Pharma-Bio Serv, Inc. Reports Earnings Results for the Year Ended October 31, 2015
January 29, 2016 at 05:27 pm
Share
Pharma-Bio Serv, Inc. reported earnings results for the year ended October 31, 2015. For the year, the company reported total net revenues of $23.4 million for the year ended October 31, 2015, a decrease of approximately $4.2 million, or 15.1%, when compared to last year. The revenue decrease is mainly attributable to a decline from projects in the United States and Europe consulting markets.
Net income was approximately $1.6 million, a decrease of $0.8 million when compared to last year. The decrease was mainly attributable to the decline in revenue, partially offset by a reduction of business development and operational support expenses, and the impact of the effective income tax rates (including Puerto Rico favorable tax grant) over income before tax.
Pharma-Bio Serv, Inc. is a compliance and technology transfer services consulting company. The Company operates through four segments: Puerto Rico technical compliance consulting, United States technical compliance consulting, Europe technical compliance consulting, and Puerto Rico microbiological and chemical laboratory testing division (Lab). The Company provides a range of compliance-related consulting services. The Company provides microbiological testing services and chemical testing services through its laboratory testing facility in Puerto Rico. The Company's technical consulting services include regulatory compliance, validation, technology transfer, engineering, project management and process support. The Company markets its services to pharmaceutical, chemical, biotechnology, medical devices, cosmetic and food industries, and allied products companies in Puerto Rico, the United States, Europe and Brazil.
PHARMA-BIO SERV, INC. 
