ERBA Diagnostics, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. The company recorded quarterly revenue of $6,469,488 and net income of $127,918 for the third quarter of 2014. This compares to revenue of $6,940,713 and net income of $129,229 for the third quarter of 2013. This decrease in revenue is primarily attributed to the affects from sales to Russia and Africa, deferred production related to consolidation of manufacturing and the phasing out of older lower margin products as ERBA Diagnostics shifts toward selling higher margin instruments and consumables. Income from operations was $351,066 for the third quarter of 2014, compared to $78,541 in the third quarter of 2013. Income before provision for income taxes was $157,051 against $156,523 a year ago.

For the nine months, the company reported net revenue of $20,381,257 against $20,538,079 a year ago. Income from operations was $1,154,282 as compared to $229,924 a year ago. Income before provision for income taxes was $832,120 against $49,498 a year ago. Net income was $743,944 or $0.01 per diluted share against net loss of $30,490 a year ago.

Looking ahead to 2015 and beyond, the company expected further revenue growth to come from a combination of new products are developing or may distribute.