Bio-Reference Laboratories Profit Falls On Costs

(RTTNews) - Bio-Reference Laboratories Inc. (BRLI) Thursday reported fourth-quarter net income of $11 million or $0.40 per share, compared with $12.9 million or $0.47 per share last year.

On average, five analysts polled by Thomson Reuters estimated earnings of $0.40 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 18 percent to $192.2 million from $163 million last year. Analysts expected revenue of $192.04 million.

General and administrative costs increased to about $65 million from $51 million a year ago.

For fiscal 2014, the company still expects 10 percent increases in both revenue and net income. Analysts expect revenue growth of 10.8 percent.