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AMDL, Inc. Announces 2009 Financial Guidance and First Quarter Business Objectives

TUSTIN, Calif., Jan. 26 /PRNewswire-FirstCall/ -- AMDL, Inc. (NYSE Alternext US: ADL), a leading vertically integrated bio-pharmaceutical company with operations in the U.S. and China, announced today its fiscal year 2009 preliminary financial guidance and first quarter business objectives.

Fiscal Year 2008 Guidance

AMDL reaffirms its fiscal year 2008 financial guidance of gross revenues in the previously announced range of US$32 million to $36 million, which represents more than a 100% increase over the US$15 million in gross revenues in fiscal year 2007. For fiscal year 2008, AMDL estimates net income after taxes but before foreign currency translation gains of between US$900,000 and $1.3 million. Comprehensive gains after foreign currency translations are estimated to be between US$2.4 and $2.6 million, a downward adjustment that is due to the recently announced equity incentive plan and one-time adjustment for severance payments accrued for AMDL's prior CEO.

Fiscal Year 2009 Preliminary Guidance

AMDL has successfully achieved over 100% gross revenue growth for the past consecutive four years and expects to achieve a comparable gross revenue growth rate for fiscal year 2009 with estimated gross revenues of US$64 million to $72 million and net income between US$8 million and $12 million after taxes and before foreign currency translation gains or losses for its China-based operations only.

This represents an approximate 100% increase in gross revenues over the Company's fiscal year 2008 performance and does not include sales revenue projections for the AMDL ELISA DR-70(R) (FDP) cancer test or export sales for the Company's Human Placental Extract (HPE) anti-aging product line, both of which AMDL anticipates it will begin selling in the second quarter of 2009. AMDL believes anticipated revenues from these two products could potentially result in an additional US$25 million in gross revenues and plans to provide formal revenue guidance for these products in the second quarter of 2009.

To achieve its fiscal year 2009 revenue projections, AMDL will execute three key business strategies that include:

  • Launching at least eight new Human Placenta Extract (HPE) product formulations, expanding the sales of our HPE anti-aging products to at least 36 additional Chinese markets serving over 1 million people and exporting select HPE product formulations to strategic international markets.

  • Commercializing the AMDL ELISA DR-70 (FDP) cancer monitoring test in the U.S. for monitoring of colorectal cancer and developing and marketing the product as a complementary test to other existing molecular diagnostic tests. Specifically, the Company expects to the sell the AMDL DR-70 ELISA (FDP) cancer test as a lung cancer screening test in Canada, as a general cancer screening test in Korea, Taiwan, Europe, and other non-harmonized countries in the Asian-Pacific market, and as a general cancer screen and/or a cancer specific test in Latin America and the Middle East.

  • Continuing aggressive sales of the Company's top-selling pharmaceutical products in China with a focus on expanding to at least 36 additional Chinese markets serving over 1 million people.

In fiscal year 2008 pharmaceutical product sales through AMDL's China-based wholly-owned subsidiary Jade Pharmaceuticals Inc. (JPI), which has sole ownership of two China-based pharmaceutical companies (Jiangxi Shangrao Kangda Pharmacy Co., Ltd. (JJB) and Yangbian Yiqiao Biochemistry Pharmacy Co., Ltd. (YYB), accounted for approximately 97% of the Company's total sales; and sales of the AMDL ELISA DR-70 (FDP) cancer test accounted for the remaining 3% of revenues. In fiscal year 2009, AMDL anticipates a shift in its revenue mix with product exports for the HPE anti-aging line and the AMDL ELISA DR-70 (FDP) cancer test combined to comprise up to 20% of total fiscal year 2009 sales, and pharmaceutical sales in China to account for the remaining 80%.

AMDL's Chairman and CEO, Douglas MacLellan, stated, "We are implementing a 2009 strategic business plan focused on three primary activities. This includes expanding product distribution and sales in China, continuing R&D on high-margin products that include HPE and the AMDL ELISA DR-70 (FDP) cancer test, and driving distribution and product sales in international markets beyond China where there is significant revenue opportunity for high-demand, high-margin products like HPE and DR-70."

