ABMC Reports Fourth Quarter and Year End 2020 Results pittsburghstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pittsburghstar.com Daily Mail and Mail on Sunday newspapers.
American Bio Medica Corporation: ABMC Reports Fourth Quarter and Year End 2020 Results
KINDERHOOK, NY / ACCESSWIRE / April 15, 2021 /
American Bio Medica Corporation (OTCQB:ABMC) today announced financial results for the fourth quarter and year ended December 31, 2020.
Chief Executive Officer, Melissa A. Waterhouse stated, We came into 2020 with the second half of 2019 showing modest growth over the second half of 2018. We were hopeful that two new contract customers obtained in 2019 would result in a better 2020 for ABMC. Unfortunately, the Covid-19 pandemic interrupted this positive momentum. Although our core business (manufacturing drug tests and performing contract manufacturing services) was being negatively impacted, ABMC was able to react quickly and pivot to distribution of Covid-19 tests starting in March 2020. Sales of Covid-19 tests in the amount of $1,573,000; the vast majority of which was Covid-19 antibody tests, enabled ABMC to increase sales in 2020 by 13.5%.