Microbix Q4 preliminary revenue up 57%

Microbix Biosystems (TSX:MBX) expects to report revenue in the range of $3.3-million for the fiscal fourth quarter ended Sept. 30, 2016, an increase of 57% from $2.1-million in the year earlier quarter.

Fourth quarter virology revenue is expected to be in the range of $3.3-million, up 106%, compared with $1.6-million in the fourth quarter of fiscal 2015.

In a statement, Vaughn Embro-Pantalony, president and CEO, said preliminary fiscal 2016 revenue was the highest in the company's history and represents a double-digit increase in virology revenue.

“Despite a weak first quarter, we have delivered three consecutive quarters of exceptionally strong sales, including successive records in the second and fourth quarters of fiscal 2016,” he added. “It is also encouraging that our growth is consistent across most of our customer base and all product groups."

Revenue for all of fiscal 2016 is expected to be in the range of $9.3-million, compared with $8.9-million a year earlier, with virology revenue climbing 13%.

"In terms of fiscal 2017, we are planning for continued solid sales growth based on current order projections by our customers,” Mr. Embro-Pantalony said. Final results for fiscal 2016 will be reported in December.