Biomerica Reports Fiscal 2023 Year End Results
Net sales for the fiscal year ended May 31, 2023 were $5.3 million as compared to net sales of $18.9 million in fiscal 2022.
- Net sales for the fiscal year ended May 31, 2023 were $5.3 million as compared to net sales of $18.9 million in fiscal 2022.
- Net loss was $7.1 million for fiscal 2023 compared to a net loss of $4.6 million for fiscal 2022.
- The decrease in sales for fiscal 2023 was related to the Company’s decrease in sales of COVID-19 antigen tests in fiscal 2023 compared to the prior fiscal year.
- Sales revenues excluding Covid test sales increased by 15% for fiscal 2023 compared to fiscal 2022.