8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  May 8, 2012 (May 8, 2012)

CHEMBIO DIAGNOSTICS, INC.

(Exact name of registrant as specified in its charter)

Nevada	0-30379	88-0425691
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of Incorporation)		Identification Number)
	3661 Horseblock Road
	Medford, NY 11763
	(Address of principal executive offices)
	631-924-1135
	(Registrant’s Telephone Number)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01.                                  REGULATION FD DISCLOSURE.

On May 8, 2012, the Company issued a press release entitled “Chembio Diagnostics Reports First Quarter 2012 Financial Results ”.   A copy of the press release is furnished herewith as Exhibit 99.1.

On May 8, 2012, the Company posted a PowerPoint Presentation to their website entitled “Investor Presentation May 2012.”  A copy of the presentation is furnished herewith as Exhibit 99.2.

In addition, also on May 8, 2012, the Company posted an Investor Fact Sheet to their website.  A copy of the fact sheet is furnished herewith as Exhibit 99.3

The information in this Item 7.01 of this Form 8-K is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. The information in this Item 7.01 of this Form 8-K also shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, except to the extent that the Company specifically incorporates it by reference.

ITEM 9.01.                      FINANCIAL STATEMENTS AND EXHIBITS

Exhibits.

99.1	Press Release entitled “Chembio Diagnostics Reports First Quarter 2012 Financial Results” dated May 8, 2012.
99.2	Presentation entitled “Investor Presentation May 2011” dated May 8, 2012.
99.3	Investor Fact Sheet posted to the company website dated May 8, 2012.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

May 8, 2011                                                                                    Chembio Diagnostics, Inc.

By:    /s/ Lawrence A. Siebert                                      

Lawrence A. Siebert

Chief Executive Officer

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press Release entitled “Chembio Diagnostics Reports First Quarter 2012 Financial Results” dated May 8, 2012.
99.2	Presentation entitled “Investor Presentation May 2012” dated May 8, 2012.
99.3	Investor Fact Sheet posted to the company website dated May 8, 2012.

EX-99.1

Chembio Diagnostics Reports First Quarter 2012 Financial Results

Record Product Sales More Than Double Over Prior Year

Conference Call Begins at 10:00 a.m. Eastern Time Today

MEDFORD, N.Y (May 8, 2012) – Chembio Diagnostics, Inc. (OTCQB:CEMI.PK) (Pinksheets: CEMI.PK), a leader in point-of-care diagnostic tests for infectious diseases, today reported financial results for the three months ended March 31, 2012.

Financial highlights for the first quarter of 2012 include the following (all comparisons are with the first quarter of 2011):

·   Total revenues of $6.65 million, up 83% compared with $3.64 million

·   Product sales of $6.36 million, up 111% compared with $3.02 million

·   Operating income of $720,000, compared with an operating loss of $139,000

·   Net income of $433,000 or $0.01 per diluted share, compared with a net loss of $142,000 or $0.00 per diluted share

Commenting on the Company’s strong quarterly performance, Lawrence Siebert, Chembio’s Chief Executive Officer, said, “2012 has gotten off to a very strong start with record product sales more than doubling compared with the prior year.  These gains were led by increased purchase orders from the Oswaldo Cruz Foundation (FIOCRUZ), our license and technology transfer partner in Brazil, and from continued strong demand for our rapid HIV tests in the U.S.  We remain confident about the financial outlook for 2012, which we believe will include record revenues and operating income.

“We were pleased to complete enrollment in our 3,000-patient clinical trial for our DPP® HIV 1/2 Assay in mid-April.  This important and versatile product is a rapid point-of-care test for the detection of antibodies to HIV 1 and 2 in oral fluid, finger-stick whole blood, venous whole blood, serum or plasma.   The test provides a simple ‘reactive/non-reactive’ result intended to be used in the preliminary diagnosis of patients with HIV in point-of-care settings such as public health and other clinics, hospital emergency rooms and physician offices. We have previously filed the first two modules of our Pre-Marketing Approval (PMA) application with the U.S. Food and Drug Administration (FDA) and expect to file the third and final module by the end of the second quarter.  We have confidence that this product will meet the required performance on all sample matrices.

