10-Q Filing

BIOMERICA INC CIK: 73290 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001513162-13-000291`
Period End Date	20130228
Filing Date	20130415
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	bmra-20130228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 79 Cash Flow Statement 54

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$113.19K	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$112.06K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$898.46K	USD	Point-in-time
Accumulated depreciation and amortization (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$844.68K	USD	Point-in-time
Accumulated depreciation and amortization (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$987.17K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$989.27K	USD	Point-in-time
Preferred Stock, Par Value Per Share (in Dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred Stock, Par Value Per Share (in Dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $112,058 and $113,191 as of February 28, 2013 and May 31, 2012, respectively	`AccountsReceivableNetCurrent`	$1.20M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $112,058 and $113,191 as of February 28, 2013 and May 31, 2012, respectively	`AccountsReceivableNetCurrent`	$513.31K	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.71M	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.82M	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
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$224.25K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$210.70K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred tax assets, current portion	`DeferredTaxAssetsNetCurrent`	$177.00K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred tax assets, current portion	`DeferredTaxAssetsNetCurrent`	$177.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.49M	USD	Point-in-time
Common Stock, Par Value Per Share (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.08	USD	Point-in-time
Common Stock, Par Value Per Share (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.08	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.94M	USD	Point-in-time
Property and Equipment, net of accumulated depreciation and amortization of $987,167 and $844,684 as of February 28, 2013 and May 31, 2012, respectively	`PropertyPlantAndEquipmentNet`	$691.75K	USD	Point-in-time
Property and Equipment, net of accumulated depreciation and amortization of $987,167 and $844,684 as of February 28, 2013 and May 31, 2012, respectively	`PropertyPlantAndEquipmentNet`	$584.82K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	7.05M	shares	Point-in-time
Deferred Tax Assets, net of current portion	`DeferredTaxAssetsNetNoncurrent`	$61.00K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	6.95M	shares	Point-in-time
Deferred Tax Assets, net of current portion	`DeferredTaxAssetsNetNoncurrent`	$61.00K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	6.95M	shares	Point-in-time
Investments	`Investments`	$165.32K	USD	Point-in-time
Investments	`Investments`	$165.32K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	7.05M	shares	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$194.58K	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$172.66K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$81.33K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$78.56K	USD	Point-in-time
Total Assets	`Assets`	$5.57M	USD	Point-in-time
Total Assets	`Assets`	$6.11M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$362.45K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$366.39K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$217.71K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$186.84K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$43.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$592.29K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$584.10K	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, no par value authorized 5,000,000 shares, none issued and none outstanding at February 28, 2013 and May 31, 2012	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value authorized 5,000,000 shares, none issued and none outstanding at February 28, 2013 and May 31, 2012	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.08 par value authorized 25,000,000 shares, issued and outstanding 7,050,214 and 6,952,339 at February 28, 2013 and May 31, 2012, respectively	`CommonStockValue`	$556.19K	USD	Point-in-time
Common stock, $0.08 par value authorized 25,000,000 shares, issued and outstanding 7,050,214 and 6,952,339 at February 28, 2013 and May 31, 2012, respectively	`CommonStockValue`	$564.02K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$17.79M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$17.74M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.74K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.03K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.82M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.31M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$4.98M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$5.53M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$6.11M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$5.57M	USD	Point-in-time

