Biomerica, Inc. Announces Earnings Results for the Second Quarter and Six Months Ended November 30, 2015; Provides Sales Guidance for the Third Quarter 2016
January 16, 2016 at 12:49 am EST
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Biomerica Inc. reported earnings results for the second quarter and six months ended November 30, 2015. For the quarter the company reported net sales of $1,165,080 compared to $1,133,600 for the same period in the previous year. Net loss for the three months ended November 30, 2015 of $66,768, or $0.01 per share, versus a net loss of $238,028, or $0.03 per share, in the previous fiscal year during the same quarter.
Net sales were $2,452,073 for the first six months of fiscal 2016 compared to $2,168,050 for the first six months in fiscal 2014, an increase of 13.1%. The net loss for the six months ended November 30, 2015 was $139,103, or $0.02 per share, compared to net loss of $457,296, or $0.06 per share, in the same period the previous fiscal year.
The company announced that it anticipate sales in the third quarter 2016 to increase.
Biomerica, Inc. is a biomedical technology company. The Company develops, patents, manufactures and markets advanced diagnostic and therapeutic products used at the point-of-care (in home and in physiciansâ offices) and in hospital/clinical laboratories for detection and/or treatment of medical conditions and diseases. It is also engaged in the research, development, commercialization and in certain cases regulatory approval, of patented, diagnostic-guided therapy (DGT) products to treat gastrointestinal diseases, such as irritable bowel syndrome (IBS), and other inflammatory diseases. The Company's InFoods IBS product uses a simple blood sample and is designed to identify patient-specific foods that, when removed from the diet, may alleviate IBS symptoms such as pain, bloating, diarrhea and constipation. The Companyâs two subsidiaries, Biomerica de Mexico, which is used for assembly/manufacturing and BioEurope GmbH, which acts as a distributor of Biomerica products in certain markets.
Biomerica, Inc. Announces Earnings Results for the Second Quarter and Six Months Ended November 30, 2015; Provides Sales Guidance for the Third Quarter 2016