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Pyng Medical Corp. (PYNGF) Achieves Record Unit Sales in Q4


10/29/2010 11:15:24 AM

VANCOUVER, BRITISH COLUMBIA--(Marketwire - October 29, 2010) - Pyng Medical Corp. (TSX VENTURE: PYT) announced today that it anticipates releasing fiscal year 2010 results in mid-December that reports record unit shipments in September, more than in any previous month in the company's history. "What's most significant is that this positive sales momentum comes from three different markets," according to Nadine Gaston, Global Vice President of Sales and Marketing. Firstly, sales for FAST1® in the US Federal market hit a new high with large purchases going into Afghanistan. Secondly, as EMS Medical Directors across the USA integrate new tourniquet protocols into their standard of care, the MAT® tourniquet was most often chosen with a resulting increase in revenues for this device. Finally, the International markets outside the United States continue the growth in a trend we've seen over the course of the fiscal year, as the Outside United States percentage of overall revenue increases. Ms. Gaston states, "It is especially encouraging to see these sales results prior to receiving 510(k) for FASTx™ Sternal which has just opened new business opportunities in the US market along with our earlier launches in Europe and Asia."

Highlights for 2010 include record units of FAST1® devices shipped in July, August and September which total more than 20,000 units. The FASTx™ received regulatory clearances in both the USA and Canada. And the CRIC™ received European CE Mark and Health Canada clearances.

About Pyng Medical Corp.

Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Pyng's expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide.

Safe Harbour Statement; Forward-Looking Statements: This release may contain forward-looking statements based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "projects", "indicates", and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents which may be filed with the British Columbia Securities Commission, the Alberta Securities Commission, the Ontario Securities Commission, the TSX Venture Exchange, as well as other USA Commissions, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw material, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales in some products.

Neither the TSX Venture Exchange nor its Regulatory Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Contacts:
Pyng Medical Corp.
Mark F. Hodge
Chief Executive Officer
1-800-349-7964 (x208)
www.pyng.com


Read at BioSpace.com


   

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