TORONTO, ONTARIO--(Marketwired - March 4, 2016) - BioSyent Inc. ("BioSyent") (TSX VENTURE:RX)(OTC PINK:BIOYF) released today a summary of its financial results for the three and twelve months ending December 31, 2015. Key highlights include:
"2015 was a year of continued growth for our business both domestically and in international markets" commented René Goehrum, President and CEO of BioSyent. "It marked the sixth consecutive year of strong revenue, profit and EPS growth. We are proud to have doubled our fully diluted EPS in just two years from $0.13 in 2013 to $0.26 in 2015. This strong sales performance and continued profitability growth has allowed us to re-invest in our business to enhance our product portfolio and competitiveness while simultaneously investing in our people for greater functional capability and capacity. The Company made significant investments in new products in 2015, including Cysview®, an innovative technology that aids in the diagnosis and management of non-muscle-invasive bladder cancer, which we started to promote in Q4 last year. We expect to commence shipment of Cysview® in Q2 2016. Overall, we are well-positioned for continued profitable growth."
The CEO presentation on the Q4 2015 Results is available at the following link: www.biosyent.com/q4-15/
The Company's Audited Consolidated Financial Statements and Management's Discussion & Analysis for the years ended December 31, 2015 and 2014 will be posted on www.sedar.com on March 4, 2016.
For a direct market quote (15 minutes delay) for the TSX Venture Exchange and other Company financial information please visit www.tmxmoney.com.
About BioSyent Inc.
Listed on the TSX Venture Exchange under the trading symbol "RX", BioSyent is a profitable growth-oriented specialty pharmaceutical company focused on in-licensing or acquiring innovative pharmaceutical products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients. BioSyent supports the healthcare professionals that treat these patients by marketing its products through its community, hospital and international business units.
As of the date of this press release, the Company has 14,021,195 shares issued and outstanding.
BioSyent Inc. |
Consolidated Statements of Comprehensive Income |
In Canadian Dollars | Q4 2015 | Q4 2014 | % Change | 2015 | 2014 | % Change | ||||||
Net Revenues | 3,841,862 | 3,058,503 | 26 | % | 15,388,196 | 12,211,127 | 26 | % | ||||
Cost Of Goods Sold | 745,719 | 664,977 | 12 | % | 3,278,442 | 2,680,249 | 22 | % | ||||
Gross Profit | 3,096,143 | 2,393,526 | 29 | % | 12,109,754 | 9,530,878 | 27 | % | ||||
Operating Expenses | 2,046,414 | 1,324,963 | 54 | % | 6,943,750 | 5,204,143 | 33 | % | ||||
Net Income Before Tax | 1,049,729 | 1,068,563 | -2 | % | 5,166,004 | 4,326,735 | 19 | % | ||||
Tax (including Deferred Tax) | 287,127 | 315,364 | -9 | % | 1,401,115 | 1,172,656 | 19 | % | ||||
Net Income After Tax | 762,602 | 753,199 | 1 | % | 3,764,889 | 3,154,079 | 19 | % | ||||
Net Income After Tax % to Net Revenues | 20 | % | 25 | % | 24 | % | 26 | % | ||||
EBITDA | 1,008,662 | 1,056,576 | -5 | % | 5,118,792 | 4,299,963 | 19 | % | ||||
EBITDA % to Net Revenues | 26 | % | 35 | % | 33 | % | 35 | % | ||||
BioSyent Inc. | ||||
Consolidated Statements of Financial Position | ||||
AS AT | December 31, 2015 | December 31, 2014 | % Change | |
ASSETS | ||||
Trade receivables | $ 1,341,668 | $ 624,648 | 115 | % |
Other receivables | 43,610 | 16,043 | 172 | % |
Inventory | 1,744,936 | 1,271,910 | 37 | % |
Prepaid expenses and deposits | 297,791 | 203,532 | 46 | % |
Derivative assets | 34,569 | 142,627 | -76 | % |
Short term investments | 5,322,859 | 999,969 | 432 | % |
Cash and cash equivalents | 4,392,617 | 6,989,171 | -37 | % |
Current Assets | 13,178,050 | 10,247,900 | 29 | % |
Equipment | 230,255 | 156,907 | 47 | % |
Intangible assets | 1,079,488 | 66,720 | 1518 | % |
Deferred tax asset | 120,208 | 173,380 | -31 | % |
TOTAL NON CURRENT ASSETS | 1,429,951 | 397,007 | 260 | % |
TOTAL ASSETS | $ 14,608,001 | $ 10,644,907 | 37 | % |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Current liabilities | $ 2,356,265 | $ 2,461,440 | -4 | % |
Deferred tax liability | 100,254 | 23,375 | 329 | % |
Total Equity | 12,151,482 | 8,160,092 | 49 | % |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 14,608,001 | $ 10,644,907 | 37 | % |
This press release may contain information or statements that are forward-looking. The contents herein represent our judgment, as at the release date, and are subject to risks and uncertainties that may cause actual results or outcomes to be materially different from the forward-looking information or statements. Potential risks may include, but are not limited to, those associated with clinical trials, product development, future revenue, operations, profitability and obtaining regulatory approvals.
The TSX Venture Exchange assumes no responsibility for the accuracy of this release and neither approves nor disapproves of the same.
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