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Chembio Reports 3rd Quarter 2011 Results
Date:11/3/2011

2,208,501$
,647,353$
5,609,841 Research and development expenses $
,242,295$
,230,100$
3,697,309$
2,822,455 Selling, general and administrative expenses $
949,237$
801,854$
2,412,867$
2,143,715 NET INCOME FROM OPERATIONS $
479,201$
76,547$
537,177$
43,671 NET INCOME $
475,605$
7,976$
528,147$
32,568 Basic net income per share $
.01$
.00$
.01$
.01 Weighted average number of shares outstanding, basic  63,304,58462,146,84762,887,21262,068,204Chembio Diagnostics, Inc.Summary of Balance SheetsSeptember 30, 2011Dec 31, 2010(Unaudited)CURRENT ASSETS:Cash and cash equivalents

$
3,045,348$
2,136,351Accounts receivable, net of allowance for doubtful accounts of $20,000 and $35,000 for 2011 and 2010, respectively

2,657,7813,946,398Inventories

2,588,2251,349,161Prepaid expenses and other current assets

188,841204,824TOTAL CURRENT ASSETS8,480,1957,636,734FIXED ASSETS, net of accumulated depreciation 848,799813,214OTHER ASSETSDeposits on equipment208,460-License agreements and other assets561,226636,226$
,098,680$
9,086,174TOTAL CURRENT LIABILITIES$
3,199,016$
3,076,457TOTAL OTHER LIABILITIES145,859200,773TOTAL LIABILITIES3,344,8753,277,230TOTAL STOCKHOLDERS' EQUITY6,753,8055,808,944$
,098,680$
9,086,174Chembio Diagnostics, Inc.Summary of Cash FlowFor the nine months ended (Unaudited)September 30, 2011September 30, 2010Net cash provided by operating activities$
,559,123$
213,731Net cash used in investing activities(282,175)(188,193)Net cash (used in) provided by financing activities(367,951)242,210INCREASE IN CASH AND CASH EQUIVALENTS$
908,997$
267,748
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SOURCE Chembio Diagnostics, Inc.
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