Biopool International Posts Drop in Earnings
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Biopool International in Ventura reported that sales for the second quarter ended June 30 were $3.9 million, with net income of $145,000, resulting in earnings of 2 cents per share.
In the same period last year, sales were $4.2 million, with net income of $350,000 or 4 cents per share.
The decrease in sales was largely due to the unavailability of an outsourced product distributed by the company, which has been on back order from the supplier since mid-February.
Biopool also recorded nonrecurring restructuring charges of $95,000 for the quarter relating to the closure of its subsidiary, Biopool Canada Inc., which was completed June 30.
Founded in 1987, Biopool develops test kits to assess and diagnose blood disorders, chemistry controls to monitor and measure the presence of drugs of abuse, and serology products to screen for antibodies and group and type whole blood.
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