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Benzinga
Benzinga
Business
Henry Khederian

Why Chembio Diagnostics Shares Are Falling

Chembio Diagnostics

Chembio Diagnostics Inc (NASDAQ:CEMI) shares are trading lower by 12.4% at $0.81 after the company reported worse-than-expected fourth-quarter adjusted EPS results.

Chembio Diagnostics reported quarterly losses of 32 cents per share which missed the analyst consensus estimate of a loss of 20 cents per share by 60 percent. Chembio Diagnostics also reported quarterly sales of $20.57 million which beat the analyst consensus estimate of $13.55 million by 52%. This sales figure represents a 101% increase over sales of $10.23 million in the same period last year.

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