2008 Sales Target to More than Double To Between $30-$38.7 Million
TUSTIN, Calif., June 23 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), http://www.amdl.com/, a world leader in specialty
pharmaceuticals headquartered in Tustin, Ca., with operations in
Shenzhen, Jiangxi, and Jilin, China, issued today financial
guidance for fiscal year ending December 31, 2008. AMDL's gross
FY2008 sales are anticipated to be between $30 million and $38.7
million with gross margins expected to range between 46% and 52%.
2007 Actual & 2008 Forecasted Results 2007 Actual Q1 Q2 Q3 Q4
Total Revenue 1,424,179 2,413,501 5,808,376 5,363,044 15,009,100
Cost of Sales (697,310) (1,262,049) (2,226,692) (2,717,357)
(6,903,408) 726,869 1,151,452 3,581,684 2,645,687 8,105,692
Research & Development (11,776) (1,351) (2,407) (13,094)
(28,628) Selling, General and Administ- rative (1,995,635)
(3,244,910) (3,090,059) (1,538,879) (9,869,483) (1,280,542)
(2,094,809) 489,218 1,093,714 (1,792,419) Other Income (Expense) 0
(2,300) (1,555) (15,001) (18,856) Interest Expense (net) (87,020)
(96,356) (85,085) (108,918) (377,379) (1,367,562) (2,193,465)
402,578 969,795 (2,188,654) Provision for Income Taxes (17,844)
(70,840) (19,470) (54,946) (163,100) (1,385,406) (2,264,305)
383,108 914,849 (2,351,754) Foreign currency 16,603 326,733 247,918
498,903 1,090,157 Comprehensive loss(Income) (1,368,803)
(1,937,572) 631,026 1,413,752 (1,261,597) 2008 Forecast Q1 Actual
Q2 Q3 Q4 Total Revenue 3,587,746 6,327,002 13,116,752 15,726,088
38,757,588 Cost of Sales (1,816,730) (2,966,757) (5,900,499)
(6,874,028)(17,558,014) 1,771,016 3,360,245 7,216,253 8,852,060
21,199,574 Research & Development (8,695) (20,000) (75,000)
(110,000) (213,695) Selling, General and Administ- rative
(2,788,321) (2,120,706) (1,898,206) (1,661,783) (8,469,016)
(1,026,000) 1,219,539 5,243,047 7,080,277 12,516,863 Other Income
(Expense) 30,089 35,000 35,000 35,000 135,089 Interest Expense
(net) (103,056) (32,800) (32,800) (32,800) (201,457) (1,098,967)
1,221,738 5,245,246 7,082,477 12,450,495 Provision for Income Taxes
(200,655) (223,071) (457,704) (543,155) (1,434,585) Net income
(loss) (1,299,622) 998,667 4,787,542 6,539,322 11,025,910 Foreign
currency 787,194 100,000 150,000 175,000 1,212,194 Comprehensive
Income (loss) (512,428) 1,098,667 4,937,542 6,714,322 12,238,104
AMDL has targeted net sales for 2008 to increase at least 100%
percent for the same period in FY2007 and anticipates they will be
in the range of $30 to $38.7 million with gross margins of 48% to
52% or $14.4 to $21.2 million. Gross revenues for FY2007 were $15
million with gross margin of $8.1 million or 54% of gross revenues.
The FY2008 R&D and SG&A expenses are expected to total
approximately $6.8 to $8.7 million, which includes stock-based
(common shares, warrants and options) compensation expenses.
R&D and SG&A expenses for FY2007 were $9.9 million. Net
income after taxes is expected to be between $9.5 and $12.2 million
including any foreign currency adjustments. According to Gary
Dreher, Chief Executive Officer of AMDL, "We are very optimistic
about the Company's near-term outlook and confident we will
continue meeting our stated business and financial targets.
