- Revenues from Product Sales Increased 149% to $3.5 Million - - Gross Profit Up; Net Loss Down -
TUSTIN, Calif., May 15 /PRNewswire-FirstCall/ -- AMDL, Inc. (Amex: ADL) is
a vertically integrated specialty pharmaceutical company headquartered in
Tustin, California, with operations in Shenzhen, Jiangxi and Jilin China.
Through its wholly owned subsidiary Jade Pharmaceutical Inc. (JPI), the
Company engages in the research, development, manufacture, and marketing of
diagnostic, pharmaceutical, nutritional supplement, and cosmetic products
currently in the People's Republic of China. AMDL announced today that it had
sales of approximately $3.58 million (unaudited) for the first quarter of 2008
compared to $1.4 million for the first quarter of 2007. It should be noted
that first quarter sales are typically the lowest of the year due to Chinese
holidays, which last for several weeks, and general industry trends. Please
see AMDL's Form 10-Q for the period ended March 31, 2008 for more information.
The First Quarter 2008 Financial Highlights (unaudited) include:
-- Gross Profit. AMDL gross profit for the three months ended March 31,
2008 increased 144% to $1,771,016, compared to $726,869 for the same
period in 2007. JPI contributed $1,769,593 to the gross profit for
the three months ended March 31, 2008, compared to $715,299 for the
same period in 2007.
-- Loss from Operations and Net Loss. AMDL consolidated net loss for the
three months ended March 31, 2008 was $1,472,196 or ($0.10) per share,
compared to a consolidated net loss of $1,385,406 or ($0.14) per share
for the same period in 2007.
Gary Dreher, CEO of AMDL, stated that, "The continued improvements in
AMDL's China operations, combined with other recently announced business
opportunities create a financial platform for us to improve our sales and
earnings profile during the remainder of FY2008 and beyond. This gives us
greater confidence in AMDL's continued positive financial performance over the
next year." AMDL's 2007 results as well as business improvement and
opportunities referenced above include:
-- FY2007 Sales of $15 Million and Gross Profits of $8.1 million;
-- In-licensed MyGene's Human Papilloma Virus (HPV) Diagnostic Test;
-- Signed LOI for the purchase of a China based pharmaceutical
distribution company with $28.55 million in revenue, approximately 10%
NOI and 20-30% growth rate;
-- Signed MOU with Hau Du Beauty Co., Ltd for its 200 stores to
distribute Jade's Goodnak Product Line;
-- AMDL launched a new updated website at http://www.amdl.com.
About AMDL: More information about AMDL and its products can be obtained
at http://www.amdl.com. AMDL, together with Jade, engages in the development,
manufacture and marketing of proprietary pharmaceutical and diagnostic
products.
About Jade Pharmaceuticals Inc.: JPI has access to the fastest growing
pharmaceutical and consumer market in the world: China. AMDL, through its Jade
subsidiaries, currently holds licenses for 133 products that are manufactured
as large volume injection fluids, tablets and other related products. It
currently manufactures over 20 key generic, over-the-counter and supplemental
pharmaceutical products under certified Chinese Good Manufacturing Practice
(CGMP) standards.
Forward-looking Statements: This news release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements are subject to certain risks and uncertainties, and
actual circumstances, events or results may differ materially from those
projected in such forward-looking statements. The Company cautions readers not
to place undue reliance on any forward-looking statements. The Company does
not undertake, and specifically disclaims any obligation, to update or revise
such statements to reflect new circumstances or unanticipated events as they
occur.
Contact: AMDL, Inc.
Mr. Paul Knopick
AMDL Investor Relations
Direct Line: 949.707.5365
Voice Mail: 714.505.4460
SOURCE AMDL, Inc.
