AMDL, Inc. Announces Third Quarter 2008 Results; Company Posts $12.4 Million in Sales With a Revenue Increase of 113%
November 17 2008 - 9:30AM
PR Newswire (US)
TUSTIN, Calif., Nov. 17 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), a leading vertically integrated bio-pharmaceutical
company with operations in China and the U.S., today reported
results and the filing of its Quarterly Report on Form 10-Q with
the Securities and Exchange Commission ("SEC") for the third
quarter ended September 30, 2008. The Company reported gross
revenues of $12.4 million -- an increase of 113% compared with $5.8
million in sales reported for the same period in 2007. Gross
profits for the third quarter ended September 30, 2008 increased to
$4.9 million compared to $3.6 million for the same period in 2007.
The Company's consolidated net income for the third quarter ended
September 30, 2008 was $1.569 million or $0.10 per share
(unaudited) compared to consolidated net income of $383,108 or
$0.03 per share for the same period in 2007. Comprehensive gains
after foreign currency translation were $1.634 million for the
third quarter ended September 30, 2008 compared to a gain of
$631,026 for the same period in 2007. "We are pleased to report
another quarter of strong revenue and net income growth. The
success of our increased sales and distribution efforts and
diversified product portfolio focusing has enabled us to achieve a
113% increase in revenues for the quarter," commented Mr. Douglas
MacLellan, CEO and Chairman, AMDL, Inc. "We are extremely pleased
with the Company's third quarter results which are right on target
with AMDL's stated guidance forecasts. AMDL's extraordinary growth
is clear evidence that we are successfully executing on a business
strategy that will deliver profitable results for our employees,
customers and shareholders, and moving ahead into the fourth
quarter we reiterate we expect AMDL's 2008 full-year revenue growth
to exceed 100%." For FY2008 AMDL has targeted net sales ranging
between $32 to $36 million -- more than a 100% increase over the
same period in 2007 where the Company achieved gross revenues of
$15 million. The Company estimates net income before foreign
currency translation to be between $1.8 and $ 2.2 million for
FY2008. AMDL will conduct a conference call with investors to
discuss its third quarter 2008 financial results and current
financial prospects on Tuesday, November 18, 2008 at 6:30 a.m.
Pacific Time (9:30 a.m. Eastern Time). Listeners may access the
call by dialing 1-877-360-1705 or 1-706-902-3245 for international
callers, access code: 12310; conference ID 74287692. To listen to
the conference call after the live presentation, or to view the
financial or other statistical information required by Securities
and Exchange Commission (SEC) Regulation G, please visit the
Investors section of the AMDL website at http://www.amdl.com/. The
conference call will be recorded and available for listening until
5:00 p.m. Pacific Time, Wednesday, November 19, 2008. 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
approximately 500 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, Web site: http://www.amdl.com/
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