ERBA Diagnostics, Inc. announced unaudited consolidated earnings results for first quarter ended Mar. 31, 2014. For the quarter, the company reported net revenue of $6,371,112, income from operations of $249,246, income before provision for income taxes of $193,775, net income of $164,246 compared to the net revenue of $6,708,107, income from operations of $63,831, loss before provision for income taxes of $206,058, net loss of $247,052 or $0.01 per basic and diluted share for the same quarter a year ago.

Revenues decreased by 5%, driven mainly by slow sales in Russia due to the political conflict in the region and by ongoing reorganization of international sales organization. Income from operations increase was primarily related to the reversal of bad debt allowance at Delta Biologicals, S.r.L., wholly-owned subsidiary located in Italy, of approximately $153,000 and to the billing to ERBA Diagnostics Mannheim GmbH of approximately $190,000 of research and development costs at Delta Biologicals, S.r.L., offset by the decrease in gross profit from decreased net revenues.