AMDL Reaffirms 2008 Guidance and Provides Additional Information
September 15 2008 - 3:19PM
PR Newswire (US)
TUSTIN, Calif., Sept. 15 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), a vertically integrated pharmaceutical company with
major operations in China and the US, announced today it is
reaffirming guidance for Q3 and FY2008. Additionally, the Company
is providing information for the benefit of stockholders in
response to the heightened activity in its common stock on the
American Stock Exchange (AMEX) in recent days. While it is the
Company's normal policy to not comment on unusual trading activity
or changes in the Company's quoted stock price or to provide
updated guidance between quarterly conference calls, the Company
has recently received numerous inquiries requesting updated
guidance in light of recent developments in general market
conditions and the China and US pharmaceutical sector. In response
to specific inquiries from stockholders, AMDL is reiterating
previously issued guidance and providing additional information as
follows: -- The Company has stated anticipated net sales of $13
million for the third quarter 2008. The Company believes it will
achieve this primarily through continued distribution and sales for
its top-selling products in China, which have shown consistent
returns for the last 8 quarters. -- The Company reaffirms it is on
track to achieve its paramount goal for 2008, which is to once
again achieve record annual earnings in 2008 with a 100% increase
in sales over 2007. For FY2008 AMDL has targeted net sales ranging
between $30 to $38.7 million with gross margins of 46% to 52% -- a
100% increase over the same period in 2007 where the Company
achieved gross revenues of $15 million with a gross margin of 54%..
-- Potential revenues for AMDL's ELISA DR-70(R) (FDP) in vitro
diagnostic (IVD) test which was approved the US FDA on July 3, 2008
for the monitoring of colorectal cancer are not included in AMDL's
2008 guidance forecast. The Company has presented DR-70 technology
to both US and International diagnostic manufacturing companies and
national reference laboratories with the goal of securing strategic
partnerships to market and sell the product globally. According to
US-based medical research group Kalorama Research, the world market
for IVD tests for cancer is growing at nearly 11% annually and
could reach nearly $8 billion by the end of 2012. (Kalorama
Research Group: 2008) Since issuance of the Company's news release
on August 1, 2008 announcing the Company's updated guidance for Q2
and FY2008, the Company has not disclosed any material new
information or altered such guidance and he Company has no known or
material reasons as to why the stock is currently trading down.
AMDL's operations are running business as usual and in-line with
its 2008 operating plan. On August 15, 2008 the Company announced
its second quarter 2008 results, stating AMDL posted $5.8 million
in sales with a revenue increase of 140%. Stockholders and other
interested parties are encouraged to view to the Company's Q2
conference call script which is available on the AMDL website
http://www.amdl.com/. According to AMDL President and CEO Gary
Dreher, "In light of the increasingly challenging financial
markets, we are successfully managing our business to plan with
product sales in China aligned to our 2008 guidance forecasts. We
view AMDL continue to view AMDL as a winning and undervalued
proposition for shareholders and will remain focused on delivering
consistent positive results to the market." The Company plans to
report third quarter earnings in November 2008 and expects to
conduct a conference call to review the quarterly results and
information at that time. A subsequent press release will be issued
announcing the date of the conference call and call-in details. For
additional information contact AMDL Investor Relations at . 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 supplement, 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. IR Contact Kristine Szarkowitz,
206.310.5323 DATASOURCE: AMDL, Inc. CONTACT: IR, Kristine
Szarkowitz of AMDL, Inc., +1-206-310-5323 Web site:
http://www.amdl.com/
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