Biomerica, Inc. Posts $1.23 Million Fiscal First-Quarter Loss as Sales Fall 8%

Biomerica, Inc. recorded a $1.232 million net loss in its fiscal first quarter ended Aug. 31, as sales fell 8% from a year earlier and cash rose from its May 31 balance.

Net sales were $1.265 million, down from $1.38 million in the same quarter a year earlier. The company posted a loss of $0.37 per share, compared with net income of $2,000 in the year-earlier period.

Cash and cash equivalents totaled $2.733 million on Aug. 31, up from $1.308 million on May 31. Biomerica develops diagnostic and therapeutic products for clinical laboratories and point-of-care settings.