Biomerica Inc.: The Newport Beach medical diagnostic...

Biomerica Inc.: The Newport Beach medical diagnostic products company reported record net income of $446,845, or 12 cents a share, for the fiscal year ended May 31, up 3% from $432,727, or 12 cents a share, the previous year. Revenue was down 3% to $9.2 million from $9.5 million.

The company attributed the lower revenue to manufacturing restructuring at its Lancer subsidiary.