Specifically, we remain focused on, at a minimum, doubling sales
annually over the next three years, thereby establishing JPI as one
of the top 10 pharmaceutical companies in China, and securing
necessary regulatory approvals to introduce other key products like
DR-70(R) and MyHPV(R) to the marketplace." Significant enhancements
in AMDL's China operations and other previously announced business
opportunities have created a financial platform for the Company to
improve its sales and earnings profile during the second half of
FY2008. This projected growth is driven by the following business
trends and initiatives: -- In FY07 AMDL signed 11 new distribution
agreements for new and existing products that include Ondansetron
Hydrochloride, Domperidone tablets, Levofloxacin injectables,
Diavitamin tablets and Goodnak injectible solutions. Historically,
the China pharmaceutical industry and JPI's business have
experienced strong sales during the 2nd, 3rd and 4th quarters, with
the Q3 and Q4 quarters experiencing the greatest gains. AMDL
anticipates sales through these distribution channels could yield
up to $54 million for FY08 with an overall increase in sales during
Q2, Q3 & Q4 FY08; -- Because of its expanded distribution
network the Company expects to increase annual gross sales in China
by at least 100%, to approximately $30 - 38 million in FY08, while
continuing to grow sales at a rate of 100% over the next 3 years;
-- In Q2/08 AMDL announced the availability of two new formulations
under the Goodnak(R) anti-aging product line. The Company expects
to begin selling these products through retail channels in Q3/08;
-- A key focus for AMDL is securing JPI as one of the top 45 China
pharmaceutical companies (ranked by sales) in 2008 and in the top
10 companies by 2010**; -- AMDL also has initiatives underway to
expand its geographic expansion into other China provinces for its
Goodnak anti-aging product line, (including the recently released
Goodnak capsule and lotion formulations which are expected to
significantly help broaden market penetration); and, -- AMDL
continues work to secure FDA and SFDA regulatory approvals for the
DR-70 cancer diagnostic test kit and MyHPV diagnostic chip kit*. *
Guidance numbers do not include revenues from DR-70 or MyHPV as the
Company is currently pursuing FDA and SFDA regulatory approvals in
the U.S. and China respectively. ** The China pharmaceutical
industry information noted above was cited from
http://www.cpi.gov.cn/ sponsored by SFDA Information Center. About
AMDL: AMDL, Inc. is a global specialty pharmaceutical company. The
Company is headquartered in Tustin, California with operations in
Shenzhen, Jiangxi, and Jilin, China. Along with its subsidiary Jade
Pharmaceutical Inc. (JPI), AMDL is devoted to the research,
development, manufacturing, and marketing of diagnostic,
pharmaceutical, nutritional supplements, and cosmetic products
currently in China. The Company employs approximately 320 people in
the U.S. and China. More information about AMDL and its products
can be obtained at http://www.amdl.com/. About Jade Pharmaceutical:
JPI has access to the fastest growing pharmaceutical and consumer
market in the world: China. AMDL, through its subsidiaries, Jade
currently manufactures large volume injection fluids, tablets and
other related products, holding licenses for 133 products. It also
manufactures 107 generic, over the counter and supplemental
pharmaceutical products under certified Chinese Good Manufacturing
Practice (CGMP) standards. Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995: The statements contained
in this Document include certain predictions and projections that
are forward-looking statements under securities law. These
statements involve a number of important risks and uncertainties
that could cause actual results to differ materially including, but
not limited to, the performance of joint venture partners, as well
as other economic, competitive and technological factors involving
the Company's operations, markets, services, products and prices.
With respect to AMDL Inc., except for the historical information
contained herein, the matters discussed in this Document are
forward-looking statements involving risks and uncertainties that
could cause actual results to differ materially from those in such
forward- looking statements. Potential risks and uncertainties
include, but are not limited to, AMDL Inc.'s operating history,
uncertainties related to the Company's access to additional
capital, competition and dependence on key management. Contact:
Kristine Szarkowitz AMDL Communications 206/310-5323 DATASOURCE:
AMDL, Inc. CONTACT: Kristine Szarkowitz of AMDL Communications,
+1-206-310-5323, Web site: http://www.amdl.com/
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