AMDL Announces Preliminary Third Quarter Earnings; Revises 2008 Guidance
November 12 2008 - 9:30AM
PR Newswire (US)
TUSTIN, Calif., Nov. 12 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), a vertically integrated pharmaceutical company with
operations in China and the US, announced today preliminary third
quarter earnings and revised 2008 guidance information. For the
third quarter of FY2008, AMDL expects gross sales to be
approximately $12.4 million and net sales after sales promotions of
approximately $9.2 million. Gross profit is expected to be
approximately $4.9 million and income from operations to be
approximately $2.3 million. The Company expected net income before
currency translation to be approximately $1.6 million. Earnings
were originally projected to be approximately $3.4 million.
However, the Company made a strategic decision to offer promotional
discounts of $3.2 million to promote new product sales in the
Chinese marketplace, primarily for the newly released formulations
of AMDL's best-selling Goodnak(R) anti-aging product line. The
existing promotional discounts will carry forward into the fourth
quarter of 2008 and the first quarter of 2009. Based upon this
information, AMDL continues to anticipate targeted gross sales of
approximately $32 to $36 million for 2008. With regards to earnings
guidance, the Company now estimates net income before foreign
currency translation to be between $1.8 and $ 2.2 million for
FY2008. "We're operating AMDL for long-term success in a period of
accelerated growth," said AMDL's Chairman and newly appointed CEO
Mr. Douglas MacLellan. "We made a strategic and conscious decision
to provide sales promotion discounts for certain new products in
the third and fourth quarters which we believe will accelerate the
introduction and market penetration. Specifically, sales promotion
discounts incurred this quarter are the result of a promotion
campaign to expand AMDL's sales footprint for newly released
formulation of our Goodnak anti-aging line -- AMDL's highest profit
margin product line. This is an investment and important part of
our marketing strategy to increase sales revenue; bolster AMDL's
competitive position in China and new markets and to drive
long-term growth for the Company & our shareholders." AMDL will
discuss its business outlook during its regular quarterly
conference call which is scheduled for the end of November.
Specific details will be announced later this month. Mr. MacLellan
continued, "With the recent adjustments made in our business --
including an expanded and strengthened senior management team and
board of directors, revised business strategy, and prioritized
focus on securing additional capital to support AMDL's future
growth -- we have embarked on the most exciting era in the
Company's history. What lies ahead is the perfect opportunity to
establish AMDL as a market-winning leader that delivers lucrative,
long-term returns for our employees, partners, customers and
shareholders." Mr. MacLellan will cover today's news in a scheduled
presentation he will deliver at Rodman & Renshaw's Annual
Global Investment Conference taking place today, November 12th,
2008 at the New York Palace Hotel in New York City. Additionally,
interested parties can download a copy of Mr. MacLellan's
presentation through the AMDL corporate website located
http://www.amdl.com/ under the "news" section. For additional
information please contact Kristine Szarkowitz, SVP, AMDL Investor
Relations at 206-310-5323 or . About AMDL: Headquartered in Tustin,
CA with operations in Shenzhen, Jiangxi, and Jilin, China, AMDL,
Inc., along with its subsidiary Jade Pharmaceutical Inc. (JPI), is
a vertically integrated bio-pharmaceutical company devoted to the
research, development, manufacturing, and marketing of diagnostic,
pharmaceutical, nutritional supplement, and cosmetic products. The
company employs over 490 people in the U.S. and China. Forward
Looking Statements: Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995: The statements contained
in this document include certain predictions and projections that
may be considered 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 related to the Company's access to additional
capital, competition and dependence on key management. AMDL
Contact: Kristine Szarkowitz Director-Investor Relations (Tel:)
206. 310.5323 DATASOURCE: AMDL, Inc. CONTACT: Kristine Szarkowitz,
Director|Investor Relations of AMDL, Inc., +1-206-310-5323,
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