Pharma-Bio Serv FY2022 net income $1.0M, up from prior loss; revenue $19.4M down 3.5%

Pharma-Bio Serv, Inc.

Revenue for FY ended Oct 31, 2022: ~$19.4M, down ~$0.7M from prior year.
Net income ~$1.0M vs net loss in FY2021; improvement of ~$3.0M.
Prior year included $5.2M accounts receivable provision and $2.0M PPP loan forgiveness.
CEO cites strengthening in continental US and European markets; pursuing strategic acquisitions.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Pharma-Bio Serv, Inc. reported the year ended October 31, 2022 results: revenue approximately $19.4 million, net income approximately $1.0 million.

Period: the year ended October 31, 2022
Revenue: approximately $19.4 million
Net income: approximately $1.0 million
Result: reported results

Exact text from the filing

Today, Pharma-Bio Serv announced that revenues for the year ended October 31, 2022 were approximately $19.4 million, a decrease of approximately $0.7 million when compared to last year. Additionally, net income for the year ended October 31, 2022 was approximately $1.0 million, an improvement of approximately $3.0 million when compared to last year.

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Pharma-Bio Serv, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-001023

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