/EINPresswire.com/ -- TORONTO, ONTARIO -- (Marketwired) -- 03/04/16 -- BioSyent Inc. ("BioSyent") (TSX VENTURE: RX)(OTC PINK: BIOYF) released today a summary of its financial results for the three and twelve months ending December 31, 2015. Key highlights include:

--  Fourth quarter (Q4) 2015 Net Revenues of $3,841,862 increased by 26%
    versus Q4 2014
--  Full year 2015 Net Revenues of $15,388,196 increased by 26% versus 2014
--  Q4 2015 Pharmaceutical Net Revenues of $3,779,349 increased by 26%
    versus Q4 2014
--  Full year 2015 Pharmaceutical Net Revenues of $14,412,874 increased by
    27% versus 2014
--  In Q4 2015, the Company reported non-recurring, non-operating expenses
    of $292,000 related to the voluntary recall of Aguettant System®
    Atropine syringes
--  Q4 2015 EBITDA(1) of $1,008,662 decreased by 5% versus Q4 2014; without
    the impact of non-recurring, non-operating recall expenses, Q4 2015
    EBITDA(1) would have been $1,300,662 or a 23% increase over Q4 2014
--  Full year 2015 EBITDA(1) of $5,118,792 increased by 19% versus 2014;
    without the impact of non-recurring, non-operating recall expenses, full
    year 2015 EBITDA(1) would have been $5,410,792 or a 26% increase over
    2014
--  Q4 2015 Net Income After Tax of $762,602 increased by 1% versus Q4 2014;
    without the impact of non-recurring, non-operating recall expenses,
    reported Q4 2015 Net Income After Tax would have been $977,222 or a 30%
    increase over 2014
--  Full year 2015 Net Income After Tax of $3,764,889 increased by 19% over
    2014; without the impact of non-recurring, non-operating recall
    expenses, full year 2015 Net Income After Tax would have been $3,979,509
    or a 26% increase over 2014
--  Q4 2015 Fully Diluted EPS was $0.05 as compared to $0.05 in Q4 2014;
    full year 2015 Fully Diluted EPS of $0.26 grew by 18% over 2014 ($0.22);
    Q4 and full year 2015 Fully Diluted EPS would have been $0.07 and $0.28,
    respectively, without the impact of non-recurring, non-operating recall
    expenses
--  The Company remains debt-free and has an unutilized operating line of
    credit with Royal Bank of Canada
--  As at December 31, 2015, the Company had cash, cash equivalents and
    short term investments totalling $9,715,476, an increase of $1,726,336
    over 2014
--  Working capital, which is the difference between current assets and
    current liabilities, increased by 39% from $7,786,460 as at December 31,
    2014 to $10,821,785 as at December 31, 2015
--  Total Shareholders' Equity increased by 49% from $8,160,092 at December
    31, 2014 to $12,151,482 at December 31, 2015
--  Return on Equity for fiscal 2015 was 37%

"2015 was a year of continued growth for our business both domestically and in international markets" commented Rene Goehrum, President and CEO of BioSyent. "It marked the sixth consecutive year of strong revenue, profit and EPS growth. We are proud to have doubled our fully diluted EPS in just two years from $0.13 in 2013 to $0.26 in 2015. This strong sales performance and continued profitability growth has allowed us to re-invest in our business to enhance our product portfolio and competitiveness while simultaneously investing in our people for greater functional capability and capacity. The Company made significant investments in new products in 2015, including Cysview®, an innovative technology that aids in the diagnosis and management of non-muscle-invasive bladder cancer, which we started to promote in Q4 last year. We expect to commence shipment of Cysview® in Q2 2016. Overall, we are well-positioned for continued profitable growth."

The CEO presentation on the Q4 2015 Results is available at the following link: www.biosyent.com/q4-15/

The Company's Audited Consolidated Financial Statements and Management's Discussion & Analysis for the years ended December 31, 2015 and 2014 will be posted on www.sedar.com on March 4, 2016.

