MIAMI--(BUSINESS WIRE)--IVAX Diagnostics, Inc. (NYSE Amex: IVD), a fully integrated in vitro diagnostics company, reports its financial results for the quarter ended March 31, 2011. Kevin D. Clark, Chief Executive Officer, Chief Operating Officer and President of IVAX Diagnostics, said, “We continued our rebuilding efforts during the first quarter of 2011. Our operating expenses were $246,000 lower in the first quarter of 2011 compared to the first quarter of 2010, principally as a result of our efforts to contain general and administrative expenses. However, due to lower revenues, even with this decrease in operating expenses, our cash and cash equivalents decreased by $899,000 since December 31, 2010 to $927,000 as of March 31, 2011. We do not believe that our existing cash and cash equivalents will be sufficient to meet our anticipated cash requirements over the next twelve months.”
