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2nd Quarter 2008 Financials -- January 15, 2008
1/15/2008
 
BIOMERICA ANNOUNCES SECOND QUARTER FINANCIAL RESULTS
Income from operations up over 38% for the 6 months ended November 30, 2007

NEWPORT BEACH, California, January 15, 2008 – Biomerica, Inc. (OTC BB: BMRA) today reported net sales of $2,367,599 for the first six months of fiscal 2008 compared to $2,485,442 for the first six months in fiscal 2007, a decrease of $117,843, or 4.7%.  Net sales were $1,027,534 for the three months ended November 30, 2007, compared to $1,332,176 for the same period in the previous year.  The primary result of the decrease in sales was due to the loss of one large customer in Australia.

Biomerica announced net income for the six months ended November 30, 2007, of $888,744 versus a net income of $171,020 in the previous fiscal year during the same period, an increase of $717,724, or 419.0%.  This includes income of $697,034 on the sale of the Hollister-Stier Laboratories securities Biomerica held for investment. The net income for the three months ended November 30, 2007 was $3,358, compared to net income of $106,448 in the same quarter the previous fiscal year.  

Consolidated operating income (not including the gain on the sale of Hollister-Stier securities) for the first six months of fiscal 2008 ended November 30, 2007 was $220,680, versus consolidated operating income of $159,358 in fiscal 2007, an increase of over 38%.  

“While we are disappointed with sales this quarter, we continue to be optimistic about the growth prospects for our products both current and new,” stated Zackary Irani, Biomerica CEO.   “We are looking forward to introducing a number of new products during this fiscal year.”

About Biomerica (OTCBB: BMRA)
Biomerica, Inc. (www.biomerica.com) is a global medical technology company, based in Newport Beach, CA.  The Company’s diagnostics division manufactures and markets advanced diagnostic products used at home, in hospitals, and in physicians’ offices for the early detection of medical conditions and diseases.

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking; such as statements relating to intended launch dates, sales potential, significant benefits, market size, growth prospects, new products, favorable positions, expansion, expected orders, leading market positions, anticipated future revenues or production volume of the Company, success of product and new product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. The potential risks and uncertainties include, among others, fluctuations in the Company’s operating results due to its business model and expansion plans, downturns in international and or national economies, the Company’s ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company’s dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.

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