Biomerica Revenue Up
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NEWPORT BEACH — Biomerica Inc. posted strong gains in net income for the fiscal year ended May 31 on higher revenue.
The company, which develops and manufactures medical diagnostic products, said net income rose to $432,700, or 12 cents a share, from $88,500, or 3 cents a share, the previous year. Per-share results for the most recent fiscal year exceeded the company’s earlier estimates of 8 cents per share, and the company expects its growth to continue, said president Joseph Irani. Revenue climbed 3.3% to $9.5 million from $9.2 million.
For the fourth quarter, net income climbed to $205,100, or 5 cents a share, from $22,800, or 1 cent a share. Sales totaled $2.8 million, up 27.3% from $2.2 million.
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