BioSyent Releases Results for Fourth Quarter and Full Year 2018

BioSyent (TSXV:RX) has announced its financial results for the three and 12 month period ended December 31, 2018.

As quoted in the press release:

• Fourth quarter (Q4) 2018 Net Revenues of $5,910,965 increased by 0.2% versus Q4 2017
• Full year (FY) 2018 Net Revenues of $21,527,028 increased by 4% versus FY 2017
• Q4 2018 Canadian Pharmaceutical Net Revenues of $5,035,460 increased by 2% versus Q4 2017 and International Pharmaceutical Net Revenues of $850,198 decreased by 2% versus Q4 2017
• FY 2018 Canadian Pharmaceutical Net Revenues of $18,541,645 increased by 10% versus FY 2017 and International Pharmaceutical Net Revenues of $2,209,323 decreased by 11% versus FY 2017
• Q4 2018 EBITDA¹ of $2,109,998 increased by 8% versus Q4 2017
• FY 2018 EBITDA¹ of $7,405,988 increased by 7% versus FY 2017
• Q4 2018 Net Income After Tax (NIAT) of $1,671,410 increased by 15% versus Q4 2017
• FY 2018 NIAT of $5,705,386 increased by 10% versus FY 2017
• Q4 2018 NIAT percentage to Net Revenues of 28% compares to 25% in Q4 2017
• FY 2018 NIAT percentage to Net Revenues of 27% compares to 25% in FY 2017
• Q4 2018 Fully Diluted EPS of $0.11 was $0.01 higher than Q4 2017 Fully Diluted EPS of $0.10
• FY 2018 Fully Diluted EPS of $0.39 was $0.03 higher than FY 2017 Fully Diluted EPS of $0.36
• As at December 31, 2018, the Company had cash, cash equivalents, and short term investments totaling $24,425,101 as compared to $19,338,435 as at December 31, 2017 – a 26% increase
• Total Shareholders’ Equity increased by 24% from $22,212,927 at December 31, 2017 to $27,605,662 at December 31, 2018
• Return on Average Equity for the year ended December 31, 2018 was 23%
• Repurchased for cancellation a total of 92,168 common shares between December 14^th and December 31^st, 2018 under a Normal Course Issuer Bid (NCIB) which commenced in December 2018

Click here to read the full press release.