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.