Pharma-Bio Serv announces $4.5M in revenues for quarter ended Jan. 31
Dorado-based Pharma-Bio Serv Inc. announced that revenues for the quarter ended Jan. 31, 2021 were approximately $4.5 million, a decrease of some $125,000 when compared to the same period last year.
Additionally, net income for the quarter ended Jan. 31, 2021 was approximately $268,000, a decrease of some $259,000 when compared to the same period last year.
The decrease in net income is mainly attributable to the completion of projects in the Puerto Rico market in April 2020, the company said. The company is “actively pursuing” higher margin business and has already taken significant steps to reduce administrative expenses to mitigate margin pressure, it added.
“We continue to execute on our strategy focused on providing our portfolio of services to our clients and pursuing additional growth opportunities for the Company,” said Pharma-Bio Serv Inc. CEO Víctor Sánchez.
Pharma-Bio Serv is a compliance, project management and technology transfer support consulting firm that provides services to the pharmaceutical, biotechnology, chemical, medical device, cosmetic, food and allied products industries.
The company serves the Puerto Rico, United States, Europe and Latin America markets.
Pharma-Bio Serv’s core business is FDA and international agencies regulatory compliance consulting related services. The company’s global team includes engineering and life science professionals, quality assurance managers and directors.