Rockwell Medical Technologies, Inc. Secures $6.5 Million In Business
WIXOM, Mich., April 13 /PRNewswire-FirstCall/ -- Rockwell Medical Technologies, Inc. , a leading, innovative dialysis products manufacturer serving the healthcare industry reported today that it has secured $6,500,000 in business with a new customer. The Company fulfilled approximately $600,000 of the business during the first quarter of 2005 and has since secured the purchase order for the entire $6,500,000 worth of business. The Company anticipates fulfilling the majority of the purchase order during the second quarter of 2005.
Mr. Robert L. Chioini, Chairman, CEO and President of Rockwell stated, "We expect this order to be favorable to our sales in the second quarter and we are currently working to secure more of this business on an ongoing basis."
Earlier this year, Rockwell reported that it had secured multiple supply contracts aggregating $2,500,000 in the Southeast region. Rockwell subsequently announced a new facility in the Southeast which commenced production and distribution operations during March of this year. Rockwell reported revenue growth of 20% in 2004 with sales of $18,000,000.
Rockwell Medical Technologies, Inc. is an innovative leader in manufacturing, marketing and delivering high-quality dialysis solutions, powders and ancillary products that improve the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased approximately 6% on average each year over the last decade. Rockwell's products are used to cleanse the ESRD patient's blood and replace nutrients in the bloodstream. Rockwell offers the proprietary Dri-Sate(R) Dry Acid Mixing System, RenalPure(TM) Liquid Acid, SteriLyte(TM) Liquid Bicarbonate, RenalPure(R) Powder Bicarbonate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items. Visit Rockwell's website at http://www.rockwellmed.com/ for more information.
Certain statements in this press release with respect to Rockwell's anticipated sales revenue constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, any breach of a contract by a major customer, competitive factors and other factors discussed in Rockwell's reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.
Rockwell Medical Technologies, Inc.CONTACT: Thomas Klema, +1-248-960-9009, for Rockwell MedicalTechnologies, Inc.
Web site: http://rockwellmed.com/