% increase.

Net income was up 37%, to $7.2 million. Earnings per share were 51 cents, 7 cents higher than the Zacks Consensus Estimate, making it the sixth consecutive earnings surprise.

Sustainable Growth

In the same press release, Marc D. Grodman, MD, CEO, said “All aspects of our business have seen growth over the past year. The regional business has flourished, on the basis of better service and better support, our regional infrastructure has become so secure that we have come upon a period of substantial growth.”

Estimates Rising

All 4 covering analysts providing full-year estimates for fiscal 2010 raised their estimates. The Zacks Consensus is up 9 cents to $1.77. This level represents a growth rate of 18%. Next year’s projections are averaging $2.12, a 19% growth rate.

The Chart

Shares of BRLI surged following the latest earnings news. The stock continues to pressure the recently set 52-week high. Take a look at the cart below.

Bill Wilton is the Growth Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Growth Trader service

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