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ERBA Diagnostics, Inc. Reports Third Quarter 2012 Financial Results



11/15/2012 9:40:15 AM

MIAMI--(BUSINESS WIRE)--ERBA Diagnostics, Inc. (NYSE MKT: ERB), a fully integrated in vitro diagnostics company, reported its financial results for the quarter and nine months ended September 30, 2012. Kevin D. Clark, Chief Executive Officer, Chief Operating Officer and President of ERBA Diagnostics, said, “I am pleased to report a continuation in the third quarter of 2012 of the turnaround we are experiencing this year. A significant year-over-year reduction in operating loss to almost break-even has resulted from significant decreases in operating expenses. Comparing the third quarter of 2012 to the third quarter of 2011, our operating expenses decreased by $979,000 and we have reduced our loss from operations by $955,000. Comparing the nine month period ended September 30, 2012 to the same period of 2011, our operating expenses decreased by $3,040,000 and we have reduced our loss from operations by $2,870,000. The Company continues to implement certain initiatives in an effort to keep operating expenses under control for 2012. Looking ahead into the fourth quarter of 2012, we intend to continue to focus on implementing a number of new initiatives in an effort to grow sales in the US and internationally.”

Read at BioSpace.com


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