Business Wire | Oct 22, 2021 11:07AM EDT

BIOQUAL Presents Unaudited Financial Results for First Quarter of Fiscal Year 2022

Oct. 22, 2021

ROCKVILLE, Md.--(BUSINESS WIRE)--Oct. 22, 2021--BIOQUAL, Inc. (OTC-Pink:BIOQ) ( www.bioqual.com):

Three Months Ended August 31,

2021 2020

Revenue $ 15,472,759 $ 14,920,475

Income Before Income Tax $ 1,946,405 $ 2,496,988

Net Income $ 1,377,005 $ 1,766,588

Basic Earnings per Share

of Common Stock $ 1.54 $ 1.98

Diluted Earnings per Share

of Common Stock $ 1.54 $ 1.98

Weighted Average

Number of Shares Outstanding

For Basic Earnings Per Share 894,416 893,416

Weighted Average

Number of Shares Outstanding

For Diluted Earnings Per Share 894,417 894,030

For more detail related to the fiscal year 2022 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. The forward-looking statements are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond the Company's control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements, 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 obtain sufficient numbers of animal models; the availability of adequate numbers of employees; 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)