SEC 8-K filings with transcript text
Dec 16, 2021
Form 8K
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 16, 2021
(Exact name of registrant as specified in its charter) Delaware 001-37863 95-2645573
(State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)
17571 Von Karman Ave. Irvine, California 92614
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (949) 645-2111 Not Applicable (Former name or former address if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 2.02 Results of Operations and Financial Condition.
On December 16, 2021, Biomerica, Inc. (the “Company”) issued a press release reporting its preliminary financial results for the three months ended November 30, 2021. A copy of the press release is furnished with this Current Report on Form 8-K and attached hereto as Exhibit 99.1.
The information furnished under this Item 2.02 and the exhibit attached hereto as Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing by the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 8.01 Other Events.
For the second quarter of fiscal 2022, ended November 30, 2021, the Company expects to report revenue of approximately $4.6 million, an increase of 238% as compared to the second quarter of fiscal 2021 revenues of approximately $1.4 million. The increased revenue was driven primarily by increased demand for the Company’s Covid tests. The Company also enters its third quarter of fiscal 2022 with over $4.0 million of outstanding unfilled customer orders (backlog). The increase in backlog is also primarily attributable to the Company’s Covid tests. For the second quarter ended November 30, 2021, the Company also expects to report an operating loss of between $0.9 million and $1.3 million. The Company ended the second quarter with over $7 million of cash on the balance sheet.
The Company experienced logistics constraints and significantly higher shipping costs which had a material negative impact on margins and profits during the second quarter.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this Current Report contains statements that are forward-looking, such as statements relating to the Company’s estimated financial results, future revenue and operating margins, demand for the Company’s products, the Company’s ability to fulfill orders, and clinical trials. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, including, without limitation: results of studies testing the efficacy of the Company’s tests, InFoods tests and other products; regulatory approvals necessary prior to commercialization of the Company’s products; availability of the Company’s test kits and other products; capacity, resource and other constraints on the Company’s suppliers; dependence on the Company’s third party manufacturers; dependence on international shipping carriers; governmental import/export regulations; demand for the Company’s various tests and other products; competition from other similar products and from competitors that have significantly more financial and other resources available to them; governmental vir
This page provides Biomerica Inc. (BMRA) earnings call transcripts from SEC 8-K filings along with AI-powered predictions for post-earnings price movements. Our machine learning models analyze historical earnings data, pre-earnings price patterns, volume changes, and volatility to predict 1-day, 5-day, and 20-day returns after each earnings release.
Earnings transcripts are sourced directly from SEC EDGAR filings. Predictions are generated using gradient boosting models trained on BMRA's historical earnings reactions. All predicted returns are shown as percentages, and predicted prices are calculated from the closing price at the time of prediction. Past performance does not guarantee future results.