Business Wire | Oct 21, 2020 12:26PM EDT

BIOQUAL Presents Unaudited Financial Results for First Quarter of Fiscal Year 2021

Oct. 21, 2020

ROCKVILLE, Md.--(BUSINESS WIRE)--Oct. 21, 2020--BIOQUAL, Inc. (OTC Pink: BIOQ) (www.bioqual.com):

Three Months Ended August 31,

2020 2019



Revenue $ 14,920,475 $ 10,067,876

Income Before Income Tax $ 2,496,988 $ 1,874,483

Net Income $ 1,766,588 $ 1,324,483

Basic Earnings per Share

of Common Stock $ 1.98 $ 1.48

Diluted Earnings per Share

of Common Stock $ 1.98 $ 1.48

Weighted Average

Number of Shares Outstanding

For Basic Earnings Per Share 893,416 893,416

Weighted Average

Number of Shares Outstanding

For Diluted Earnings Per Share 894,030 893,648

For more detail related to the fiscal year 2021 unaudited first quarter results, please visit our web site at www.bioqual.com.

Statements herein that are not descriptions of historical facts are forward-looking and subject to risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors including risks relating to the ability to continue to extend current government contracts; the Company's ability to obtain new government or commercial contracts; continued demand for the use of animal models in scientific research; the Company's ability to perform under its contracts in accordance with the requirements of the contracts; the actual costs incurred in performing the Company's contracts and its ability to manage its costs, including its capital expenditures; dependence on third parties; future capital needs; the ability to fund its capital needs through the use of its cash on hand and line of credit; and the future availability and cost of financing/capital sources to the Company.

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CONTACT: Mark G. Lewis, Ph.D., CEO (240-404-7654)