Microbix Biosystems Inc., a Toronto-based biotechnology company, recently reported financial results for fourth quarter and full-year 2009. For the fiscal year ending September 30, 2009, Microbix reported revenues of $6.08 million, a 22% increase from the same period in 2008. For fourth-quarter 2009, the company saw revenues increase by 20% to $1.5 million, compared to the year-ago quarter.
Sales increases in Microbix core business of providing biological products to the diagnostic and research industries were primarily due to greater capacity from the company's ISO-certified Watline biologic production facility, which opened in April 2009.
"We expect cash flow from our base business to continue to improve as it did in 2009 supporting our new areas of growth which are approaching value milestones," said William Gastle, Microbix CEO.