DENVER, Sept. 25 /PRNewswire-FirstCall/ -- Corgenix Medical Corporation , a worldwide developer and marketer of diagnostic test kits, today filed its fiscal year Form 10-K and reported financial results. The report disclosed that the company's operating results have advanced for the fiscal year ended June 30, 2009. Some of the results highlighted by the report are as follows:
"While we were pleased with the improvement in operating income, net income and EBITDA this year due to our aggressive expense control program and the improvement in cost of goods, we were obviously disappointed with the decline in revenue," said Douglass Simpson, President and CEO of Corgenix. "In addition to the reduction of revenues from our contract manufacturing sector as previously reported, much of this was due to the impact of the overall global economy on our customers around the world as they tightened their expenditures and reduced their inventories."
Mr. Simpson continued, "On the positive side, we will continue with our own belt-tightening as we move into the new fiscal year, and with the planned reduction in interest charges, will continue on the path to sustained profitability."
The Company also indicated that it expects sales for fiscal 2010 to renew its previous growth trend.
Fiscal 2009 Conference Call Details
Corgenix invites all those interested in hearing management's discussion of fiscal year results to join a shareholders conference call on Friday, September 25, 2009 at 4:00 PM EST (2:00 PM MST). Interested parties can join the call by dialing (800) 862-9098. International participants may access the call by dialing +1 785 424-1051. The conference code is "CORGENIX". A replay will be available for 30 days following the call by dialing (800) 283-9429 for domestic participants and +1 402 220-0871 for international participants.
About Corgenix Medical Corporation
Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders, including the world's only non-blood-based test for aspirin effect. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network and has significant experience advancing products through the FDA process. More information is available at www.corgenix.com.
Statements in this press release that are not strictly historical facts are "forward looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the company does not undertake any obligation to publicly update or revise any forward-looking statements.
SOURCE Corgenix Medical Corporation
CONTACT: Company, William Critchfield, Senior VP and CFO of Corgenix
Medical Corp, +1-303-453-8903, wcritchfield@corgenix.com; or Media, Dan
Snyders, Vice President, Public Relations Supervisor of Armada Medical
Marketing, +1-303-623-1190, ext. 230, dan@armadamedical.com, for Corgenix
Medical Corp
Web site: http://www.corgenix.com/
