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.