NEW YORK, June 12 /PRNewswire-FirstCall/ -- Memry Corporation , a leading supplier of advanced material components to the medical device industry, announced today the launch of Putnam Plastics Plus, a new product line offered by the company’s Putnam polymer division, that is focused exclusively on secondary operations solutions for medical polymer tubing.
The announcement was made at the annual Medical Design & Manufacturing Conference East (http://www.MDMeast.com) at the Javits Center in New York where Memry is exhibiting its full line of products for the medical device industry.
The company also announced a new PPC+, web site, http://www.putnamplus.com, within a newly designed http://www.putnamplastics.com.
With a variety of secondary operations support and capabilities, PPC+ offers dedicated support in areas such as tipping/welding, hole drilling, custom grinding, precision cutting, pad printing, product assembly and flaring.
Robert Belcher, CEO of Memry Corporation, said, “Putnam Plastics Plus has been established to streamline the supply chain and expedite application development for our customers. With in-house design and state-of-the-art manufacturing, PPC+ will provide focused secondary operations solutions within the polymer division, giving our customers the added benefit of efficiency, traceability and consolidated resources. The extent to which we plan to offer support to our customers in this platform can be seen in the new website that we launched today.”
Jim Dandeneau, president of Putnam Plastics and Memry’s polymer segment, said, “With PPC+, we are able to enhance the ability of our customers to develop and bring their new medical devices to market in a more effective and efficient manner.”
Photos from the conference can be seen at http://www.hawkassociates.com/mrymore.aspx.
About Memry Corporation
Memry Corporation provides design, engineering, development and manufacturing services to the medical device and other industries using the company’s proprietary shape memory alloy and polymer extrusion technologies. Medical device products include stent components, catheter components, guidewires, laparoscopic surgical sub-assemblies and orthopedic instruments as well as complex, multi-lumen, multi-layer polymer extrusions used for guidewires, catheters, delivery systems and various other high-end interventional medical devices.
An investment profile on Memry may be found at http://www.hawkassociates.com/mryprofile.aspx.
For more information, contact Memry Chief Financial Officer and Treasurer Richard F. Sowerby at (203) 739-1100, e-mail: Richard_Sowerby@Memry.com, or Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com. Detailed information about Memry Corporation can be found at http://www.memry.com. Copies of Memry Corporation press releases, SEC filings, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com. To receive future releases via e-mail, sign up at http://www.hawkassociates.com/email.aspx.
This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the company’s control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the company’s periodic filings with the Securities and Exchange Commission. In this release, the company refers to EBITDA and Adjusted EBITDA, financial measures that are not recognized under accounting principles generally accepted in the United States of America (GAAP). The company defines EBITDA as earnings before income taxes, interest expense, net, depreciation and amortization. The company defines Adjusted EBITDA as EBITDA further adjusted to exclude material non-cash items and items that may be infrequent in occurrence or, in management’s view, not indicative of the company’s continuing operating performance and cash flows. EBITDA and Adjusted EBITDA should not be considered as alternatives to, or more meaningful than, net income, operating income, cash flows from operations or other traditional indications of a company’s operating performance or liquidity that are derived in accordance with GAAP. In addition, the company’s calculations of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures being disclosed by other companies, limiting their usefulness as comparative measures. The company discloses EBITDA and Adjusted EBITDA as each is a commonly referred to financial metric used in the investing community to evaluate the performance of companies in our industry. The company believes that disclosure of EBITDA and Adjusted EBITDA is helpful to those reviewing its performance, as EBITDA and Adjusted EBITDA provide information on the company’s ability to meet debt service, capital expenditure and working capital requirements, and management believes that EBITDA and Adjusted EBITDA are also useful indicators of the company’s operating performance. We present Adjusted EBITDA as a percentage of revenues because management believes it is a useful indicator of the company’s operating performance.
Hawk Associates, Inc. Frank N. Hawkins, Jr. or Julie Marshall Phone: (305) 451-1888 E-mail: info@hawkassociates.com
Memry Corporation
CONTACT: Frank N. Hawkins, Jr., or Julie Marshall, +1-305-451-1888, orinfo@hawkassociates.com, both of Hawk Associates, Inc., for MemryCorporation
