Pharma-Bio Serv Announces Results for the Quarter Ended January 31, 2013
DORADO, PR--(Marketwire - Mar 20, 2013) - Pharma-Bio Serv. (OTCQB: PBSV), a global compliance and validation services consulting solutions provider, announced net revenues of $7.6 million for the quarter ended January 31, 2013, an increase of approximately $1.3 million, or 20%, compared to the same period in 2012.
The Company reported net income for the quarter ended January 31, 2013 of approximately $1 million, a slight decrease of $0.1 million compared to the same period in 2012.
During the quarter ended January 31, 2013, business development and operations support expenses in the Puerto Rico and United States markets were increased to follow the consulting business favorable revenue trend. In addition, during the quarter ended January 31, 2013, the Company made business development investments in Spain to diversify its European division market.
"We are very pleased with our overall performance, particularly in our U.S. Consulting Services," said Nélida Plaza, Acting Chief Executive Officer, Acting President, Secretary and President of Puerto Rico Operations.
About Pharma-Bio Serv Inc.
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. Pharma-Bio Serv's core business is FDA and international agencies regulatory compliance related services with integrated portfolio services including microbiological and chemical testing services for clients in the Pharmaceutical, Biotechnology, Chemical, Medical Device, Cosmetic, Food and Allied Products industries, at its laboratory testing facility in Puerto Rico. Services also include "Integratek," an information technology consulting practice and "Pharma Serv Academy" a division that provides technical and regulatory standards seminars/training conducted by industry experts. The Company's global team includes more than 275 leading engineering and life science professionals, quality assurance managers and directors.
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the U.S. federal securities laws, which statements may include information regarding the plans, intentions, expectations, future financial performance, or future operating performance of Pharma-Bio Serv. Forward-looking statements are based on the expectations, estimates, or projections of management as of the date of this news release. Although Pharma-Bio Serv's management believes these expectations, estimates, or projections to be reasonable as of the date of this news release, forward-looking statements are inherently subject to significant business risks, economic and competitive uncertainties, or other contingencies which could cause its actual results or performance to differ materially from what may be expressed or implied in the forward-looking statements. Important factors that could cause Pharma-Bio Serv's actual results or performance to differ materially from the forward-looking statements include those set forth in the "Risk Factors" section of Pharma-Bio Serv's Annual Report on Form 10-K for the year ended October 31, 2012 and in its other filings with the Securities and Exchange Commission, which filings are available on www.sec.gov. Pharma-Bio Serv disclaims any intention or obligation to update or revise any forward-looking statements to reflect subsequent events and circumstances, except to the extent required by applicable law.
