KINDERHOOK, N.Y.--(BUSINESS WIRE)--American Bio Medica Corporation (OTCPK: ABMC) today announced financial results for the three months ended March 31, 2016.
Chief Executive Officer Melissa A. Waterhouse stated, “We are continuing to keep expenses in line with sales. Q1 did have increased R&D expenses related to efforts we are taking to obtain a marketing clearance from FDA for one of our urine based products; costs in other expense divisions remained stable or declined. Sales did decline in the first quarter 2016, however, the decline was minimal. Our efforts to diversify our revenues are continuing as we move forward with new business relationships closed at the end of the first quarter.
Chief Executive Officer Melissa A. Waterhouse stated, “We are continuing to keep expenses in line with sales. Q1 did have increased R&D expenses related to efforts we are taking to obtain a marketing clearance from FDA for one of our urine based products; costs in other expense divisions remained stable or declined. Sales did decline in the first quarter 2016, however, the decline was minimal. Our efforts to diversify our revenues are continuing as we move forward with new business relationships closed at the end of the first quarter.
