MIAMI--(BUSINESS WIRE)--IVAX Diagnostics, Inc. (AMEX:IVD) reported its financial results for the first quarter of 2007. For the quarter, IVAX Diagnostics recorded net revenues of $4,946,000, an increase of $228,000, or 4.8%, from the first quarter of 2006. Net loss for the first quarter of 2007 was $238,000 compared to net loss of $797,000 in the first quarter of 2006. Net loss for the first quarter of 2006 included a cumulative effect adjustment of $201,000 for a change in accounting principle that was required in 2006 when IVAX Diagnostics adopted SFAS 123(R) to account for stock based compensation.
