Business
Biorem First Quarter Sales Rise 14.9%
Jun. 23, 2011 (Canada NewsWire Group) -- GUELPH, ON, June 23, 2011 /CNW/ - BIOREM Inc. (TSXV:...
About this update from Biorem Inc.
[{"type":"text","content":"\n\n\n Jun. 23, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nGUELPH, ON, June 23, 2011 /CNW/ - BIOREM Inc. (TSXV: BRM) announced\n today its results for the first quarter of 2011:\n\n\n\n\n\n\n\n\nFirst quarter ended March 31, \n\n\n\n\n\nInformation in table is in thousands except per share data\n\n\n\n2011 \n\n\n\n2010 \n\n\n\n\n\nREVENUE\n\n\n\n$3,732\n\n\n\n$3,248\n\n\n\n\n\nGROSS PROFIT\n\n\n\n1,366\n\n\n\n1,137\n\n\n\n\n\nRESULTS FROM OPERATING ACTIVITIES\n\n\n\n93\n\n\n\n(661)\n\n\n\n\n\nNET EARNINGS (LOSS)\n\n\n\n(19)\n\n\n\n(817)\n\n\n\n\n\nBASIC EARNINGS PER SHARE\n\n\n\n0.00\n\n\n\n(0.07)\n\n\n\n\n\nDILUTED EARNINGS PER SHARE\n\n\n\n0.00\n\n\n\n(0.07)\n\n\n\n\nQ1, 2011 revenue was $3,732,000, which is up $484,000 or 14.9% over the\n comparative period in the prior year. New orders in the quarter were\n over $2.8 million resulting in a current backlog of $10.6 million. This\n compares to $5.2 million in bookings in Q1, 2010. The Q1, 2011 decrease\n is attributable to the timing of certain larger projects which have\n been delayed to subsequent quarters this year.\n\n\nGross Profit in the quarter was $1,366,000, which has increased $229,000\n or 20.1% over the comparative period in the prior year. The first\n quarter gross margin percentage is up as during the quarter the Company\n recognized revenue from two large contracts which had higher associated\n gross margins. Also as a result of earning higher revenue in the\n quarter, the Company absorbed the fixed Operat...