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 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 14,021,195 shares issued and outstanding.

                                BioSyent Inc.
               Consolidated Statements of Comprehensive Income

----------------------------------------------------------------------------
In Canadian Dollars                   Q4 2015        Q4 2014       % Change
----------------------------------------------------------------------------
Net Revenues                        3,841,862      3,058,503             26%
Cost Of Goods Sold                    745,719        664,977             12%
Gross Profit                        3,096,143      2,393,526             29%
Operating Expenses                  2,046,414      1,324,963             54%
Net Income Before Tax               1,049,729      1,068,563             -2%
Tax (including Deferred Tax)          287,127        315,364             -9%
Net Income After Tax                  762,602        753,199              1%
Net Income After Tax % to Net
 Revenues                                  20%            25%
EBITDA                              1,008,662      1,056,576             -5%
EBITDA % to Net Revenues                   26%            35%
----------------------------------------------------------------------------



----------------------------------------------------------------------------
In Canadian Dollars                      2015           2014       % Change
----------------------------------------------------------------------------
Net Revenues                       15,388,196     12,211,127             26%
Cost Of Goods Sold                  3,278,442      2,680,249             22%
Gross Profit                       12,109,754      9,530,878             27%
Operating Expenses                  6,943,750      5,204,143             33%
Net Income Before Tax               5,166,004      4,326,735             19%
Tax (including Deferred Tax)        1,401,115      1,172,656             19%
Net Income After Tax                3,764,889      3,154,079             19%
Net Income After Tax % to Net
 Revenues                                  24%            26%
EBITDA                              5,118,792      4,299,963             19%
EBITDA % to Net Revenues                   33%            35%
----------------------------------------------------------------------------


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.




                               BioSyent Inc.
               Consolidated Statements of Financial Position

                               ---------------------------------------------
                                  December 31,   December 31,
AS AT                                     2015           2014      % Change
                               ---------------------------------------------
ASSETS

Trade receivables                  $ 1,341,668      $ 624,648           115%
Other receivables                       43,610         16,043           172%
Inventory                            1,744,936      1,271,910            37%
Prepaid expenses and deposits          297,791        203,532            46%
Derivative assets                       34,569        142,627           -76%
Short term investments               5,322,859        999,969           432%
Cash and cash equivalents            4,392,617      6,989,171           -37%
                               ---------------------------------------------
Current Assets                      13,178,050     10,247,900            29%

Equipment                              230,255        156,907            47%
Intangible assets                    1,079,488         66,720          1518%
Deferred tax asset                     120,208        173,380           -31%
                               ---------------------------------------------
TOTAL NON CURRENT ASSETS             1,429,951        397,007           260%

                               ---------------------------------------------
TOTAL ASSETS                      $ 14,608,001   $ 10,644,907            37%
                               ---------------------------------------------
                               ---------------------------------------------

LIABILITIES AND SHAREHOLDERS'
 EQUITY

Current liabilities                $ 2,356,265    $ 2,461,440            -4%
Deferred tax liability                 100,254         23,375           329%
Total Equity                        12,151,482      8,160,092            49%
                               ---------------------------------------------
TOTAL LIABILITIES AND
 SHAREHOLDERS' EQUITY             $ 14,608,001   $ 10,644,907            37%
                               ---------------------------------------------
                               ---------------------------------------------

This press release may contain information or statements that are forward-looking. The contents herein represent our judgment, as at the release date, and are subject to risks and uncertainties that may cause actual results or outcomes to be materially different from the forward-looking information or statements. Potential risks may include, but are not limited to, those associated with clinical trials, product development, future revenue, operations, profitability and obtaining regulatory approvals.

The TSX Venture Exchange assumes no responsibility for the accuracy of this release and neither approves nor disapproves of the same.

Contacts:
Mr. Rene C. Goehrum
President and CEO
BioSyent Inc.
(905) 206-0013
investors@biosyent.com
www.biosyent.com

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