BioSource International Narrows Loss for Quarter

BioSource International Inc., a Camarillo-based supplier of biomedical research products, narrowed its loss to $13,425 in its fourth quarter that ended Dec. 31, compared to a loss of $399,452 in the same period a year earlier. Revenue in the latest quarter rose 68% to $1.4 million, compared to $832,420 a year earlier.

For all of 1993, BioSource posted a net profit of $405,596, compared with a loss of $396,411 in 1992. Sales last year climbed 41% to $5.47 million, compared to $3.86 million in 1992.

The company blamed the latest quarter’s loss on a onetime charge of $85,146 to settle a wrongful termination lawsuit.

BioSource attributed its profit turnaround last year to the introduction of more than 30 new products in 1993. Also in the fourth quarter, BioSource received $1.4 million from the conversion of warrants to purchase 964,500 shares of BioSource common stock.