10-Q Filing

BIOMERICA INC CIK: 73290 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001513162-12-000245`
Period End Date	20120229
Filing Date	20120416
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	bmra-20120229.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 88 Cash Flow Statement 56

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$69.31K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$32.20K	USD	Point-in-time
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.08	USD	Point-in-time
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.08	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$898.46K	USD	Point-in-time
Common Stock,Shares Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$989.27K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$904.06K	USD	Point-in-time
Common Stock,Shares Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	6.92M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	6.87M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.34M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$747.08K	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.79M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.86M	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	6.92M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	6.87M	shares	Point-in-time
Preferred Stock, Par Value Per Share	`PreferredStockNoParValue`	-	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$237.56K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$183.05K	USD	Point-in-time
Preferred Stock, Par Value Per Share	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred Stock,Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock,Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Deferred tax assets, current portion	`DeferredTaxAssetsNetCurrent`	$127.00K	USD	Point-in-time
Deferred tax assets, current portion	`DeferredTaxAssetsNetCurrent`	$127.00K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.41M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.89M	USD	Point-in-time
Property and Equipment, net of accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$597.10K	USD	Point-in-time
Property and Equipment, net of accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$567.32K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred Tax Assets, net of current portion	`DeferredTaxAssetsNetNoncurrent`	$111.00K	USD	Point-in-time
Deferred Tax Assets, net of current portion	`DeferredTaxAssetsNetNoncurrent`	$111.00K	USD	Point-in-time
Investments	`Investments`	$165.32K	USD	Point-in-time
Investments	`Investments`	$165.32K	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$203.36K	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$177.41K	USD	Point-in-time
Other Assets	`OtherAssets`	$47.89K	USD	Point-in-time
Other Assets	`OtherAssets`	$53.55K	USD	Point-in-time
Total Assets	`Assets`	$4.96M	USD	Point-in-time
Total Assets	`Assets`	$5.54M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$451.57K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$451.83K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$138.06K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$185.56K	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$25.26K	USD	Point-in-time
Loan for equipment purchase	`LoansPayableToBankCurrent`	-	USD	Point-in-time
Loan for equipment purchase	`LoansPayableToBankCurrent`	$35.39K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$662.64K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$625.01K	USD	Point-in-time
Commitments and Contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$549.47K	USD	Point-in-time
Common stock	`CommonStockValue`	$553.47K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$17.70M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$17.64M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.99K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.46K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.36M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$4.88M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$4.33M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$5.54M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$4.96M	USD	Point-in-time

