AMDL Announces First Quarter 2008 Results Posting Sales of $3.58 Million
May 15 2008 - 11:49PM
PR Newswire (US)
- Revenues from Product Sales Increased 149% to $3.5 Million -
TUSTIN, Calif., May 15 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL) is a vertically integrated specialty pharmaceutical
company headquartered in Tustin, California, with operations in
Shenzhen, Jiangxi and Jilin China. Through its wholly owned
subsidiary Jade Pharmaceutical Inc. (JPI), the Company engages in
the research, development, manufacture, and marketing of
diagnostic, pharmaceutical, nutritional supplement, and cosmetic
products currently in the People's Republic of China. AMDL
announced today that it had sales of approximately $3.58 million
(unaudited) for the first quarter of 2008 compared to $1.4 million
for the first quarter of 2007. It should be noted that first
quarter sales are typically the lowest of the year due to Chinese
holidays, which last for several weeks, and general industry
trends. Please see AMDL's Form 10-Q for the period ended March 31,
2008 for more information. The First Quarter 2008 Financial
Highlights (unaudited) include: -- Gross Profit. AMDL gross profit
for the three months ended March 31, 2008 increased 144% to
$1,771,016, compared to $726,869 for the same period in 2007. JPI
contributed $1,769,593 to the gross profit for the three months
ended March 31, 2008, compared to $715,299 for the same period in
2007. -- Loss from Operations and Net Loss. AMDL consolidated net
loss for the three months ended March 31, 2008 was $1,472,196 or
($0.10) per share, compared to a consolidated net loss of
$1,385,406 or ($0.14) per share for the same period in 2007. Gary
Dreher, CEO of AMDL, stated that, "The continued improvements in
AMDL's China operations, combined with other recently announced
business opportunities create a financial platform for us to
improve our sales and earnings profile during the remainder of
FY2008 and beyond. This gives us greater confidence in AMDL's
continued positive financial performance over the next year."
AMDL's 2007 results as well as business improvement and
opportunities referenced above include: -- FY2007 Sales of $15
Million and Gross Profits of $8.1 million; -- In-licensed MyGene's
Human Papilloma Virus (HPV) Diagnostic Test; -- Signed LOI for the
purchase of a China based pharmaceutical distribution company with
$28.55 million in revenue, approximately 10% NOI and 20-30% growth
rate; -- Signed MOU with Hau Du Beauty Co., Ltd for its 200 stores
to distribute Jade's Goodnak Product Line; -- AMDL launched a new
updated website at http://www.amdl.com/. About AMDL: More
information about AMDL and its products can be obtained at
http://www.amdl.com/. AMDL, together with Jade, engages in the
development, manufacture and marketing of proprietary
pharmaceutical and diagnostic products. About Jade Pharmaceuticals
Inc.: JPI has access to the fastest growing pharmaceutical and
consumer market in the world: China. AMDL, through its Jade
subsidiaries, currently holds licenses for 133 products that are
manufactured as large volume injection fluids, tablets and other
related products. It currently manufactures over 20 key generic,
over-the-counter and supplemental pharmaceutical products under
certified Chinese Good Manufacturing Practice (CGMP) standards.
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. Mr. Paul Knopick AMDL Investor Relations Direct
Line: 949.707.5365 Voice Mail: 714.505.4460 DATASOURCE: AMDL, Inc.
CONTACT: Mr. Paul Knopick, Investor Relations, +1-949-707-5365,
voice mail, +1-714-505-4460, for AMDL, Inc.
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