“With more than 1.1 million Americans estimated to be living with HIV and approximately 20% of them unaware they are infected with the virus, rapid HIV tests are playing a critical role in the U.S., as they have globally, to help identify those with HIV and to prevent disease transmission.  Pending FDA approval, our DPP HIV 1/2 assay test, with its ability to test oral fluids, should provide a significant market opportunity for Chembio in the coming years and gives us an opportunity to brand our DPP product line in the U.S.

“We look forward to continued growth of our DPP product line in Brazil by FIOCRUZ and expect this collaboration to drive revenue growth throughout 2012,” concluded Mr. Siebert.

First Quarter Results

Total revenues for the first quarter of 2012 were $6.65 million, up 83% compared with total revenues of $3.64 million for the first quarter of 2011.  Product sales increased 111% to $6.36 million from $3.02 million in the prior-year period, and exceeded product sales for the first six months of 2011 by $374,000. Research and development (R&D), milestone, grant and royalty revenues for the first quarter of 2012 decreased to $290,000 from $621,000 in the same period of 2011.

Gross profit increased 73% to $3.3 million in the 2012 first quarter compared with $1.93 million in the 2011 first quarter due to higher product revenue and changes in product mix, partially offset by lower R&D,  licensing and royalty revenues.   Product gross profit for the first quarter of 2012 increased 133% to $3.04 million, compared with $1.31 million for the comparable period in 2011.

R&D expenses were $1.38 million in the first quarter of 2012 and $1.29 million in the prior year.  The 2012 first quarter included $191,000 of clinical trial expenses which were incurred in 2011 and were not invoiced until April of 2012.

For the three months ended March 31, 2012, selling, general and administrative expenses increased to $1.23 million from $775,000 in the prior year, largely due to higher commissions on DPP product sales to Brazil, as well as to higher wages and stock-based compensation.

Operating income for the first quarter of 2012 was $720,000, compared with an operating loss of $139,000 for the first quarter of 2011.

Net income for the first quarter of 2012 was $433,000 or $0.01 per diluted share, compared with a net loss of $142,000 or $0.00 per share for the comparable period in 2011.  The 2012 first quarter net income included $285,000 in income tax provision,  which reflects approximately the amount of income taxes that would be attributable to the Company’s profit for the quarter if the Company did not have an operating loss carryforward to offset income taxes payable.

Balance Sheet Highlights

The Company had cash of $2.95 million as of March 31, 2012, compared with $3.01 million as of December 31, 2011.

Conference Call

Chembio has scheduled a conference call and webcast for 10:00 a.m. Eastern time today.  To participate on the call, please dial (877) 407-0778 from the U.S. or (201) 689-8565 from outside the U.S.  In addition, following the completion of the call, a telephone replay will be accessible until March 15, 2012 at 11:59 p.m. Eastern time by dialing (877) 660-6853 from the U.S. or (201) 612-7415 from outside the U.S. and entering reservation account number 286 and conference ID #: 393134.  The conference call may also be accessed via the internet at http://www.investorcalendar.com/IC/CEPage.asp?ID=167559.  An archive of the webcast will be available for 90 days on the Company's website at www.chembio.com.

About Chembio Diagnostics

Chembio Diagnostics, Inc. develops, manufactures, licenses and markets proprietary rapid diagnostic tests in the growing point-of-care testing market. Chembio's two FDA PMA-approved, CLIA-waived, rapid HIV tests are marketed in the U.S. by Alere North America, Inc.  Chembio markets its HIV STAT-PAK® line of rapid HIV tests internationally to government and donor-funded programs directly and through distributors.  Chembio has developed a patented point-of-care test platform technology, the Dual Path Platform (DPP®) technology, which has significant advantages over lateral-flow technologies. This technology is providing Chembio with a significant pipeline of business opportunities for the development and manufacture of new products based on DPP®. Headquartered in Medford, NY, with approximately 160 employees, Chembio is licensed by the U.S. Food and Drug Administration (FDA) as well as the U. S. Department of Agriculture (USDA), and is certified for the global market under the International Standards Organization (ISO) directive 13.485. For more information, please visit: www.chembio.com.

Forward-Looking Statements

Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended.  Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management.  Such statements are estimates only, as the Company has not completed the preparation of its financial statements for those periods, nor has its auditor completed a review or audit of those results.  Actual revenue may differ materially from those anticipated in this press release.  Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties.  Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Chembio's ability to obtain additional financing, to obtain regulatory approvals in a timely manner and the demand for Chembio's products.  Chembio undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Chembio's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.  Factors that may impact Chembio's success are more fully disclosed in Chembio's most recent public filings with the U.S. Securities and Exchange Commission.

