BioSyent Releases Q1 2017 Results

TORONTO, ONTARIO--(Marketwired - May 25, 2017) - BioSyent Inc. ("BioSyent") (TSX VENTURE:RX) released today a summary of its financial results for the three months ended March 31, 2017. Key highlights include:

• First quarter (Q1) 2017 Net Revenues of $3,821,262 increased by 1% versus Q1 2016
• Q1 2017 Pharmaceutical Net Revenues of $3,652,834 increased by 3% versus Q1 2016 with Canadian Pharmaceutical Net Revenues of $3,354,697 increasing by 2% versus Q1 2016 and International Pharmaceutical Net Revenues of $298,137 increasing by 17% versus Q1 2016
• Q1 2017 EBITDA¹ of $1,191,324 decreased by 6% versus Q1 2016
• Q1 2017 Net Income After Tax (NIAT) of $901,556 decreased by 5% versus Q1 2016
• Q1 2017 NIAT percentage to Net Revenues of 24% compares to 25% in Q1 2016
• Q1 2017 Fully Diluted EPS was $0.06 as compared to $0.07 in Q1 2016
• Trailing Twelve Months Fully Diluted EPS was $0.29 for the twelve months ended March 31, 2017 as compared to $0.26 for the twelve months ended March 31, 2016
• As at March 31, 2017, the Company had cash, cash equivalents, and short term investments totalling $14,044,597 as compared to $13,739,286 as at December 31, 2016 - a 2% increase
• Working capital increased by 6% from $15,184,016 as at December 31, 2016 to $16,097,367 as at March 31, 2017
• The Company remains free of long-term debt and has available total credit facilities of $2,559,000 including an unutilized revolving demand credit facility of $1,500,000
• Total Shareholders' Equity increased by 6% from $16,726,716 at December 31, 2016 to $17,718,668 at March 31, 2017
• Trailing Twelve Months Return on Equity for the twelve months ended March 31, 2017 was 28% as compared to 34% for the twelve months ended March 31, 2016
  
  

"Q1 2017 marked BioSyent's 27th consecutive profitable quarter" remarked René Goehrum, President and CEO of BioSyent. "While we maintained a healthy net profit margin, Q1 2017 growth was somewhat constrained, in part, by the lower inventory carrying levels of our Canadian pharmaceutical wholesaler customers which limited our sales of FeraMAX^® during the quarter. As we continue to advance launch stage products in our Canadian hospital business, such as CYSVIEW^® and the Aguettant System^® line of pre-filled syringes, and with the bulk of our 2017 international pharmaceutical business coming in the last nine months of 2017, we are confident in the capacity of our product portfolio to deliver the growth that we expect in 2017. We are also encouraged by a recently announced national survey of physicians and pharmacists which recognized our FeraMAX^® brand as the #1 recommended iron supplement brand in Canada for the second consecutive year."

The CEO's presentation on the Q1 2017 Results is available at the following link: www.biosyent.com/q1-17/

The Company's Interim Unaudited Condensed Consolidated Financial Statements and Management's Discussion and Analysis for the three months ended March 31, 2017 and 2016 will be posted on www.sedar.com on May 25, 2017.

For a direct market quote (15 minutes delay) for the TSX Venture Exchange and other Company financial information please visit www.tmxmoney.com.

About BioSyent Inc.

Listed on the TSX Venture Exchange under the trading symbol "RX", BioSyent is a profitable growth-oriented specialty pharmaceutical company focused on in-licensing or acquiring innovative pharmaceutical and other healthcare products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients. BioSyent supports the healthcare professionals that treat these patients by marketing its products through its community, hospital and international business units.

As of the date of this press release, the Company has 14,472,453 shares issued and outstanding.

1. EBITDA - is a Non-IFRS Financial Measure. The term EBITDA does not have any standardized meaning under International Financial Reporting Standards (IFRS) and therefore may not be comparable to similar measures presented by other companies. The Company defines EBITDA as earnings before interest income or expense, income taxes, depreciation and amortization.