Polydex Pharmaceuticals Issues First Quarter Financial Results Showing a Return to Profitability
June 13 2011 - 2:03PM
Polydex Pharmaceuticals Limited (Pink
Sheets:POLXF) (the "Company") reports financial results for the
first quarter of fiscal 2012, the three-months ending April 30,
2011. All figures are reported in U.S. dollars.
|
Q.1, ending 4/30/2011 |
Q.1, ending 4/30/2010 |
|
|
|
Sales |
$1,730,838 |
$1,293,329 |
|
|
|
Net Income |
147,134 |
(83,136) |
|
|
|
Income (loss) per common share |
0.05 |
(0.03) |
|
|
|
Weighted avg. common Shares outstanding
(basic and diluted) |
3,122,846 |
3,072,846 |
The company's long-standing reputation for consistent high-grade
product has generated increasing interest in the company's core
product line from both new and existing customers on a worldwide
basis, resulting in an increased level of orders.
"It's great to see a return to profitability," says George
Usher, President and CEO. "The plant is operating around the clock
during the week, and our customers continue to indicate their needs
for more product. We intend to remain vigilant with our
quality-control and cost-management efforts, in order to produce
the highest quality products needed to meet our customers' demands.
Our continued efforts to increase profit margins and sales should
help to meet our goal of increasing shareholder value."
The Company shares are traded on the Over the Counter Bulletin
Board (www.otcbb.com). The company continues full disclosure of its
financial and operational results, which can be accessed by
visiting the company website at www.Polydex.com.
Product information is available at
www.dextran.ca
Polydex Pharmaceuticals Limited, based in Toronto, Ontario,
Canada, is engaged in the development, manufacture and marketing of
biotechnology-based products for the human pharmaceutical market,
and also manufactures bulk pharmaceutical intermediates for the
worldwide veterinary pharmaceutical industry.
The Polydex Pharmaceuticals Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3414
Note: This press release may contain forward-looking
statements, within the meaning of the United States Securities Act
of 1933, as amended, and the United States Securities Exchange Act
of 1934, as amended, regarding Polydex Pharmaceuticals Limited,
including, without limitation, statements regarding expectations
about future revenues or business opportunities or potential
research projects. These statements are typically identified by use
of words like "may", "could", "might", "expect", "anticipate",
"believe", or similar words. Actual events or results may differ
materially from the Company's expectations, which are subject to a
number of known and unknown risks and uncertainties including but
not limited to changing market conditions, future actions by the
United States Food and Drug Administration or equivalent foreign
regulatory authorities as results of pending or future clinical
trials. Other risk factors discussed in the Company's filings with
the United States Securities and Exchange Commission may also
affect the actual results achieved by the
Company.
CONTACT: Investor Relations:
North Arm Capital Services
Linda Hughes
1-877-945-1621
(Linda@northarm.com)
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