American Bio Medica Corporation (ABMC), a provider of in-vitro immunoassay test kits, has reported net sales of $2.53m, for the third quarter of 2010, an increase of $0.29m or 1.2%, compared to $2.50m for the third quarter of 2009.
ABMC has reported an operating loss of $2.47m in the third quarter of 2010, compared to an operating loss of $1.84m in the same period a year ago.
The net loss for the third quarter of 2010 was $3m or $(0.01) per share, compared to a net loss of $2.41m, or $(0.01) per share in the third quarter of 2009.
For the nine months ended 30 September 2010 net sales were $8.08m, an increase of $0.51m or $6.9%, compared to $7.56m for the nine months ended 30 September 2009,
The operating loss for the nine months ended 30 September 2010 was $2.44m compared to an operating loss of $5.58m for the same period a year ago.
ABMC said that the net loss for the nine months ended 30 September 2010 was $4.08m or $(0.02) per share, compared to a net loss of $7.12m or $(0.03) per share in the nine months ended 30 September 2009.
ABMC CEO Stan Cipkowski said that they continued to see modest improvement in sales in the third quarter of 2010 despite the continued financial hardships that many of our customers are experiencing.
“General economic conditions and increased regulatory oversight in our markets provide new challenges for us every day, however, we continue to control expenses and manufacturing costs with the goal of improving operating results,” Cipkowski said.