ABMC Phone: 800-227-1243


Drug Tests 100% Manufactured in the USA

ABMC Reports First Quarter 2015 Results

KINDERHOOK, N.Y. - May 15, 2015 - American Bio Medica Corporation (ABMC) today announced financial results for the three months ended March 31, 2015.

Chief Executive Officer Melissa A. Waterhouse stated, "The decline in sales in the first quarter 2015 was primarily due to the loss of two state contracts in 2014 (both of which are now using a product manufactured outside of the United States). In addition, contract-manufacturing sales declined as a result of an inventory surplus at one of our contract-manufacturing customers. The surplus has been used and we expect contract-manufacturing levels to return to a level more in line with historical sales."

Waterhouse continued, "A couple months ago, I indicated that 2015 was expected to be a year of investment in selling and marketing and our recent sales levels demonstrate the need for such an investment. In the first quarter of 2015, we hired additional sales representatives to target our core markets in the United States, increased our market presence at industry trade shows, and began new marketing initiatives. Our application for OTC marketing clearance of our urine-based all-inclusive drug test is still under FDA review but we are hopeful that we will have FDA’s decision on the application in the very near future. New assay development continues and is going well."

Financial Highlights

For more information on ABMC or its drug testing products, please visit www.abmc.com.

About American Bio Medica Corporation

American Bio Medica Corporation develops, manufactures and markets accurate, cost-effective immunoassay test kits, primarily point of collection tests for drugs of abuse. The Company and its worldwide distribution network target the workplace, government, corrections, clinical and educational markets. ABMC's Rapid Drug Screen®, Rapid ONE®, RDS® InCup®, Rapid TOX® and Rapid TOX Cup® II test for the presence or absence of drugs of abuse in urine, while OralStat® and Rapid STAT™ test for the presence or absence of drugs of abuse in oral fluids. ABMC's Rapid Reader® is a compact, portable device that, when connected to any computer, interprets the results of an ABMC drug screen, and sends the results to a data management system, enabling the test administrator to easily manage their drug testing program.

This release may contain forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ, and such differences could be material. Such risks and uncertainties include, but are not limited to, risks and uncertainties related to the following: continued acceptance of our products, increased levels of competition in our industry, acceptance of new products, product development, compliance with regulatory requirements, intellectual property rights, our dependence on key personnel, third party sales and suppliers, trading in our common shares may be subject to "penny stock" rules, our history of recurring net losses and our ability to continue as a going concern. There can be no assurance that the Company will be successful in addressing such risks and uncertainties and the Company assumes no duty to update any forward-looking statements based upon actual results. Investors are strongly encouraged to review the section entitled "Risk Factors" in the Company's annual report on Form 10-K for the year ended December 31, 2013, quarterly reports on Form 10-Q, and other periodic reports on file with the Securities and Exchange Commission for a discussion of risks and uncertainties that could affect operating results and the market price of the Company's common shares.

(financial tables follow)

Condensed Statements of Operations
For the three For the three
months ended months ended
March 31, 2014 March 31, 2014
Net sales $ 1,502,000 $ 2,043,000
Cost of goods sold 802,000 1,166,000
Gross profit 700,000 877,000
Operating expenses:
Research and development 29,000 46,000
Selling and marketing 299,000 292,000
General and administrative 425,000 477,000
Total operating expenses 753,000 815,000
Operating income / (loss) (53,000 ) 62,000
Other income/ (expense) 8,000 (52,000 )
Net income / (loss) before tax (45,000 ) 10,000
Income tax expense 0 (1,000 )
Net income / (loss) $ (45,000 ) $ 9,000
Basic & diluted income / (loss) per common share $ (0.00 ) $ 0.00
Weighted average shares outstanding – basic 24,589,340 23,168,155
Weighted average shares outstanding – diluted 24,589,340 23,260,582
American Bio Medica Corporation
Condensed Balance Sheets
March 31, December 31,




Current Assets
Cash and cash equivalents $ 487,000 $ 352,000
Accounts receivable, net of allowance for doubtful accounts of $45,000 at March 31, 2015 and $47,000 at December 31, 2014



Inventory, net of allowance of $345,000 at March 31, 2015 and $324,000 at December 31, 2014



Current portion of deferred financing 57,000 43,000
Prepaid expenses and other current assets 103,000 85,000
Total current assets 3,107,000 3,016,000
Property, plant and equipment, net 957,000 983,000
Patents, net 67,000 65,000
Other assets 14,000 14,000
Deferred finance costs 106,000 0
Total assets $ 4,251,000 $ 4,078,000
Current liabilities
Accounts payable 423,000 410,000
Accrued expenses and other current liabilities 175,000 192,000
Wages payable 302,000 264,000
Line of credit, net 945,000 979,000
Current portion of long-term debt, net 32,000 858,000
Total current liabilities 1,877,000 2,703,000
Other liabilities 68,000 68,000
Related party note 124,000 124,000
Long-term debt 956,000 213,000
Total liabilities 3,025,000 3,108,000
Stockholders’ Equity:
Common stock 260,000 236,000
Additional paid-in capital 20,633,000 20,356,000
Accumulated deficit (19,667,000 ) (19,622,000 )
Total stockholders’ equity 1,226,000 970,000
Total liabilities and stockholders’ equity $ 4,251,000 $ 4,078,000

American Bio Medica Corporation
Melissa A. Waterhouse, (800) 227-1243, Ext 107
Chief Executive Officer