Biomerica, Inc. (Biomerica) has reported net sales of $1.4 million for the third quarter of fiscal 2009, compared with the net sales of $1.2 million in the year-ago quarter. It also reported a net income of $276,744 for the third quarter of fiscal 2009, compared with the net income of $123,844 in the year-ago quarter.
Biomerica reported operating income from continued operations for the quarter ended February 28, 2009 of $214,101 compared to operating income from continued operations of $118,009 in the year-ago quarter, an increase of over 81%.
The results of net income for the nine months ended February 28, 2009 were $314,540 versus a net income of $1,012,588 during the year-ago quarter. Net income in the nine months ended February 29, 2008 includes a significant one time gain from the sale of marketable securities. Operating income from continued operations for the nine months ended February 28, 2009 was $254,089 compared to operating income from continued operations of $340,166 for the same period in fiscal 2008.
Biomerica announced net sales for the first nine months of fiscal 2009 were $3,688,524 compared to net sales of $3,608,408 for the first nine months in fiscal 2008.
“Even in this difficult economic environment, we continue to make good progress in expanding our international distribution and developing new distribution relationships in the domestic market,” stated Zackary Irani, Biomerica CEO. “As we achieve milestones in expected new product introductions and regulatory approvals, we believe that fiscal 2009 will show improvements in our performance.”