Biomerica Reports $72,548 Loss for Year

Biomerica Inc., a Newport Beach manufacturer of medical diagnostic products, reported a net loss of $72,548, or 2 cents a share, for the fiscal year ended May 31, contrasted with net income of $141,432, or 3 cents a share, for the previous year. Sales declined 7% to $8.7 million. The company attributed the sales drop to a decline in sales to foreign distributors.