Biopool Reports Drop in Sales for 3rd Quarter

Biopool International in Ventura reported that sales for the third quarter that ended Sept. 30 were $3.5 million, compared with $4.3 million for the same period last year.

Net income for the quarter was $43,000, with shares breaking even, compared with $493,000 or 6 cents per share for the same period in 1997.

“Our results for the third quarter, although disappointing, were not completely unexpected, as we were locked out of certain business due to purchasing contracts established by our competitors,” said Michael D. Bick, chairman and chief executive officer.

Despite the problems, the company made significant advancements in the quarter by forming alliances and supply agreements with two major vendors to many of the large U. S. purchasing groups, Bick said. These agreements could begin contributing to earnings in the first quarter of 1999, he said.

Biopool develops and manufactures test kits to assess and diagnose blood disorders, products to monitor and measure the presence of drugs, and serology products used to screen for antibodies, and group and type whole blood.