Pharma-Bio Serv earns $8.3M in earnings
Pharma-Bio Serv, a global compliance and validation services consulting solutions provider based in Dorado, announced net revenues for the three and six months ended April 30, 2013 of $8.3 and $15.9 million, an increase of approximately $1.2 and $2.5 million, or 17 percent and 18 percent, respectively, when compared to the same periods last year.
The Puerto Rican company reported net income for the three and six months ended April 30, 2013 of approximately $1.4 and $2.4 million, an increase of $0.2 and $0.1 million, respectively, when compared with the same periods last year.
“We are very pleased with our continued performance in expanding our U.S. presence while efficiently managing our costs,” said Nélida Plaza, acting CEO. “Our growth is a testament to our ability to continue to expand our U.S. market base and increase our lab services business.”
The company attributed its revenue growth for the three and six month-period to growth in the U.S. consulting market and lab services, respectively, which was offset by a decrease in revenues in its Integratek division — an information technology consulting practice — and other minor revenue gains from other company divisions.
Pharma-Bio Serv is a global compliance and validation services consulting solutions provider, headquartered in Puerto Rico, with operations in the U.S, Ireland and Spain. It employs more than 275 leding engineering and life science professionals, quality assurance managers and directors.