Income Statement 79 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$5.00M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$1.51M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$4.54M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$1.42M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$2.79M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$3.06M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$971.32K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$947.83K	USD	1 Quarter
Gross profit	`GrossProfit`	$566.84K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.75M	USD	3 Qtrs
Gross profit	`GrossProfit`	$445.38K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.95M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$358.53K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.10M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.04M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$337.58K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$150.18K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$353.90K	USD	3 Qtrs
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`	$508.71K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.45M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$496.31K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-63.33K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$445.48K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$134.49K	USD	1 Quarter
Gain on insurance	`GainOnInsuranceProceeds`	$68.11K	USD	3 Qtrs
Gain on insurance	`GainOnInsuranceProceeds`	$68.11K	USD	1 Quarter
Dividend and interest income	`OtherInterestAndDividendIncome`	$7.07K	USD	1 Quarter
Dividend and interest income	`OtherInterestAndDividendIncome`	$7.37K	USD	3 Qtrs
Dividend and interest income	`OtherInterestAndDividendIncome`	$9.32K	USD	3 Qtrs
Dividend and interest income	`OtherInterestAndDividendIncome`	$4.59K	USD	1 Quarter
Interest expense	`InterestExpense`	$171.00	USD	1 Quarter
Interest expense	`InterestExpense`	$-6.00	USD	1 Quarter
Interest expense	`InterestExpense`	$302.00	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.11K	USD	3 Qtrs
Other income	`OtherIncome`	$60.00	USD	3 Qtrs
Total other income	`OtherNonoperatingIncomeExpense`	$74.42K	USD	3 Qtrs
Total other income	`OtherNonoperatingIncomeExpense`	$72.53K	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$9.01K	USD	3 Qtrs
Total other income	`OtherNonoperatingIncomeExpense`	$7.08K	USD	1 Quarter
Income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-56.25K	USD	1 Quarter
Income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$505.33K	USD	3 Qtrs
Income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$519.90K	USD	3 Qtrs
Income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$207.02K	USD	1 Quarter
(Provision) benefit for income taxes	`IncomeTaxExpenseBenefit`	$25.57K	USD	1 Quarter
(Provision) benefit for income taxes	`IncomeTaxExpenseBenefit`	$-20.64K	USD	1 Quarter
(Provision) benefit for income taxes	`IncomeTaxExpenseBenefit`	$12.39K	USD	3 Qtrs
(Provision) benefit for income taxes	`IncomeTaxExpenseBenefit`	$25.57K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$181.44K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-35.61K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$494.33K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$492.94K	USD	3 Qtrs
Basic net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasic`	$0.07	USD	3 Qtrs
Basic net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Basic net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasic`	$0.07	USD	3 Qtrs
Basic net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	3 Qtrs
Diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.87M	shares	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.88M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.00M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.97M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.41M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.00M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.13M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.05M	shares	3 Qtrs
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-1.53K	USD	3 Qtrs
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$95.00	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-2.71K	USD	3 Qtrs
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-2.15K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-37.77K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$490.23K	USD	3 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$181.54K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$492.80K	USD	3 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$181.44K	USD	1 Quarter
Net income	`NetIncomeLoss`	$-35.61K	USD	1 Quarter
Net income	`NetIncomeLoss`	$494.33K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$492.94K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$129.80K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$164.41K	USD	3 Qtrs
Stock option expense	`StockOptionPlanExpense`	$17.16K	USD	3 Qtrs
Stock option expense	`StockOptionPlanExpense`	$29.96K	USD	3 Qtrs
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$-4.13K	USD	3 Qtrs
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$37.11K	USD	3 Qtrs
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$3.89K	USD	3 Qtrs
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$2.69K	USD	3 Qtrs
Decrease in deferred rent liability	`IncreaseDecreaseInDeferredRentLiability`	$-1.55K	USD	3 Qtrs
Decrease in deferred rent liability	`IncreaseDecreaseInDeferredRentLiability`	$-3.42K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-633.45K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$691.34K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$111.94K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-79.17K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-13.55K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$54.52K	USD	3 Qtrs
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$27.07K	USD	3 Qtrs
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.36K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-5.66K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-2.77K	USD	3 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$47.50K	USD	3 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$30.87K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$103.13K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.50M	USD	3 Qtrs
Increase in intangibles	`PaymentsToAcquireIntangibleAssets`	$50.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$249.41K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$135.53K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-185.53K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-249.41K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$40.41K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$28.50K	USD	3 Qtrs
Payments on line of credit or equipment loan	`RepaymentsOfBankDebt`	$43.00K	USD	3 Qtrs
Payments on line of credit or equipment loan	`RepaymentsOfBankDebt`	$35.39K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.89K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.59K	USD	3 Qtrs
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.71K	USD	3 Qtrs
Effect of exchange rate changes in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.53K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.24M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-90.81K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.32M	USD	Point-in-time
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 end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.32M	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
Interest	`InterestPaid`	$302.00	USD	3 Qtrs
Interest	`InterestPaid`	$899.00	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$108.16K	USD	3 Qtrs

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