Biopool’s Earnings Slip to $153,845 in 1st Quarter
Biopool International, a Ventura-based manufacturer of medical test kits, said its earnings for the first quarter ending March 31 were down 23%, to $153,845 from $200,196 a year earlier, despite a 21% increase in sales during the three-month period.
The lower net income came on record quarterly sales of $1.5 million, up from $1.3 million a year ago.
Michael Bick, chief executive officer, said actions designed to support continued sales growth, including the addition of personnel and the expansion of the company’s manufacturing capability, had increased costs and cut into profits.
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