/EINPresswire.com/ -- TORONTO, ONTARIO -- (Marketwired) -- 08/12/16 -- BioSyent Inc. ("BioSyent") (TSX VENTURE: RX) released today a summary of its financial results for the three and six months ending June 30, 2016. Key highlights include:

--  Second quarter (Q2) 2016 Net Revenues of $4,373,353 increased by 22%
    versus Q2 2015
--  First half (H1) 2016 Net Revenues of $8,145,816 increased by 18% versus
    H1 2015
--  Q2 2016 Pharmaceutical Net Revenues of $4,008,467 increased by 20%
    versus Q2 2015, with Canadian Pharmaceutical Net Revenues increasing by
    17% versus Q2 2015 and International Pharmaceutical Net Revenues more
    than doubling versus Q2 2015
--  H1 2016 Pharmaceutical Net Revenues of $7,555,075 increased by 15%
    versus H1 2015, with Canadian Pharmaceutical Net Revenues increasing by
    11% over H1 2015 and International Pharmaceutical Net Revenues more than
    doubling versus H1 2015
--  Q2 2016 EBITDA(1) of $1,399,558 increased by 19% versus Q2 2015
--  H1 2016 EBITDA(1) of $2,662,412 increased by 7% versus H1 2015
--  Q2 2016 Net Income After Tax (NIAT) of $1,015,449 increased by 19%
    versus Q2 2015
--  H1 2016 NIAT of $1,967,303 increased by 8% versus H1 2015
--  Q2 2016 Fully Diluted EPS was $0.07 as compared to $0.06 in Q2 2015
--  H1 2016 Fully Diluted EPS was $0.14 as compared to $0.13 in H1 2015
--  Trailing Twelve Months Fully Diluted EPS was $0.27 for the twelve months
    ended June 30, 2016 as compared to $0.25 for the twelve months ended
    June 30, 2015
--  The Company remains free of long-term debt and has an unutilized
    operating line of credit
--  As at June 30, 2016, the Company had cash, cash equivalents, and short
    term investments totalling $10,455,555, as compared to $9,715,476 as at
    December 31, 2015 - an 8% increase
--  Working capital, which is the difference between current assets and
    current liabilities, increased by 18% from $10,821,785 as at December
    31, 2015 to $12,775,744 as at June 30, 2016
--  Total Shareholders' Equity increased by 17% from $12,151,482 at December
    31, 2015 to $14,237,496 at June 30, 2016
--  Trailing Twelve Months Return on Equity to June 30, 2016 was 32%

(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.

"Q2 2016 was a record quarter for BioSyent's Canadian pharmaceutical business, with sales exceeding $3.75 million" commented Rene Goehrum, President and CEO of BioSyent. "Our international business also saw significant growth with Q2 2016 sales more than doubling over Q2 2015. During the quarter, we signed an agreement with a European partner for the exclusive Canadian distribution rights to two innovative cardiovascular products which, upon reaching peak sales, will add $20 million to the Company's business. We also established a new wholly-owned subsidiary, BioSyent Pharma International Inc., to facilitate the future growth and expansion of our international pharmaceutial business. We continued to grow our business during the first half of 2016, while maintaining a healthy net profit margin of 24%. These results speak to the strength of our business model in delivering consistent, profitable growth."

The CEO presentation on the Q2 2016 Results is available at the following link: www.biosyent.com/q2-16/

The Company's Interim Unaudited Condensed Consolidated Financial Statements and Management's Discussion & Analysis for the three and six months ended June 30, 2016 and 2015 will be posted on www.sedar.com on August 12, 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 14,066,087 shares issued and outstanding.

                               BioSyent Inc.
     Interim Unaudited Consolidated Statements of Comprehensive Income

----------------------------------------------------------------------------
In Canadian                                 %                             %
 Dollars           Q2 2016    Q2 2015  Change    H1 2016    H1 2015  Change
----------------------------------------------------------------------------
Net Revenues     4,373,353  3,593,998      22% 8,145,816  6,900,098      18%
Cost Of Goods
 Sold              877,400    739,045      19% 1,594,502  1,447,780      10%
Gross Profit     3,495,953  2,854,953      22% 6,551,314  5,452,318      20%
Operating
 Expenses        2,104,927  1,680,531      25% 3,856,378  2,957,963      30%
Net Income
 Before Tax      1,391,026  1,174,422      18% 2,694,936  2,494,355       8%
Tax (including
 Deferred Tax)     375,577    323,383      16%   727,633    680,604       7%
NIAT             1,015,449    851,039      19% 1,967,303  1,813,751       8%
NIAT % to Net
 Revenues               23%        24%                24%        26%
EBITDA           1,399,558  1,176,105      19% 2,662,412  2,490,429       7%
EBITDA % to Net
 Revenues               32%        33%                33%        36%
----------------------------------------------------------------------------


                               BioSyent Inc.
      Interim Unaudited Consolidated Statements of Financial Position


                                  ------------------------------------------
                                        June 30,  December 31,
AS AT                                       2016          2015     % Change
                                  ------------------------------------------
ASSETS

Trade receivables                  $   2,165,416 $   1,341,668           61%
Other receivables                         20,571        43,610          -53%
Inventory                              1,749,335     1,744,936            0%
Prepaid expenses and deposits            345,446       297,791           16%
Derivative assets                         69,007        34,569          100%
Short term investments                   477,689     5,322,859          -91%
Cash and cash equivalents              9,977,866     4,392,617          127%
                                  ------------------------------------------
Current Assets                        14,805,330    13,178,050           12%

Equipment                                242,369       230,255            5%
Intangible assets                      1,199,429     1,079,488           11%
Deferred tax asset                       120,208       120,208            0%
                                  ------------------------------------------
TOTAL NON CURRENT ASSETS               1,562,006     1,429,951            9%

                                  ------------------------------------------
TOTAL ASSETS                       $  16,367,336 $  14,608,001           12%
                                  ------------------------------------------
                                  ------------------------------------------

LIABILITIES AND SHAREHOLDERS'
 EQUITY

Current liabilities                $   2,029,586 $   2,356,265          -14%
Deferred tax liability                   100,254       100,254            0%
Total Equity                          14,237,496    12,151,482           17%
                                  ------------------------------------------
TOTAL LIABILITIES AND
 SHAREHOLDERS' EQUITY              $  16,367,336 $  14,608,001           12%
                                  ------------------------------------------
                                  ------------------------------------------

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

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