IRVINE, CA--(Marketwire - January 20, 2010) - Biomerica, Inc. (OTCBB: BMRA) today reported net sales of $1,099,880 for the three months ended November 30, 2009, compared to $1,120,575 for the same period in the previous year. Net sales were $2,248,401 for the first six months of fiscal 2010 compared to $2,314,920 for the first six months in fiscal 2009.
Biomerica announced net loss for the three months ended November 30, 2009, of $305,706 versus a net loss of $103,016 in the previous fiscal year during the same quarter. The net loss for the six months ended November 30, 2009 was $297,772, compared to net income of $37,796 in the same period the previous fiscal year. The increase in losses was primarily due to non-recurring move expenses associated with the move to a new building.
“Through careful planning and coordination, we have moved into our new state of the art facility that provides work flow and efficiencies unattainable at our old Newport Beach facility. We accomplished our move and met all regulatory requirements while providing our customers seamless and uninterrupted service,” stated Zackary Irani, Biomerica CEO.
About Biomerica (OTCBB: BMRA)
Biomerica, Inc. (www.biomerica.com) is a global medical technology company, based in Irvine, 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 medical conditions and diseases.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. 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 launch dates, sales potential, significant benefits, market size, growth prospects, new products, favorable positions, new distributors, expansion, increases in productivity and margins, expected orders, leading market positions, anticipated future revenues or production volume of the Company, success of product and new product offerings. 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 business model and expansion plans, downturns in international and or national economies, 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.
Contact:
Zackary Irani
949-645-2111
