Bio-Reference Laboratories, Inc. Announces Earnings Will be Reported on February 28, 2013, Will Reflect Change in Presentation

Bio-Reference Laboratories, Inc. Announces Earnings Will be Reported on
February 28, 2013, Will Reflect Change in Presentation of Revenues and Bad
Debt to Comply With Accounting Standards Update Topic 954; No Effect on Net
Income or EPS From Update Implementation

Company Reaffirms Guidance for the Fiscal Year 2013

ELMWOOD PARK, N.J., Feb. 25, 2013 (GLOBE NEWSWIRE) -- Bio-Reference
Laboratories, Inc. (Nasdaq:BRLI) announced today that it adopted Accounting
Standards Update 2011-07 (the "Update") for Health Care Entities (Topic 954 of
FASB Codification) effective November 1, 2012. This is the first fiscal
quarter in which this is applicable to the Company and will be implemented on
a going-forward basis (although it will be applied to all periods presented
for comparison purposes initially).The Update requires certain healthcare
entities such as the Company to present the provision for doubtful accounts
relating to patient service revenue (currently classified as a portion of Bad
Debt) as a deduction from patient service revenue in the statement of
operations rather than as an operating expense.As a result, there will be an
equal offset reducing Net Revenue and Bad Debt Expense. This will affect Gross
Profit, Net Revenue, Bad Debt Expense and Days Sales Outstanding (DSO) but
will not affect any other financial metrics, such as Operating Income, EPS,
Net Income, Cash Flow, or Net Accounts Receivable (except as a percentage of
Revenue).The Company will provide comparative analysis reflecting the
Update's impact on Patient Service Revenues and its associated Bad Debt
Expense in the Company's earnings announcement, which will take place before
the market open on February 28, 2013.This will allow the public to more
clearly identify the change.

Marc D. Grodman, MD, CEO, commented: "Although we are comfortable with the
accounting method we have been using for the last 20 years since our follow-on
offering in 1993, BioReference welcomes the reclassification of doubtful
accounts pursuant to the Update because it enables the investing public to
more easily compare our results of operations with similar companies.Overall,
the adoption of this standard has no net impact on our financial position,
results of operations or cash flows.When adjusted for this Update, we still
have 19 years of 20% compound annual growth in Net Revenue; there is no change
to our Net Income, Operating Income or EPS. This is simply a reduction in Net
Revenue that is offset by a reduction to Bad Debt Expense categories. Based on
our analysis of each quarter in fiscal year 2012, the reduction in Net
Revenues was approximately 7% with a Bad Debt expense as a percentage of Net
Revenues between 6.5%-7.5%."

Dr. Grodman further noted: "On our Q4FY12 earnings report and conference call
we indicated that we expected the effect of Hurricane Sandy in Q1FY13 to be
between $.03 and $.05 per share.We have now calculated that effect to be $.03
per share.We also gave guidance on that call for the entire 2013 Fiscal Year
that we believe that we will increase net revenues by greater than 15% and
that we will grow net income by around 20%.We affirm that guidance for the
entire year as well as for Q1FY13 despite the effects of Hurricane Sandy.We
will report our Q1FY13 earnings later this week on February 28^th."

The Company's Q1FY13 earnings release will take place before the market open
on February 28, 2013.It will be followed by a conference call to take place
the same morning, February 28, 2013 at 10:30 a.m. Eastern Standard Time.The
live audio Web cast will be available at the Company's corporate Web site,
www.bioreference.com and through www.streetevents.com.To listen to the call
please go to either Web site ten minutes before the conference call is
scheduled to begin. You will need to register as well as download and install
any necessary audio software. The Web cast will be archived, on both Web
sites, for 30 days following the call.

About BioReference Laboratories, Inc.

BRLI is a clinical testing laboratory offering testing, information and
related services to physician offices, clinics, hospitals, employers and
governmental units.We believe that we are the fourth largest full-service
laboratory in the United States and the largest independent regional
laboratory in the Northeastern market.BRLI offers a comprehensive list of
laboratory testing services utilized by healthcare providers in the detection,
diagnosis, evaluation, monitoring and treatment of diseases.BRLI primarily
focuses on esoteric testing, molecular diagnostics, anatomical pathology,
women's health and correctional health care.

Statements included in this release that are not historical in nature, are
intended to be, and are hereby identified as "forward-looking statements".
Statements looking forward in time are included in this release pursuant to
the "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Such statements involve known and unknown risks and uncertainties
that may cause the Company's actual results in future periods to be materially
different from any future performance suggested herein.

                             www.bioreference.com

CONTACT: Tara Mackay
         Investor Relations Coordinator
         (201) 791-2600
         (201) 791-1941 (fax)
         tmackay@bioreference.com
 
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