HIGH SPRINGS, FL--(Marketwire - November 18, 2009) - CTD Holdings, Inc. (OTCBB: CTDH) (FRANKFURT: CDJ) announced today its third quarter results of operations.
CTD Holdings posted net income for the third quarter of $32,735 and reduced its total nine month loss to ($34,871) vs. ($74,606) in 2008, a 53.3% improvement. Revenue increased 51.5% for the three months ended September 30, 2009 vs. the September 30, 2008 period. Overall revenue for the nine months ended September 30, 2009 increased 24% to $460,277 vs. $371,230 for the comparable 2008 period. Working capital increased 21.4% to $539,000 as of September 30, 2009. Working capital is 88.4% of the company’s total 2009 projected sales as of September 30, 2009.
Mr. Strattan, CTD’s chief executive officer stated, “Our diligent efforts to expose our cyclodextrin expertise to the marketplace is beginning to generate the financial results we have been working towards. The company’s current work with the application of Cyclodextrins in the treatment for Neimann Pick C disease and the related research that this process is creating, has generated the possibility of new revenue sources for our products.” Mr. Strattan further stated, “We are now in the process of planning for our 2010 fiscal year and believe that shareholders will be pleased with our transformation plans for the company.”
About CTD Holdings, Inc.
The company is the one-stop shop, business-to-business facilitator of commercial and research applications of Cyclodextrins. With its branded Trappsol®, Aquaplex® and Cyclo™ product offerings, CTDH scientists coordinate the development of commercial products for use in the pharmaceuticals, foods, hazardous waste treatment, and cosmetics industries, which endeavor to put non water-soluble ingredients into water-based formulations. More recently CTDH has worked, in an advisory capacity, on the benefits and application of Cyclodextrins as a treatment for Neimann Pick C disease, a debilitating childhood disease often called Childhood Alzheimer’s. More information about the company is available on the company’s website: www.cyclodex.com
This news release contains “forward-looking statements” that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements. CTDH complies with the regulations and time lines mandated by the SEC in the filing of its financial reports; these filings also contain forward-looking statements. The above forward-looking statements are made as of the date above; CTD Holdings, Inc. accepts no specific responsibility for updating such statements
Contact:
Rick Strattan
386-454-0887
