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Sunday, May 28, 2023

Buoyed by Quarter, BioSource Boosts Guidance

Income from continuing operations at BioSource International Inc. rose 14 percent to $1.1 million for the first quarter ended Mar. 31, leading the company to raise its guidance for the full year. The Camarillo-based life sciences company said net sales from continuing operations increased 11 percent to $12.8 million in part due to favorable foreign exchange rates. Overall, the company’s net income (including the results of discontinued operations) dipped somewhat to $691,000 from $708,000 or $0.07 per share. BioSource said it expected net sales from continuing operations to increase between 10 percent and 15 percent for the year to $49 million to $51 million, reflecting no change from previous guidance. Operating income from continuing operations is expected to increase to $2.5 million to $3.25 million for the full year, instead of previous projections ranging from $2.0 million to $3.0 million.

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