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BioSyent Releases First Quarter 2014 Results-Sales Increase 59%, Net Income After Tax Up 49%

TORONTO, ONTARIO -- (Marketwired) -- 05/16/14 -- BioSyent Inc. ("BioSyent") (TSX VENTURE:RX) released today a summary of its First Quarter (Q1 2014) financial results. Key highlights include:

--  Q1 2014 Sales of $2,448,101 increased by 59% versus Q1 2013 
--  Q1 2014 Revenue has grown at a compound annual growth rate (CAGR) of 65%
    over the corresponding quarters of the last three years 
--  Q1 2014 Pharmaceutical Sales of $2,343,008 were up 79% versus Q1 2013 
--  Eighteen consecutive quarters of continued pharmaceutical sales growth 
--  Repeat orders for FeraMAX® 150 international customer 
--  Net Income Before Tax of $687,672 increased by 43% in Q1 2014 versus Q1
--  Q1 2014 Net Income After Tax of $511,421 increased by 49% versus Q1 2013
--  Q1 2014 Diluted EPS of $0.04 versus $0.02 in Q1 2013 
--  Trailing twelve months (TTM) fully diluted EPS of $0.15 
--  The company remains debt-free and has an unutilized operating line of
    credit with Royal Bank of Canada 
--  Selected as a TSX Venture 50 Top Performer for three consecutive years -
    2012, 2013 and 2014 
--  2 new Urgent Care products awaiting Health Canada marketing approval 
--  Pre-launch activity for a new Women's Health product - launch planned
    for second quarter of 2014 
--  Pre-launch activity for a new Gastrointestinal Health product - launch
    planned for fourth quarter of 2014 

Total sales for Q1 2014 of $2,448,101, were 59% higher compared to $1,541,843 in the corresponding prior year period.

Pharmaceutical Sales in Q1 2014 increased by 79% from $1,307,510 in Q1 2013 to $2,343,008 in Q1 2014.

Net Income Before Tax for Q1 2014 was $687,672, which was 43% higher than $481,963 in Q1 2013.

Net Income After Tax increased by 49% from $344,410 in Q1 2013 to $511,421 in Q1 2014. The Total Comprehensive Income of $515,667 for Q1 2014 was 48% higher than that of $348,354 in Q1 2013.

Earnings per share (EPS) - Basic EPS was $0.04 in Q1 2014 vs. $0.03 in Q1 2013. Diluted EPS in Q1 2014 was $0.04 vs. $0.02 in Q1 2013.

Working capital, which is the difference between current assets and current liabilities, increased by 13% from $4,405,910 as at December 31, 2013 to $4,979,762 as at March 31, 2014. Total Cash included in working capital on March 31, 2014 is $4,381,137. Total Shareholder's Equity increased by 12% from $4,854,630 at December 31, 2013 to $5,445,050 at March 31, 2014.

The Company plans to launch a new Women's Health product in the second quarter of 2014.

On March 04, 2014 BioSyent Pharma in-licensed a new Gastrointestinal Health product from an existing European partner. This product is approved by Health Canada and is being prepared for launch in Q4 2014.

The Company's Consolidated Financial Statements and Management's Discussion & Analysis will be posted on on May 16, 2014.

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

BioSyent will also release a CEO presentation on the First Quarter at the following link

About BioSyent Inc.

Listed on the Toronto Venture Exchange under the trading symbol "RX", BioSyent is a profitable growth oriented specialty pharmaceutical company which searches the globe to in-license or acquire innovative pharmaceutical products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients and supporting the healthcare professionals that treat them.

Once a product of interest has been found, BioSyent then acquires the exclusive rights to the product and manages it through the Canadian governmental regulatory approval process. Once approved, BioSyent markets the product throughout Canada.

At the date of this press release the Company had 13,776,195 shares issued and outstanding.

                               BioSyent Inc.                                
      Interim Unaudited Consolidated Statement of Comprehensive Income      
                                                    3 Months Ended March 31 
In Canadian Dollars                       Q1 2014       Q1 2013    % Change 
Revenues                                2,448,101     1,541,843          59%
Cost Of Goods Sold                        539,524       308,469          75%
Gross Profit                            1,908,577     1,233,374          55%
Total Operating Expense                 1,220,905       751,411          62%
Profit Before Tax                         687,672       481,963          43%
Tax (including Deferred Tax)              176,251       137,553          NA 
Profit After Tax                          511,421       344,410          48%
Profit After Tax % to Sales                    21%           22%            
                               BIOSYENT INC.                                
                                         March 31,   December 31,           
AS AT                                         2014           2013  % Change 
Receivables                              1,416,061        585,519       142%
Inventory                                  619,199        522,787        18%
Prepaid expenses & deposits                112,601        136,511       -18%
Cash & Cash Equivalents                  3,787,138      4,381,137       -14%
Current Assets                           5,934,999      5,625,954         5%
Equipment                                  169,498        141,025        20%
Intangible Assets                           52,994         52,994           
Deferred Tax                               259,654        271,559        -4%
TOTAL NON CURRENT ASSETS               $   482,146 $      465,578         4%
TOTAL ASSETS                             6,417,145      6,091,532         5%
LIABILITIES AND SHAREHOLDERS' EQUITY                                        
Current Liabilities                        955,237      1,220,044       -22%
Deferred Tax Liability                      16,858         16,858           
Total Equity                             5,445,050      4,854,630        12%
TOTAL LIABILITIES AND SHAREHOLDERS'                                         
 EQUITY                                  6,417,145      6,091,532         5%

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.

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