Contacts:

Chembio Diagnostics

Susan Norcott

(631) 924-1135, ext. 125

snorcott@chembio.com

LHA

Anne Marie Fields

(212) 838-3777

AFields@lhai.com

@LHA_IR_PR

(Tables to follow)

Chembio Diagnostics, Inc. & Subsidiary
Summary of Condensed Consoldidated Results of Operations
	For the three months ended
	March 31, 2012		March 31, 2011
Net product sales	$	6,363,152	$	3,015,063
License and royalty revenue		-		28,854
R&D, milestone and grant revenue		290,100		591,764
TOTAL REVENUES	$	6,653,252	$	3,635,681
GROSS MARGIN	$	3,332,864	$	1,926,342
Research and development expenses	$	1,379,131	$	1,290,142
Selling, general and administrative expenses	$	1,233,968	$	775,371
INCOME (LOSS) FROM OPERATIONS	$	719,765	$	(139,171	)
Income tax provision	$	285,400	$	-
NET INCOME (LOSS)	$	433,443	$	(142,297	)
Basic net income per share	$	0.01	$	(0.00	)
Diluted net income per share	$	0.01	$	(0.00	)
Weighted average number of shares outstanding, basic		63,474,580		62,284,772
Weighted average number of shares outstanding, diluted		68,098,858		62,284,772

Chembio Diagnostics, Inc. & Subsidiary
Summary of Condensed Consolidated Balance Sheets
	March 31, 2012		December 31, 2011
CURRENT ASSETS:
Cash and cash equivalents	$	2,954,276	$	3,010,954
Accounts receivable, net of allowance for doubtful accounts of $125,000 and $30,000 for 2012 and 2011, respectively		3,616,720		2,998,449
Inventories		2,706,676		2,300,286
Prepaid expenses and other current assets		755,082		681,893
TOTAL CURRENT ASSETS		10,032,754		8,991,582
FIXED ASSETS, net of accumulated depreciation		1,118,989		1,062,276
OTHER ASSETS
Deferred tax asset, net of valuation allowance		4,492,763		4,749,622
License agreements and other assets		715,290		682,264
	$	16,359,796	$	15,485,744
TOTAL CURRENT LIABILITIES	$	3,133,399	$	2,857,626
TOTAL OTHER LIABILITIES		120,937		133,484
TOTAL LIABILITIES		3,254,336		2,991,110
TOTAL STOCKHOLDERS’ EQUITY		13,105,460		12,494,634
	$	16,359,796	$	15,485,744

Chembio Diagnostics, Inc. & Subsidiary
Summary of Condensed Consolidated Cash Flow
	For the three months ended
	March 31, 2012			March 31, 2011
Net cash provided by operating activities	$	149,226		$	1,560,142
Net cash used in investing activities		(223,716	)		(46,358	)
Net cash provided by (used in) financing activities		17,812			(853,032	)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	$	(56,678	)	$	660,752

#   #   #

EX-99.2

RAPID Tests for EARLIER Treatment

Investor Presentation

Slide 2

Forward Looking Statements

Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended.  Those statements include statements regarding the intent, belief or current expectations of Chembio and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, Chembio’s ability to obtain additional financing and the demand for Chembio's products.  Chembio undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Chembio's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact Chembio's success are more fully disclosed in Chembio's most recent public filings with the U.S. Securities and Exchange Commission

Slide 3

Investment Highlights

•   Develops, Manufactures & Markets Point-of-Care Diagnostic Tests

•   Robust pipeline of POC diagnostics for infectious diseases based on lateral flow and proprietary DPP® platforms.

