HIGH SPRINGS, FL--(Marketwire - May 19, 2011) -
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In the first quarter of 2011 the company reported more than $254,000 in product sales. This level of sales in the first quarter is a company record and is the second consecutive quarter with sales greater than $250,000. It represents a 49% increase over the same period in 2010. The company's rapid growth has continued into the new fiscal year.
The company clarified its sales of the largest single product line Trappsol® HPB. This product line consists of several individual products representing different grades of material. One of the Trappsol® HPB products is a high purity, narrow specification product called Trappsol® Cyclo. Trappsol® Cyclo has received Orphan Drug designation from the U.S. FDA and is used in the experimental treatment of children for Nieman Pick Type C disease. While Trappsol® Cyclo is an important and growing product for the company, its sales in the first quarter were $19,000 as compared to $139,000 for all other Trappsol® HPB products.
Sales of Aquaplex® products continued to grow and showed a large increase due to the receipt of a large order from a large Aquaplex® customer.
The quarterly operating loss fell 95% over the same period in 2010 as the company continued its progress toward overall profitability.
"The company growth begun in 2010 has continued into the first quarter of 2011," stated Dr. Jeffrey Tate, Executive, V.P. and Director. "Growth will continue as we maintain our market and investor communications program and complete the NanoSonic Products, Inc. new manufacturing facility."
If you would like more information or have any questions, please contact our Director of Corporate Communication, David Corner at 386-454-0887 or send an email to investor@ctd-holdings.com.
Safe Harbor Statement: 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. The above forward-looking statements are made as of the date above; CTD Holdings, Inc. accepts no specific responsibility for updating such statements.
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