CEMI.. $3.73.. Chembio Diagnostics Swings to Q4 Net Loss as Trial Expenses Rise, Product Sales Slip
09:01 AM EST, 03/06/2014 (MT Newswires) -- Chembio Diagnostics, Inc. (CEMI), which focuses on point-of-care diagnostic tests for infectious diseases, swung to a Q4 net loss as clinical trial and other expenses rose and revenue and product sales slipped.
The company had a Q4 loss of $262,000, or $0.03 per diluted share, from net income of $492,000, or $0.06 a share a year before. Q4 2013 included $490,000 of clinical trial expenses, compared with $157,000 in the prior-year period.
Total revenues were $7.86 million compared with $7.87 million. Product sales fell 4% to $7.10 million. Analyst estimates weren't available.
The shares were unchanged pre-market and closed at $3.73 on Wednesday in a 52-week range of $2.98 - $5.70.
Price: 3.73, Change: 0.00, Percent Change: 0