•   Record Revenues and Income in 2009-2011 and 2012YTD

•   Participating in $10 billion POC test market

•   Partnered with leading license and distribution partners in U.S. and South America

•   Multiple opportunities for additional products & strategic partnerships

•   Seasoned management team with relevant industry and financial experience

Slide 4

Financial Summary - FY2009-2011 Results

•   Product Revenue Growth of 40.8% over period to $17.4MM in 2011

•   Gross Margin Growth of 60% over period to $9.4MM in 2011

•   Non-Recurring Items Included in Net Income

‐   $1.5MM QTDP grant in 2010 credited to R&D expense

‐   $.3MM 2010 Expense related to possible strategic transaction

‐   2011 – Recognition of deferred tax asset valuation allowance of $5.1MM

See Graphic

Slide 5

Three Months Ended March 31, 2011 & 2012 Selected Financial Results

See Graphic

Slide 6

Our Business Strategy

·   ESTABLISH Chembio-DPP® Brand Serving Public Health & Related POCT Market Opportunities

·   CONTINUE to Increase Revenue and Profitability Growth to Drive Shareholder Value

·   COLLABORATE to Address New Market Opportunities by Leveraging our IP, Core Development and Manufacturing Competencies

Slide 7

POCT’s – A Growing Global Market

Converting Lab Tests to POC and Creating New Markets

‐   Rapid HIV Test Markets

•   $200MM Global

•   Chembio  Products  in U.S. & Global Markets

•   Potential HIV OTC (Self-testing) Market  Estimated at >$250MM

‐   Other Current  & Potential

U.S. or Global POCT Markets

•   Syphilis POCT Market

–   Estimated $75MM

–   DPP® Syphilis Screen & Confirm Tests in EU and Brazil; U.S. Clinical Studies

•   HIV/Syphilis Multiplex

•   Hepatitis-C POCT Market

–   Estimated at >$250MM

–   R&D

•   Veterinary POCT

–   Current $100MM

–   R&D

See Graphic

Slide 8

FDA-Approved Lateral Flow HIV Tests Sold Globally

Essential Tool in Prevention Efforts Globally

‐   50,000 new cases of HIV annually still in U.S.

‐   Estimated that >20% of HIV-positive individuals in U.S. unaware of their status

Marketed Exclusively in U.S. Professional Market by Alere, Inc. (NYSE: ALR)

‐   Chembio’s U.S. market sales (to Alere) increased by 36.5% in 2011 to $7.2MM

‐   Estimated 20% U.S. market share

‐   Sold through distribution ex-U.S.

Pre-IDE Studies Ongoing for OTC “Barrel” HIV Test

See Graphics

Slide 9

Product Portfolio At a Glance Chembio Patented Dual Path Platform Technology

See Chart

Slide 10

FDA Approved Lateral Flow HIV Tests Sold Globally

•   Essential Tool in Prevention Efforts Globally

‐   50,000 New Cases of HIV Annually Still in U.S.

‐   Estimated that >20% of HIV-Positive Individuals in U.S. unaware of their status

•   Marketed Exclusively in U.S. Professional Market by Alere, Inc. (NYSE: ALR)

‐   Chembio’s U.S. Market Sales (to Alere) Increased by 36.5% in 2011 to $7.2MM

‐   Sold Through Distribution Ex-U.S.

•   Pre-IDE Studies Ongoing   for OTC “Barrel” HIV Test

See Graphics

Slide 11

Chembio Patented Technology: Dual Path Platform (DPP®)

A Patented Platform Technology with a Multitude of Potential Diagnostic Applications

Improves Performance (Sensitivity and Specificity)

‐   Features Independent Sample Path and Direct Binding

‐   Enables Improved Multiplex Products

MULTIPLEX  DPP® HIV Confirmatory Test Launched in Brazil

Foundational DPP Patent issued in U.S.; Additional patents issued or pending in U.S. & many foreign jurisdictions

See Graphics

Slide 12

OEM Collaboration with Brazil’s Oswaldo Cruz Foundation (FIOCRUZ) for DPP® - 5 Products Approved 2010-2011

•   Five Contracts with Aggregate $23MM of Minimum Purchases, All Products Approved in Brazil 2010-11

•   $4.3MM Revenues in 2011 >$9MM Anticipated in 2012

•   Possible New Products and Collaborations with FIOCRUZ  & Others in Brazil

See Graphic

Slide 13

Branded Product : DPP® HIV Screening Assay For Use with Oral Fluid or Blood Samples

•   Clinical Trials Being Completed

•   Anticipated FDA PMA Approval in 2012

•   Market Launch 2013

•   Improved Performance & Unique Features

See Graphic

Slide 14

U.S. Rapid HIV Test Market* - Solid Growth Since 2006 with New CDC Testing Recommendations