Income Statement 88 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.51M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$3.68M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$4.54M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$1.35M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$2.79M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$2.50M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$947.83K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$846.42K	USD	1 Quarter
Gross profit	`GrossProfit`	$566.84K	USD	1 Quarter
Gross profit	`GrossProfit`	$499.48K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.19M	USD	3 Qtrs
Gross profit	`GrossProfit`	$1.75M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.04M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$329.46K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$990.65K	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$337.58K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$314.98K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$97.01K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$94.77K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$266.26K	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.31M	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$432.35K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$426.46K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.31M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$445.48K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$73.02K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$134.49K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-116.83K	USD	3 Qtrs
Gain on insurance proceeds	`GainOnInsuranceProceeds`	-	USD	3 Qtrs
Gain on insurance proceeds	`GainOnInsuranceProceeds`	$68.11K	USD	3 Qtrs
Gain on insurance proceeds	`GainOnInsuranceProceeds`	$68.11K	USD	1 Quarter
Gain on insurance proceeds	`GainOnInsuranceProceeds`	-	USD	1 Quarter
Dividend and interest income	`OtherInterestAndDividendIncome`	$5.68K	USD	3 Qtrs
Dividend and interest income	`OtherInterestAndDividendIncome`	$1.73K	USD	1 Quarter
Dividend and interest income	`OtherInterestAndDividendIncome`	$7.37K	USD	3 Qtrs
Dividend and interest income	`OtherInterestAndDividendIncome`	$4.59K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.34K	USD	1 Quarter
Interest expense	`InterestExpense`	$171.00	USD	1 Quarter
Interest expense	`InterestExpense`	$5.11K	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.11K	USD	3 Qtrs
Other income, net	`OtherIncome`	-	USD	1 Quarter
Other income, net	`OtherIncome`	$177.60K	USD	3 Qtrs
Other income, net	`OtherIncome`	$60.00	USD	3 Qtrs
Other income, net	`OtherIncome`	-	USD	1 Quarter
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$74.42K	USD	3 Qtrs
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$388.00	USD	1 Quarter
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$178.18K	USD	3 Qtrs
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$72.53K	USD	1 Quarter
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$61.35K	USD	3 Qtrs
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$73.40K	USD	1 Quarter
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$519.90K	USD	3 Qtrs
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$207.02K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$25.57K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$25.57K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$61.35K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$181.44K	USD	1 Quarter
Net income	`NetIncomeLoss`	$494.33K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$73.40K	USD	1 Quarter
Basic net income per common share	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic net income per common share	`EarningsPerShareBasic`	$0.01	USD	3 Qtrs
Basic net income per common share	`EarningsPerShareBasic`	$0.07	USD	3 Qtrs
Basic net income per common share	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$0.07	USD	3 Qtrs
Diluted net income per common share	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$0.01	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesIssuedBasic`	6.66M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesIssuedBasic`	6.66M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesIssuedBasic`	6.87M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesIssuedBasic`	6.88M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.05M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.69M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.69M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.13M	shares	1 Quarter
Net income	`ProfitLoss`	$61.35K	USD	3 Qtrs
Net income	`ProfitLoss`	$181.44K	USD	1 Quarter
Net income	`ProfitLoss`	$73.40K	USD	1 Quarter
Net income	`ProfitLoss`	$494.33K	USD	3 Qtrs
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-308.00	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-1.53K	USD	3 Qtrs
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-1.01K	USD	3 Qtrs
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$95.00	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$73.09K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$181.54K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$60.34K	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$492.80K	USD	3 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$61.35K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$181.44K	USD	1 Quarter
Net income	`NetIncomeLoss`	$494.33K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$73.40K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$129.80K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$109.61K	USD	3 Qtrs
Stock option expense	`StockOptionPlanExpense`	$18.98K	USD	3 Qtrs
Stock option expense	`StockOptionPlanExpense`	$29.96K	USD	3 Qtrs
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$-8.90K	USD	3 Qtrs
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$37.11K	USD	3 Qtrs
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$2.69K	USD	3 Qtrs
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$-5.36K	USD	3 Qtrs
Write-off of license-related intangible asset	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	-	USD	3 Qtrs
Write-off of license-related intangible asset	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	$13.98K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-633.45K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$33.58K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-79.17K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-39.41K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$54.52K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$63.75K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$21.58K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-5.66K	USD	3 Qtrs
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$259.00	USD	3 Qtrs
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-125.99K	USD	3 Qtrs
Accrued compensation	`IncreaseDecreaseInOtherEmployeeRelatedLiabilities`	$47.50K	USD	3 Qtrs
Accrued compensation	`IncreaseDecreaseInOtherEmployeeRelatedLiabilities`	$-77.29K	USD	3 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$25.26K	USD	3 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$103.13K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$65.89K	USD	3 Qtrs
Increase in intangibles	`PaymentsToAcquireIntangibleAssets`	$50.00K	USD	3 Qtrs
Increase in intangibles	`PaymentsToAcquireIntangibleAssets`	$98.77K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$135.53K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$83.69K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-185.53K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-182.47K	USD	3 Qtrs
Proceeds from exercise of stock option	`ProceedsFromStockOptionsExercised`	-	USD	3 Qtrs
Proceeds from exercise of stock option	`ProceedsFromStockOptionsExercised`	$28.50K	USD	3 Qtrs
Payments on equipment loan	`RepaymentsOfBankDebt`	$35.39K	USD	3 Qtrs
Payments on equipment loan	`RepaymentsOfBankDebt`	$33.55K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-33.55K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.89K	USD	3 Qtrs
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.01K	USD	3 Qtrs
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.53K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-90.81K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-151.14K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$898.46K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$989.27K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$904.06K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$898.46K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$989.27K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$904.06K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	USD	Point-in-time
Cash paid during the period for Interest	`InterestPaid`	$1.02K	USD	3 Qtrs
Cash paid during the period for Interest	`InterestPaid`	$4.92K	USD	3 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.