Biomerica Sales Up 24 Percent in Third Quarter; 16 Percent in First Nine Months

Apr 24, 2001, 01:00 ET from Biomerica, Inc.

    NEWPORT BEACH, Calif., April 24 /PRNewswire Interactive News Release/ --
 Biomerica, Inc. (Nasdaq: BMRA) today reported consolidated net sales of
 $2.3 million for the fiscal third quarter ended February 28, 2001, compared to
 consolidated net sales of $1.8 million for the third quarter ended February
 29, 2000, a 24 percent increase.  Nine-month net sales are up 16 percent to
 $6.5 million compared to $5.6 million in the previous fiscal year.
     "We continue to see record sales of our point of care tests which include
 EZ Detect(TM), the simplest, most effective home test available for the
 detection of hidden blood in the stool, an early warning sign for colorectal
 cancer," said Zackary Irani, Biomerica Chairman.  "We are also very optimistic
 about our new agreement with Nihon Schering K.K. to market EZ-PSA(TM) to
 hospitals and physician offices in Japan."  EZ-PSA is Biomerica's 10-minute
 test designed to detect Prostate Specific Antigen (PSA), an early warning
 indicator of prostate cancer and Nihon Schering K.K. is the Japanese
 subsidiary of Schering AG (NYSE:   SHR).
     Biomerica announced a net loss of ($513,845), or ($0.11) per share (basic
 and diluted) for the quarter ended February 28, 2001 compared to a loss of
 ($886,262), or ($0.20) per share (basic and diluted), for the same period in
 the prior fiscal year.  This loss is the result of the Company's investment in
 the ReadyScript Inc. subsidiary, which developed a wireless handheld
 medication management system for electronic prescriptions. Development efforts
 on the product have ceased.
     The loss for the first nine months of the current fiscal year is
 ($2) million or ($0.42) per share (basic and diluted) compared to a loss of
 ($2.5) million or ($0.57) per share (basic and diluted) in the same period in
 fiscal 2000.  "We are also taking steps to further increase sales, decrease
 expenses and bring the company back into profitability," Mr. Irani said.
 
     About Biomerica (Nasdaq: BMRA)
     Biomerica, Inc. (www.biomerica.com) is a global medical technology
 company, based in Newport Beach, CA.  The Company's diagnostics division
 manufactures and markets advanced diagnostic products used at home, in
 hospitals, and in physicians' offices for the early detection of medical
 conditions and diseases.
 
     The Private Securities Litigation Reform Act of 1995 provides a "safe
 harbor" for forward-looking statements.  Certain information included in this
 press release (as well as information included in oral statements or other
 written statements made or to be made by Biomerica) contains statements that
 are forward-looking; such as statements relating to profitability, intended
 launch dates, expansion, expected orders, leading market positions,
 anticipated future revenues of the company, success of product and new product
 offerings.  Such forward-looking information involves important risks and
 uncertainties that could significantly affect anticipated results in the
 future, and accordingly, such results may differ materially from those
 expressed in any forward-looking statements made by or on behalf of Biomerica.
 The potential risks and uncertainties include, among others, fluctuations in
 the Company's operating results due to its business model and expansion plans,
 the Company's ability to raise additional capital, the competitive environment
 in which the Company will be competing, and the Company's dependence on
 strategic relationships.  The Company assumes no obligation to update the
 information in the release.
 
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SOURCE Biomerica, Inc.
    NEWPORT BEACH, Calif., April 24 /PRNewswire Interactive News Release/ --
 Biomerica, Inc. (Nasdaq: BMRA) today reported consolidated net sales of
 $2.3 million for the fiscal third quarter ended February 28, 2001, compared to
 consolidated net sales of $1.8 million for the third quarter ended February
 29, 2000, a 24 percent increase.  Nine-month net sales are up 16 percent to
 $6.5 million compared to $5.6 million in the previous fiscal year.
     "We continue to see record sales of our point of care tests which include
 EZ Detect(TM), the simplest, most effective home test available for the
 detection of hidden blood in the stool, an early warning sign for colorectal
 cancer," said Zackary Irani, Biomerica Chairman.  "We are also very optimistic
 about our new agreement with Nihon Schering K.K. to market EZ-PSA(TM) to
 hospitals and physician offices in Japan."  EZ-PSA is Biomerica's 10-minute
 test designed to detect Prostate Specific Antigen (PSA), an early warning
 indicator of prostate cancer and Nihon Schering K.K. is the Japanese
 subsidiary of Schering AG (NYSE:   SHR).
     Biomerica announced a net loss of ($513,845), or ($0.11) per share (basic
 and diluted) for the quarter ended February 28, 2001 compared to a loss of
 ($886,262), or ($0.20) per share (basic and diluted), for the same period in
 the prior fiscal year.  This loss is the result of the Company's investment in
 the ReadyScript Inc. subsidiary, which developed a wireless handheld
 medication management system for electronic prescriptions. Development efforts
 on the product have ceased.
     The loss for the first nine months of the current fiscal year is
 ($2) million or ($0.42) per share (basic and diluted) compared to a loss of
 ($2.5) million or ($0.57) per share (basic and diluted) in the same period in
 fiscal 2000.  "We are also taking steps to further increase sales, decrease
 expenses and bring the company back into profitability," Mr. Irani said.
 
     About Biomerica (Nasdaq: BMRA)
     Biomerica, Inc. (www.biomerica.com) is a global medical technology
 company, based in Newport Beach, CA.  The Company's diagnostics division
 manufactures and markets advanced diagnostic products used at home, in
 hospitals, and in physicians' offices for the early detection of medical
 conditions and diseases.
 
     The Private Securities Litigation Reform Act of 1995 provides a "safe
 harbor" for forward-looking statements.  Certain information included in this
 press release (as well as information included in oral statements or other
 written statements made or to be made by Biomerica) contains statements that
 are forward-looking; such as statements relating to profitability, intended
 launch dates, expansion, expected orders, leading market positions,
 anticipated future revenues of the company, success of product and new product
 offerings.  Such forward-looking information involves important risks and
 uncertainties that could significantly affect anticipated results in the
 future, and accordingly, such results may differ materially from those
 expressed in any forward-looking statements made by or on behalf of Biomerica.
 The potential risks and uncertainties include, among others, fluctuations in
 the Company's operating results due to its business model and expansion plans,
 the Company's ability to raise additional capital, the competitive environment
 in which the Company will be competing, and the Company's dependence on
 strategic relationships.  The Company assumes no obligation to update the
 information in the release.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X66395795
 
 SOURCE  Biomerica, Inc.