NEW YORK (GenomeWeb) – Chembio Diagnostics reported on Tuesday a 2 percent year-over-year drop in total revenues, with product revenues receding nearly 14 percent.

The company recorded $4.3 million in total revenues for the three months ended Dec. 31, 2016, down from $4.4 million in the year-ago quarter.

Net product sales fell to $3.2 million in Q4 2016 from $3.7 million in Q4 2015, while license and royalty revenues grew to $315,835 from $18,736. R&D, milestone, and grant revenues were up 8 percent to $712,122 from $661,256.

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