NEW YORK (GenomeWeb) – BioReference Laboratories announced today that its fourth quarter revenues increased 18 percent year over year with the number of patients served jumping 9 percent.
The Elmwood Park, NJ-based clinical lab firm reported revenues of $227.6 million for its fiscal fourth quarter ended Oct. 31, up from $192.2 million for the fourth quarter of 2013.
The number of patients served grew to 2,550 in the quarter from 2,350 in Q4 2013, while revenue per patient increased 10 percent year over year to $88.67 from $80.80.
BRL posted net income of $18.3 million, or $.66 per share, for the quarter, compared to $11.1 million, or $.40 per share, for Q4 2013.
For FY 2014, BRL reported total revenues of $832.3 million, up 16 percent from $715.4 million in FY 2013. Its net income for the year was $46.8 million, or $1.68 per share, compared to $45.8 million, or $1.65 per share, for FY 2013.
BRL finished its fiscal year with $17.5 million in cash and cash equivalents.