Biomerica Reports Fiscal Year End May 31, 2020 Financial Results

IRVINE, Calif., Sept. 01, 2020 (GLOBE NEWSWIRE) — Biomerica, Inc. (Nasdaq: BMRA), a global provider of advanced medical products, today reported net sales for the fiscal year ended May 31, 2020 were $6.7 million  versus net sales of $5.2 million in fiscal 2019.  This represents an increase of $1.5 million, or 28.7%.  Net loss was $2.3 million for fiscal 2020 compared to net loss of $2.4 million for fiscal 2019.  Research and Development investment was $1.9 million for fiscal year 2020 compared to $1.7 million the previous year, an increase of over 13%.  Year-end cash and cash equivalents were $8.6 million in fiscal 2020 versus $0.7 million in fiscal 2019 while current assets were $14.8 million in fiscal 2020 versus $4.5 million in fiscal 2019.