Q1 2009 Business Objectives

In support of the Company's fiscal year 2009 financial projections, AMDL is focused on the following key business objectives for the first quarter of 2009:

  • Launch a new international and domestic brand strategy that effectively communicates the Company, its specific lines of business and expanded line of HPE export products.

  • Establish various U.S. and China-based credit facilities to provide up to US$12-16 million in additional working capital to meet AMDL's 12-18 month funding requirements. In fiscal year 2008 the Company worked diligently to attract additional capital with limited success that was primarily due to the less than attractive U.S. and China capital and banking markets. With significant and consistent revenue growth in 2008 and a solid platform for success already underway for fiscal year 2009, the Company expects to successfully secure credit facilities in both the U.S. and China during the first half of 2009.

  • Expand the Company's investor relations strategy to target and reach retail broker communities across the U.S. and secure independent analyst research coverage from at least two broker dealers.

  • Establish an expanded world-renowned scientific advisory board consisting of industry specialists in the fields of 1) in vitro diagnostics ("IVD") research & development and 2) anti-aging skin care products to support expanded sales of AMDL's Human Placenta Extract (HPE) anti-aging products.

  • Secure a minimum of 12 new international distributors for the AMDL ELISA DR-70 (FDP) cancer monitoring test and HPE anti-aging product line. Distributors targeted will serve the North American, Latin American, European, Middle-Eastern and Asia-Pacific markets.

  • Secure at least two clinical trial contracts at world-renowned U.S. clinical hospitals to test a next generation version of the AMDL ELISA DR-70 (FDP) colon cancer monitoring test. (Successful completion of these studies could establish the AMDL ELISA DR-70 (FDP) cancer test as the standard of care for the monitoring of colon cancer patients.)

  • Develop and launch a minimum of eight new HPE anti-aging product formulations.

  • Explore the potential acquisition of one or more China-based pharmaceutical distribution companies with the goal of expanding distribution reach and increasing gross sales for certain products specifically in China.

  • Enter into agreements to consolidate both of JPI's wholly-foreign owned enterprise (WFOE) pharmaceutical manufacturing and sales operations (JJB & YYB) into a single operation located in Shangrao, Jiangxi Province - a location in closer proximity to China's urban regions. The Company anticipates receiving over $8 million of relocation cost reimbursements and proceeds from the sale of certain of its existing properties. These funds would be used to underwrite the development of a new single-site facility. The Company expects these new facility development activities to: 1) attract regional tax and development incentives; 2) significantly improve JPI's operational efficiencies; 3) support the retention of highly qualified employees; and 4) lower overall operational costs. The relocation process is expected to take up to 24 months and will be implemented in a manner that will not disrupt existing operations, product manufacturing and/or distribution.

Mr. MacLellan continued, "Guided by an aggressive business strategy and quarterly objectives¸ AMDL is in the strongest position the business has ever been in its history. With the support of our incredibly strong team, both in the U.S. and China, we have complete confidence the Company will meet, and possibly exceed, our Corporate and financial targets for 2009. We look forward to a strong year for our customers, partners, employees and shareholders."

About AMDL:

Headquartered in Tustin, CA with operations in Shenzhen, Jiangxi, and Jilin, China, AMDL, Inc., along with its subsidiary Jade Pharmaceutical Inc. (JPI), is a vertically integrated bio-pharmaceutical company devoted to the research, development, manufacturing, and marketing of diagnostic, pharmaceutical, nutritional supplement, and cosmetic products. The company employs approximately 500 people in the U.S. and China.

Forward-Looking Statements:

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to AMDL, Inc., except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.

    AMDL Contact:
    Kristine Szarkowitz
    Director-Investor Relations
    (Tel :) 206. 310.5323

Copyright©2009 PR Newswire.
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