	Complete (U.S.)  Sure Check®,(Intl)	HIV 1/2 STAT-PAK®	DPP® HIV  Screen	OraQuick® Advance	Uni-Gold®
Manufacturer	Chembio Medford, NY	Chembio Medford, NY	Chembio Medford, NY	Orasure  Bethlehem, PA	Trinity Biotech, Dublin Ireland
FDA Approval Date	2006	2006	Clinical trials 98% Completed	2003	2003
Technology	Lateral Flow &  Unitized Barrel  Device	Lateral Flow	DPP® Technology  & Closed Sample  Vial System	Lateral Flow	Lateral Flow
Est. US Market Shr.	8%	12%	N/A	65%	15%
Sample Types	All Blood Matrices	All Blood Matrices	Oral Fluid  & All Blood Matrices	Oral Fluid, Whole Blood, Plasma; not  serum	All Blood Matrices
True IgG Control	Yes	Yes	Yes	Yes	No
Sample Size (in microliters)	2.5	5	5	5	40
HIV-2	Yes	Yes	Yes	Yes	No

Slide 15

Branded Product: DPP® Syphilis Screen & Confirm

•   First Dual POCT for Syphilis Enables Confirmation & Treatment At POC

•   CE Marked October 2011, International Distribution being Established

•   US 510(K) Clinical Trials 2012

Developed in collaboration with the U.S. Centers for Disease Control

See Graphic

Slide 16

Three Months Ended  March 31, 2012 & 2011, Years Ended Dec. 2011 & 2010

Selected Financial Results

in (000's)	3 Mo. Mar. 31, 2012		3 Mo. Mar. 31, 2011		Y/E Dec. 31, 2011		Y/E Dec. 31, 2010
Net Product Revenues	$            6,363		$            3,015		$         17,422		$         13,516
Non-Product Revenues	290		621		1,966		3,188
TOTAL REVENUES	$          6,653		$          3,636		$        19,388		$        16,705
GROSS MARGIN	3,333	50%	1,926	53%	9,390	48%	8,101	48%
OPERATING COSTS:
Research and development expenses	1,379	12%	1,290	35%	4,878	25%	2,586	15%
Selling, general and administrative expense	1,234	19%	775	21%	3,424	18%	2,941	18%
	2,613		2,065		8,302		5,527
INCOME FROM OPERATIONS	720		(139)		1,088		2,574
OTHER INCOME (EXPENSES):	(1)		(3)		(12)		(15)
NET INCOME-Before Taxes	719	11%	(142)	-4%	1,076	6%	2,559	15%
Income tax (benefit) provision	285		-		(5,133)		46
NET INCOME	433	7%	(142)	-4%	6,209	32%	2,513	15%

Slide 17

CEMI Selected Share & Balance Sheet Data

(in millions except per share and daily volume data)

Ticker Symbol (OTC-QB)	CEMI
Price 2/22/12	$0.490
52-Week High	$0.570
52-Week Low	$0.210
Outstanding Shares	63.9
Market Capitalization	$31.3
Fully Diluted Shares	69.7
Management Holding	12.5
Average Daily Volume (3 months)	32,500

($ in millions)	Mar’12	Dec'11	Dec. '10
Cash	$   2,954	$     3,011	$    2,136
Total Current Assets	10,033	8,992	7,637
Total Assets	$16,360	$   15,486	$    9,086
Total Current Liabilities	3,133	2,858	3,076
Total Liabilities	3,254	2,991	3,277
Total Equity	13,106	12,495	5,809
Total Liabilities & Stockholders’ Equity	$16,360	$   15,486	$    9,086

Options	Amt.	Avg. Ex. Price
4.31MM held by Mgmt. & Board	5.82MM	$0.229

Slide 18

Anticipated Milestones 2012-13

Product Revenues  & Operating Results

•   Full Year of New Products Launched in Brazil through FIOCRUZ

•   Launch of DPP® HIV & Syphilis Tests in Global & US Markets

•   Increased Lateral Flow HIV Test Sales in U.S. & Global Markets

Potential New Products & Marketing Collaborations

•   Developments Related to Potential New Branded and/or OEM Products & Related Strategic Collaborations

