AMDL Reports Fiscal 2005 Financial Results
March 31 2006 - 9:12PM
PR Newswire (US)
TUSTIN, Calif., March 31 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), developer and marketer of tests for the early detection
of cancer and other serious diseases, today reported its fiscal
2006 financial results. AMDL's revenues from its DR-70(R) test kit
for 2005 increased to $64,365 compared to $62,717 for the year
ended December 31, 2004, an increase of 2.6%. OEM revenues
decreased to $3,200 compared to $123,465 for the prior year period,
a decrease of 97%. Total product revenues for the year ended
December 31, 2005 totaled $67,565, a 67% decrease compared to
product revenues of $186,182 for the year ended December 31, 2004.
Net loss for fiscal 2005 was $2.5 million or ($0.10) per share
compared to a net loss of $2.6 million, or ($0.12) per share, for
the year ended December 31, 2004. "The Company's primary objectives
are: (i) receiving U.S. Food and Drug Administration clearance to
market its DR-70(R) test in the U.S. and (ii) closing the
acquisition from Jade Capital Group, Ltd. two China based
pharmaceutical manufacturing companies," Gary L. Dreher, CEO of
AMDL, said. Significant sales of DR-70(R) are not expected until
FDA clearance to market has been received. 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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