Chembio Diagnostic Systems

Westbound Falconstor erases 4Q, fiscal year losses

  FALCONSTOR SOFTWARE INC. Headquarters: Austin, Texas Industry: Software OTC: FALC Reporting Date: March 22, 2018 Reporting Quarter: 4Q FY2017 Quarter Ended: Dec. 31, 2017 Numbers: Total revenues for the three months ended Dec. 31, 2017, were reported as $6.3 million, a 14.8 percent decrease from the $7.4 million reported for the same quarter last fiscal year. Net GAAP operating income was reported as $1.4 million, turning around a $1.2 million loss reported for 4Q…


No. 292: CEBIP cleans up, Biscotti makes a move and Albany’s new Life Sciences panel comes up short on Long Island

You made it: The week and the winter did their best, dear readers, but you’ve prevailed – welcome to March 23, and a clearly shoveled path to a well-earned weekend. This week’s spring blizzard was frustrating and all, but still nothing like the Great Blizzard of 1888, another March madness that blew in on 80 mph winds, dumped nearly five feet of snow on Saratoga Springs, crippled the Boston-NYC corridor for three days and buried…


No. 270: Med-tech in China, shorter mastheads in Uniondale and New York’s front-line role in America’s ‘economic civil war’

Any Kiowa Indians in the house? If so, have an especially peaceful and pleasant Jan. 5, known also as “The Night the Stars Fell” to the Kiowa and other Northern Plains tribes, in reference to an unusually intense meteor shower – the second such “storm” in six weeks – recorded on this date in 1834. Speaking of bomb cyclones: Winter Storm Grayson lived up to its bitter billing this week, but take a bow (carefully)…


No. 260: Northwell’s innovation winners, SUNY medical schools feeling the pinch and SAFE RIDE LI thanks to MADD and Uber

Gobble gobble: And all that good stuff, dear readers. The Innovate LI team is looking forward to some quality family time over the holiday weekend, so no Black Friday newsletter. We’ll catch up with you Monday – but we’ll still be checking editor@innovateli.com for story tips, calendar items and leftover-stuffing recipes. Blackout warning: “Black Friday” you know, but “Blackout Wednesday?” That’s the term of choice in a joint statement from Mothers Against Drunk Driving and…


Down, but hardly out, at comeback-primed Chembio

By GREGORY ZELLER // Operating and net losses that more than tripled year-over-year tell only part of the story of Chembio Diagnostic Systems Inc.’s first quarter. That was the message Tuesday from John Sperzel III, chief executive of the point-of-care diagnostics specialist, who addressed investors in a conference call after the firm shared the results of the first quarter of its fiscal 2017, which ended March 31. It was another down quarter for the Medford-based…


Can Chembio rebound? You bet your assays

By GREGORY ZELLER // Chembio Diagnostics Systems Inc. has significantly diversified its product portfolio, built up its global sales infrastructure and expanded its operational capacities – but the numbers just aren’t there for the Medford-based biotech. Reporting Tuesday on the results of its 2016 fourth quarter and its 2016 fiscal year, which both ended Dec. 31., the manufacturer of point-of-care diagnostic tests for infectious diseases (Nasdaq: CEMI) noted a series of down numbers, with declining…


At Chembio, looking beyond the numbers

By GREGORY ZELLER // While it made “important advances … intended to prepare the company for growth,” according to its CEO, Chembio Diagnostic Systems has suffered another subpar fiscal quarter. The news is not all bad for the Medford-based biotech, which produces point-of-care diagnostic tests for a range of medical conditions. Earlier this month, the company announced the acquisition of a private Malaysian distributor of POC diagnostic tests, while Brazil’s national health-regulatory agency has approved…


Sales drop, tax bite sting Chembio Diagnostics

Medford biotech Chembio Diagnostic Systems Inc. took it on the chin in the second quarter, with steep losses attributed to declining sales for its infectious-disease detectors and a one-time, multimillion-dollar tax provision. According to quarterly financials released Thursday, the company – dba Chembio Diagnostics – reported total revenues of $3.27 million in the quarter ended June 30, a 51 percent drop from the $6.72 million reported for 2Q 2015. Quarterly product sales plunged nearly 68…