TUSTIN, Calif., Jan. 26 /PRNewswire-FirstCall/ -- AMDL, Inc. , a leading vertically integrated bio-pharmaceutical company with operations in the U.S. and China, announced today its fiscal year 2009 preliminary financial guidance and first quarter business objectives.
Fiscal Year 2008 Guidance
AMDL reaffirms its fiscal year 2008 financial guidance of gross revenues in the previously announced range of US$32 million to $36 million, which represents more than a 100% increase over the US$15 million in gross revenues in fiscal year 2007. For fiscal year 2008, AMDL estimates net income after taxes but before foreign currency translation gains of between US$900,000 and $1.3 million. Comprehensive gains after foreign currency translations are estimated to be between US$2.4 and $2.6 million, a downward adjustment that is due to the recently announced equity incentive plan and one-time adjustment for severance payments accrued for AMDL's prior CEO.
Fiscal Year 2009 Preliminary Guidance
AMDL has successfully achieved over 100% gross revenue growth for the past consecutive four years and expects to achieve a comparable gross revenue growth rate for fiscal year 2009 with estimated gross revenues of US$64 million to $72 million and net income between US$8 million and $12 million after taxes and before foreign currency translation gains or losses for its China-based operations only.
This represents an approximate 100% increase in gross revenues over the Company's fiscal year 2008 performance and does not include sales revenue projections for the AMDL ELISA DR-70(R) (FDP) cancer test or export sales for the Company's Human Placental Extract (HPE) anti-aging product line, both of which AMDL anticipates it will begin selling in the second quarter of 2009. AMDL believes anticipated revenues from these two products could potentially result in an additional US$25 million in gross revenues and plans to provide formal revenue guidance for these products in the second quarter of 2009.
To achieve its fiscal year 2009 revenue projections, AMDL will execute three key business strategies that include:
In fiscal year 2008 pharmaceutical product sales through AMDL's China-based wholly-owned subsidiary Jade Pharmaceuticals Inc. (JPI), which has sole ownership of two China-based pharmaceutical companies (Jiangxi Shangrao Kangda Pharmacy Co., Ltd. (JJB) and Yangbian Yiqiao Biochemistry Pharmacy Co., Ltd. (YYB), accounted for approximately 97% of the Company's total sales; and sales of the AMDL ELISA DR-70 (FDP) cancer test accounted for the remaining 3% of revenues. In fiscal year 2009, AMDL anticipates a shift in its revenue mix with product exports for the HPE anti-aging line and the AMDL ELISA DR-70 (FDP) cancer test combined to comprise up to 20% of total fiscal year 2009 sales, and pharmaceutical sales in China to account for the remaining 80%.
AMDL's Chairman and CEO, Douglas MacLellan, stated, "We are implementing a 2009 strategic business plan focused on three primary activities. This includes expanding product distribution and sales in China, continuing R&D on high-margin products that include HPE and the AMDL ELISA DR-70 (FDP) cancer test, and driving distribution and product sales in international markets beyond China where there is significant revenue opportunity for high-demand, high-margin products like HPE and DR-70."
Q1 2009 Business Objectives
In support of the Company's fiscal year 2009 financial projections, AMDL is focused on the following key business objectives for the first quarter of 2009:
Mr. MacLellan continued, "Guided by an aggressive business strategy and quarterly objectives¸ AMDL is in the strongest position the business has ever been in its history. With the support of our incredibly strong team, both in the U.S. and China, we have complete confidence the Company will meet, and possibly exceed, our Corporate and financial targets for 2009. We look forward to a strong year for our customers, partners, employees and shareholders."
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.
CONTACT: Kristine Szarkowitz, Director-Investor Relations of AMDL,
+1-206-310-5323, kszarkowitz@amdl.com
