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Last $2.26 USD
Change Today +0.07 / 3.20%
Volume 79.7K
ERB On Other Exchanges
Symbol
Exchange
NYSE Amex
Frankfurt
As of 3:16 PM 07/1/15 All times are local (Market data is delayed by at least 15 minutes).

erba diagnostics inc (ERB) Snapshot

Open
$2.18
Previous Close
$2.19
Day High
$2.30
Day Low
$2.13
52 Week High
09/10/14 - $4.13
52 Week Low
07/17/14 - $1.65
Market Cap
99.6M
Average Volume 10 Days
33.2K
EPS TTM
$-0.02
Shares Outstanding
44.1M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for ERBA DIAGNOSTICS INC (ERB)

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erba diagnostics inc (ERB) Details

Erba Diagnostics, Inc. develops, manufactures, and markets diagnostic test kits or assays, and automated systems that are used to aid in the detection of disease markers primarily in the areas of autoimmune, infectious diseases, clinical chemistry, hematology, and diabetes testing. It manufactures scientific and laboratory instruments, such as Mago 4, Mago 4S, and Mago Plus systems, which perform tests in an automated mode; sells other diagnostic products manufactured by third parties in Italy; and develops, manufactures, and markets raw materials, such as antigens that are used in the production of diagnostic kits. The company also develops, manufactures, and markets autoimmune reagents and research products for use by research laboratories and commercial diagnostic manufacturers. In addition, the company provides instruments for blood cell counting and blood analysis; supplies reagents and other consumable materials; sells diabetic testing products, including the DS5 instrument, dispenser, and associated reagent kits, which measure long-term glucose control in diabetic patients; and offers equipment for use in the field of human and veterinary hematology. Further, it manufactures and sells liquid stable, diagnostics chemistry reagents used for in vitro diagnostics testing. The company markets its products through its sales force to hospitals, reference laboratories, clinical laboratories, and research laboratories, as well as to other commercial companies that manufacture diagnostic products in the United States; and through sales representatives and independent agents in Italy, as well as through independent distributors internationally. The company was formerly known as IVAX Diagnostics Inc. and changed its name to ERBA Diagnostics, Inc. in June 2012. The company was founded in 1980 and is based in Miami, Florida. Erba Diagnostics, Inc. operates as a subsidiary of ERBA Diagnostics Mannheim GmbH.

erba diagnostics inc (ERB) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: $204.7K
Compensation as of Fiscal Year 2014.

erba diagnostics inc (ERB) Key Developments

ERBA Diagnostics, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

ERBA Diagnostics, Inc. announced unaudited consolidated earnings results for the first quarter Ended March 31, 2015. For the quarter, net revenue was $4,853,076 against $6,371,112 a year ago. Loss from operation was $673,705 against income from operation of $249,246 a year ago. Loss before provision for income taxes was $991,615 against income before provision for income taxes of $193,775 a year ago. Net loss was $1,018,967 or $0.02 per basic and diluted share against net income of $164,246 or $0.00 per basic and diluted share a year ago. Revenues in the first quarter of 2015 decreased compared to the same period of 2014 due to decreased sales in many of major international markets. In addition, the strengthening of the U.S. dollar relative to foreign currencies adversely impacted net revenue for the first quarter of 2015 as compared to the same period of 2014. The decreases in gross margin and net income during the first quarter of 2015 compared to the same period of 2014 were primarily the result of decreased revenues during the 2015 period.

ERBA Diagnostics Not In Compliance With NYSE's Company Guide

On May 21, 2015, ERBA Diagnostics, Inc. received a letter from NYSE MKT LLC stating that the Exchange has determined that the Company is not in compliance with Sections 134 and 1101 of the Exchange’s Company Guide due to the Company’s failure to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 with the Securities and Exchange Commission (the “SEC”). The letter also states that the Company’s failure to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 is a material violation of its listing agreement with the Exchange and, therefore, pursuant to Section 1003(d) of the Company Guide, the Exchange is authorized to suspend and, unless prompt corrective action is taken, remove the Company’s securities from the Exchange. In the letter, the Exchange has acknowledged that the Company filed its Annual Report on Form 10-K for the year ended December 31, 2014 with the SEC on May 15, 2015, which was consistent with timeline and actions that the Company had articulated in its plan of compliance (the “Plan”) that the Company had provided to the Exchange on May 1, 2015. In the letter, the Exchange has informed the Company that, because the additional deficiencies resulting from the Company’s failure to timely file its Quarterly Report on Form 10-Q are of a similar nature of the prior deficiencies resulting from the Company’s prior failure to timely file its Annual Report on Form 10-K, the Company may (but is not required to) submit a supplement to its Plan (the “Supplement to Plan”) addressing how it intends to regain compliance with Sections 134 and 1101 of the Company Guide by August 19, 2015 (the “Plan Period”). If the Company does not make progress consistent with the Plan or any Supplement to Plan during the Plan Period, or if the Company does not cure its deficiencies prior to the expiration of the Plan Period, then the Exchange staff will initiate delisting proceedings as appropriate. The Company is working diligently to regain compliance with the Company Guide by August 19, 2015.

ERBA Diagnostics, Inc. Announces Earnings Results for the Year Ended December 31, 2014

ERBA Diagnostics, Inc. announced earnings results for the year ended December 31, 2014. For the year, the company reported net income of $450,000, compared to net income of $676,000 for the year ended December 31, 2013. Net revenues decreased by $1,863,000 to $26,392,000 in 2014 from $28,255,000 in 2013. This 7% decrease was primarily attributed to a decrease in net revenues of $2,231,000 from domestic operations during 2014, compared to 2013, due to a number of factors including the move of the facility location which caused disruption in production/operation and changes in the sales organization as well as reduced headcount from attrition and reorganization initiatives. Operating income was $873,000 in 2014 compared to an operating income of $1,037,000 in 2013, a decrease of $164,000, or 16%. The decrease in operating income in 2014 as compared to 2013 resulted primarily from the reduction in gross profit, which was partially offset by the reductions in selling and research and development expenses due to cost containment efforts designed to align with the lower revenues and to fund the facility move which is reflected in the higher general and administrative expenses.

 

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Industry Analysis

ERB

Industry Average

Valuation ERB Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 3.9x
Price/Book 5.7x
Price/Cash Flow NM Not Meaningful
TEV/Sales 3.7x
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