Business & Finance

HIV test maker sees Q4 revenue, margin gains; 140% increase in HIV product sales

Published in AIDS Weekly, January 24th, 2005

Chembio Diagnostics, Inc., (CEMI), a company involved in the development and manufacture of rapid tests for HIV and other infectious diseases, announced that it expects 2004 fourth-quarter net revenue and gross margins to be substantially improved.

The company expects fourth-quarter net revenue will exceed $1.1 million and that gross margins will exceed 40%. As a result, the company expects total net revenues increasing in 2004 over 2003 by at least 15%, despite significantly reduced revenue from noncore and discontinued products of about $700,000.

Lawrence A. Siebert, Chembio's president, commented, "These results demonstrate that our shift from...

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Source: AIDS Weekly (2005-01-24)

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