Pharma-Bio Serv revenues fall to $20.1M, posts $2.1M net loss; declares $0.075 special dividend

Pharma-Bio Serv, Inc.

FY 2021 revenue $20.1M, down ~$1.4M YoY; net loss $2.1M vs. prior-year net income of $2.0M.
Net loss driven by $5.2M customer account receivable provision, partially offset by $1.9M PPP loan forgiveness.
Adjusted net income $1.2M, down ~$0.8M YoY; excludes the receivable provision and PPP forgiveness.
Board declares special dividend of $0.075/share, payable March 15, 2022 to holders of record Feb 25, 2022.
Management focusing on U.S. and European markets and value-added M&A for non-organic growth.

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