Clinical & Regulatory Programs for Branded Products

•   DPP® HIV Oral Fluid Test

‐   Completion of Clinical Trials

‐   Submit Module III for DPP®HIV PMA Approval

‐   CLIA waiver, Product Launch

‐   Potential OTC FDA Submission Activities

•   Syphilis Screen & Confirm

‐   Completion of Clinical Trials

‐   Submit to FDA for 510(K) Clearance for Product Launch

•   HIV OTC

‐   Potential  OTC FDA Submission Activities for Sure Check® HIV @ DPP® HIV

Slide 19

Organization & Facility

•   FDA & USDA- Approved Development & Manufacturing Facility

•    28,000 Sq. Ft. Leased Facility in Medford, NY

Total Employment: Approx. 170

Reg. & Clinical QA &QC	15
SG&A	11
Research & Development	29
Operations	116

Slide 20

Leadership

Executive                                                                                 Joined Company:

Lawrence Siebert	Chairman & CEO	2002
Richard Larkin	CFO	2003
Javan Esfandiari	SVP R&D	2000
Tom Ippolito	VP Regulatory, Clinical, QA/QC	2005
Rick Bruce	VP Operations	2000

Independent Directors                                                                                                      Joined Board:

Katherine Davis, MBA	2007
Barbara DeBuono, MD, MPH	2011
Peter Kissinger, Ph.D	2011
Gary Meller, MD, MBA	2005

Slide 21

Investment Highlights

•   Robust pipeline of POC diagnostics for infectious diseases based on lateral flow and proprietary DPP® platforms.

•   2011 product revenues increased by 29%.

Three consecutive years of profitability

•   $7 billion POC test market the fastest growing segment of $40 billion dollar in-vitro diagnostic market

•   Key license and distribution partners in U.S. and South America driving revenue growth and multiple opportunities for additional strategic partnerships

•   Seasoned management team with relevant industry and financial experience

Slide 22

Chembio Diagnostics, Inc.

RAPID tests for EARLIER treatments

Thank You

Additional Slides

Slide 21

Comparative Selected Operating Results 2006-2011

(in 000s)	2011		2010		2009		2008		2007		2006
REVENUES:
Net Product sales	$           17,422		13,516		12,372		10,356		8,765		6,294
Non-product revenues	1,966		3,189		1,462		694		466		208
TOTAL REVENUES	19,388		$     16,705		$     13,834		$     11,050		$     9,231		$    6,502
Cost of sales	9,998		8,604		7,974		7,198		6,435		4,894
GROSS MARGIN	9,390	48%	8,101	48%	5,860	42%	3,852	35%	2,796	30%	1,608	25%
OVERHEAD COSTS:
Research and development expenses	4,878	25%	2,586	15%	2,884	21%	2,606	24%	1,907	21%	1,401	22%
Selling, general and administrative expenses	3,424	18%	2,941	18%	2,659	19%	3,317	30%	3,765	41%	4,787	74%
	8,302		5,527		5,543		5,923		5,672		6,188
INCOME (LOSS) FROM OPERATIONS	1,088		2,574		317		(2,071)		(2,876)		(4,580)
OTHER INCOME (EXPENSES):
Other income (expense)	-		(4)		(7)		96		121		(57)
Interest income	6		4		9		34		145		29
Interest expense	(19)		(15)		(10)		(8)		(17)		(387)
	(13)		(15)		(8)		122		249		(415)
NET INCOME (LOSS) BEFORE INCOME TAXES	1,075		2,559		309		(1,949)		(2,627)		(4,995)
Income tax (benefit) provision	(5,133)		46		-		-		-		-
NET INCOME (LOSS)	6,208	32%	2,513	15%	309	2%	(1,949)	-18%	(2,627)	-28%	(4,995)	-77%
Pref. Divid. '06/07, beneficial conversion feature in 2006 and effect of conversion in 2007	-		-		-		-		5,645		3,210
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	$             6,208		$       2,513		$          309		$      (1,949)	-18%	$      (8,272)	-90%	$      (8,205)	-126%
Basic income (loss) per share	$               0.10		$         0.04		$         0.00		$        (0.03)		$        (0.57)		$        (0.80)
Diluted income (loss) per share	$               0.09		$         0.04		$         0.00		$        (0.03)		$        (0.57)		$        (0.80)
Weighted average number of shares outstanding, basic	62,998		62,103		61,946		61,267		14,608		10,293
Weighted average number of shares outstanding, diluted	68,450		70,921		75,042		61,267		14,608		10,293

Slide 24

Revenue Growth by Category: 2009-2011

See Charts

Slide 25

Potential Impact of OEM & Branded Products on Revenue*

See Graphic

May 2012

EX-99.3