Palm Beach, FL 12/8/11 (StreetBeat) -- Bio-Reference Laboratories Inc's (Nasdaq: BRLI) quarterly results beat market estimates as it served more patients, sending the company's shares up as much as 12 percent.The full-service laboratory, which offers clinical tests to detect cancer, pregnancy and HIV, forecast a 15 percent rise in revenue and a 20 percent increase in the net income for 2012.
Fourth-quarter net income was $10.4 million, or 37 cents a share, compared with $8.5 million, or 31 cents a share, a year ago. Revenue rose 20 percent to $151.2 million.
Analysts, on average, were expecting earnings of 35 cents a share, on revenue of $149.8 million, according to Thomson Reuters I/B/E/S.
The number of patients served during the quarter rose 19 percent to 1,822.
Shares of the company were up 7 percent at $13.27 on Nasdaq. They had touched a high of $13.99 earlier in the session.
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