Chembio Diagnostics of Medford reports year-end profit
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Chembio Diagnostics Inc., Medford
Maker of diagnostic medical tests
Year: Ended Dec. 31
Net income: Profit of $309,000, compared with a loss of $1.9 million in the same period last year.
Net revenue: $13.8 million compared with $11 million in the year before.
Outlook: "I believe we are very well positioned to deliver continued growth in 2010 and beyond, as the growth from our base business is accelerated," Chembio's president, Lawrence A. Siebert, said in a news release.
Company statement: "We are very pleased with our 2009 results, which included strong growth in our base business of lateral flow HIV tests, and record revenue from research and development contracts and grants."
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