Chembio posts loss as sales drop 24 percent

Chembio Diagnostics Inc., the local company working to develop a rapid test for Ebola, lost $271,000 in the July-September period, it said Thursday.

The Medford-based business had posted a $717,000 profit in the same period a year earlier.

Sales in the quarter totaled $7.3 million, a 24 percent decline from 2013's $9.6 million. The company's point-of-care tests for HIV and syphilis are used extensively overseas including in South America and elsewhere.

Last week, Chembio announced a partnership with a Maryland biotechnology company to develop a rapid test for Ebola. The company also said it was pursuing tests for dengue fever virus and an undisclosed type of cancer.

Chembio employs 163 workers, a drop of 43 from last year. However, chief executive John J. Sperzel told stock analysts Thursday that he plans to triple the U.S. sales team to six people this year.