AMDL Announces Financial Results for Third Quarter of 2006; Jade Pharmaceutical Revenues Top $5 Million in First Nine Months
November 14 2006 - 5:46PM
PR Newswire (US)
TUSTIN, Calif., Nov. 14 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), announced today that sales for its wholly owned
subsidiary, Jade Pharmaceutical Inc., totaled $1.98 million for the
third quarter ended September 30, 2006 and $5.07 million for the
first nine months of 2006. The sales are not included in AMDL's
third quarter consolidated finance statement because the
acquisition did not close until the end of September 2006. Jade
Pharmaceutical's net income for the three and nine months ended
September 30, 2006 was $791,929 and $1.62 million, respectively.
Results of its operations will be included in the combined
consolidated financial statements beginning in the fourth quarter
of 2006. AMDL announced sales of its DR-70(R) cancer test kit
totaled $54,105 for the first nine months of 2006. The Company
announced a net loss of $962,337, or 13 cents per share, for the
third quarter of 2006 and a net loss of $2.57 million, or 38 cents
per share, for the first nine months of 2006. "AMDL continues to
focus on receiving U.S. Food and Drug Administration clearance to
market our DR-70(R) cancer test in the United States which will
also strengthen our position in overseas markets. We are also very
pleased by the continued outstanding growth at Jade
Pharmaceutical," said Gary Dreher, AMDL CEO. JPI sells prescription
pharmaceutical products and over-the-counter products in China
including injectables, capsules, tablets, liquids and medicated
skin products. About AMDL: AMDL, Inc. (AMEX:ADL), headquartered in
Tustin, California, with operations in Shenzhen, Jaingxi and Jilin
China through its wholly owned subsidiary Jade Pharmaceutical Inc.,
is an international biopharma company. AMDL together with Jade
engages in the development, manufacture and marketing of
proprietary pharmaceutical and testing products. More information
about AMDL and its products can be obtained at
http://www.amdl.com/. Forward-Looking Statements: This news release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
are subject to certain risks and uncertainties, and actual
circumstances, events or results may differ materially from those
projected in such forward-looking statements. The Company cautions
readers not to place undue reliance on any forward-looking
statements. The Company does not undertake, and specifically
disclaims any obligation, to update or revise such statements to
reflect new circumstances or unanticipated events as they occur.
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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