Microtek Medical Holdings Anticipates Third Quarter 2004 Revenues of Approximately $34 Million
October 07 2004 - 10:14AM
PR Newswire (US)
Microtek Medical Holdings Anticipates Third Quarter 2004 Revenues
of Approximately $34 Million Expected quarterly revenues increase
40 percent over prior year quarter COLUMBUS, Miss., Oct. 7
/PRNewswire-FirstCall/ -- Microtek Medical Holdings, Inc.
(NASDAQ:MTMD) announced today that it expects to report net
revenues for the quarter ended September 30, 2004 of approximately
$34 million, bringing revenues for the first nine months of 2004 to
approximately $93.5 million. The anticipated net revenues for the
third quarter and first nine months of 2004 represent increases of
approximately $9.7 million, or 40 percent, and $21.3 million, or 30
percent, over the third quarter and first nine months of 2003,
respectively. The Company's recent healthcare acquisitions,
including its Plasco division which was acquired in November 2003
and the acquisition of certain businesses from International
Medical Products, B.V. ("IMP") on May 28, 2004, contributed
revenues of approximately $2.2 million and $3.4 million,
respectively, in the third quarter of 2004 and approximately $7.1
million and $4.3 million, respectively, in the first nine months of
2004. Revenues related specifically to the Company's healthcare
operations, excluding acquired revenues of Plasco and IMP, were
$25.7 million and $76.3 million for the third quarter and first
nine months of 2004, respectively. These revenues represent
increases of $2.7 million, or 12 percent, over the third quarter of
2003 and $8.4 million, or 12 percent, over the first nine months of
2003. Rounding out the Company's anticipated revenues for the third
quarter and first nine months of 2004 were revenues related to the
Company's OREX Technologies International division of $2.7 million
and $5.7 million, respectively. Of this amount, approximately $1.2
million related to the sale of certain of the Company's raw
material inventories used in the manufacture of finished goods for
sale to the nuclear industry. The sale of these raw materials was
completed as part of the Company's recently announced licensing of
its OREX nuclear technology to Eastern Technologies, Inc. in
September 2004. The Company has not yet completed its accounting
for the third quarter of 2004. The Company's expectations about
what it will report for revenues for the third quarter and first
nine months of 2004 are tentative pending the completion of such
accounting. Conference Call The Company's results of operations for
the quarter ended September 30, 2004 are scheduled to be released
on Wednesday, November 3, 2004. A conference call will be conducted
by Dan R. Lee, President and CEO, and Jerry Wilson, CFO, at 4:30
p.m. Eastern Time on November 3, 2004, and will be accessible to
the public by calling 1-877-407-9210, Reference: Microtek Medical.
International callers dial 1-201-689-8049. Callers should dial in
approximately 10 minutes before the call begins. To access the live
broadcast of the call over the Internet, log on to:
http://www.microtekmed.com/ A conference call replay will be
available through 11:59 p.m. Eastern Time on November 10, 2004 and
can be accessed by calling 1-877-660-6853 or (international)
1-201-612-7415; for both reference conference call account #1628,
Conference ID #120466. About Microtek: The Company, a market leader
in the healthcare industry, develops, manufactures and sells
infection control products, fluid control products and safety
products to healthcare professionals for use in environments such
as operating rooms and outpatient surgical centers. DATASOURCE:
Microtek Medical Holdings, Inc. CONTACT: Dan R. Lee, President
& CEO, Jerry Wilson, CFO, or John Mills, Investor Relations,
all for Microtek Medical Holdings, Inc., +1-800-476-5973, Web site:
http://www.microtekmed.com/
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