NEWPORT BEACH, CA--(Marketwire - April 15, 2009) - Biomerica, Inc. (OTCBB: BMRA) today
reported operating income from continued operations for the quarter ended
February 28, 2009 of $214,101 compared to operating income from continued
operations of $118,009 for the same period in fiscal 2008, an increase of
over 81%. Net income for the three months ended February 28, 2009 was
$276,744 compared to net income of $123,844 in the same quarter the
previous fiscal year.
The results of net income for the nine months ended February 28, 2009 were
$314,540 versus a net income of $1,012,588 during the same period in the
previous fiscal year. Net income in the nine months ended February 29, 2008
includes a significant one time gain from the sale of marketable
securities. Operating income from continued operations for the nine months
ended February 28, 2009 was $254,089 compared to operating income from
continued operations of $340,166 for the same period in fiscal 2008.
Biomerica announced results of net sales of $1,373,604 for the third
quarter fiscal 2009 ended February 28, 2009, compared to net sales of
$1,240,809 in fiscal 2008. Net sales for the first nine months of fiscal
2009 were $3,688,524 compared to net sales of $3,608,408 for the first nine
months in fiscal 2008.
"Even in this difficult economic environment, we continue to make good
progress in expanding our international distribution and developing new
distribution relationships in the domestic market," stated Zackary Irani,
Biomerica CEO. "As we achieve milestones in expected new product
introductions and regulatory approvals, we believe that fiscal 2009 will
show improvements in our performance."
About Biomerica (OTCBB: BMRA)
Biomerica, Inc. (http://www.biomerica.com) is a global medical technology
company, based in Newport Beach, CA. The Company's diagnostics division
manufactures and markets advanced diagnostic products used at home, in
hospitals, and in physicians' offices for the early detection of
significant medical conditions and serious diseases.
Certain information included in this press release (as well as information
included in oral statements or other written statements made or to be made
by Biomerica) contains statements that are forward-looking: such as
statements relating to intended improvements to the Company's financial
performance, continued growth in business, launch dates, expansion,
expected orders, growth prospects, leading market positions, anticipated
future sales revenues of the company, success of product(s) and new product
introductions. Such forward-looking information involves important risks
and uncertainties that could significantly affect anticipated results in
the future, and accordingly, such results may differ materially from those
expressed in any forward-looking statements made by or on behalf of
Biomerica. The potential risks and uncertainties include, among others,
fluctuations in the Company's operating results due to its new business
model and expansion plans, the Company's ability to raise additional
capital, the competitive environment in which the Company will be
competing, and the Company's dependence on strategic relationships. The
Company is under no obligation to update any forward-looking statements
after the date of this release.
