AMDL Reports 2005 Second Quarter Financial Results
August 05 2005 - 10:00PM
PR Newswire (US)
TUSTIN, Calif., Aug. 5 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), developer and marketer of tests for the early detection
of cancer and other serious diseases, reported results for the
three and six months ended June 30, 2005. AMDL's revenues from its
DR-70(R) test kit decreased to $16,550 compared to $17,639 for the
three months ended June 30, 2004, a decrease of 6.2%. The Company
had no OEM revenues for the three months ended June 30, 2005
compared to $5,877 for the prior year period, a decrease of 100%.
Total product revenues for the three months ended June 30, 2005
were $16,550, a 29.6% decrease compared to product revenues of
$23,516 for the three months ended June 30, 2004. Net loss for the
three months ended June 30, 2005 was $606,576 or ($0.03) per share
compared to a net loss of $759,484, or ($0.03) per share, for the
three months ended June 30, 2004. For the six months ended June 30,
2005, revenues from DR-70(R) test kit increased to $37,025 compared
to $29,353 for the six months ended June 30, 2004, an increase of
26.1%. OEM revenues decreased to $2,400 compared to $118,665 for
the prior year period, a decrease of 98%. The decrease reflects the
general trend away from low-carb diets to a more balanced diet, and
thus reduced demand for the Company's ketone strip product. Total
product revenues for the six months ended June 30, 2005 were
$39,425, a 73.4% decrease compared to product revenues of $148,018
for the six months ended June 30, 2004. Net loss for the six months
ended June 30, 2005 was $1,161,554 or ($0.05) per share compared to
a net loss of $1,323,740, or ($0.06) per share, for the six months
ended June 30, 2004. "The Company's primary objective remains
receiving U.S. Food and Drug Administration clearance to market its
DR-70(R) test in the U.S. FDA approval would simultaneously
increase market awareness and acceptance in international markets,"
Gary L. Dreher, CEO of AMDL, said. "Although, under FDA rules, the
Company is not permitted to market and promote DR-70(R) while the
test is undergoing the FDA submission and review process, we have
begun to increase DR-70(R) inventory and added equipment to provide
additional automation in the manufacturing process, pending receipt
of FDA clearance to market." About AMDL AMDL, Inc. (AMEX:ADL),
headquartered in Tustin, California, is a theranostics company,
involved in the detection and treatment of the same disease,
cancer. AMDL is the inventor, developer and worldwide marketer
through exclusive distribution agreements of the DR-70(R)
non-invasive cancer blood test, which has demonstrated its ability
to detect the presence in humans of up to 13 cancers 84 percent of
the time overall. In a study published in the Journal of
Immunoassay (1998, vol. 19, pp 63-72) DR-70(R) was shown to detect
at least 13 different types of cancer (lung, breast, stomach,
liver, colon, rectal, ovarian, esophageal, cervical, trophoblastic,
thyroid, malignant lymphoma, pancreatic) although the sample size
for 9 of the cancers was not statistically significant. Clinical
trials of DR-70(R) have been conducted in Canada, China, Germany,
Taiwan and Turkey. DR-70(R) can detect many kinds of cancer using a
single tube of blood, eliminating the need for costly, multiple
tests. AMDL also owns a combination immunogene therapy technology
that is a possible treatment for those already diagnosed with
cancer and could eventually be used as a vaccine to protect
patients known to be at risk because of a family history for
certain types of cancer. The combination therapy both builds the
body's immune system and destroys cancer cells. More information
about AMDL and its additional products can be obtained at
http://www.amdl.com/. Forward-Looking Statements Statements in this
press release may constitute forward-looking statements and are
subject to numerous risks and uncertainties, including the failure
to complete successfully the development of new or enhanced
products, the Company's future capital needs, the lack of market
demand for any new or enhanced products the Company may develop,
any actions by the Company's partners that may be adverse to the
Company, the success of competitive products, other economic
factors affecting the Company and its markets, and other risks
detailed from time to time in the Company's filings with the
Securities and Exchange Commission. The actual results may differ
materially from those contained in this press release. The Company
disclaims any obligation to update any statements in this press
release. Contact: AMDL, Inc. Gary L. Dreher President & CEO
(714) 505-4460 DATASOURCE: AMDL, Inc. CONTACT: Gary L. Dreher,
President & CEO of AMDL, Inc., +1-714-505-4460 Web site:
http://www.amdl.com/
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