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revenues in the third and fourth quarters of 2008.
According the Gary Dreher, President and Chief Operating Office of AMDL, "We remain highly optimistic about AMDL's near-term outlook, and confident we will meet our 2008 business and financial targets. This means, at a minimum, we are focused on doubling sales in 2008 and annually over the next three years, leveraging our recent FDA clearance to market for our DR-70(R) cancer monitoring product, and securing additional regulatory approvals for other key products including the MyHPV(R) Chip Kit Test."
For FY2008 AMDL has targeted net sales ranging between $30 to $38.7 million with gross margins of 46% to 52% -- a 100% increase over the same period in 2007 where the Company achieved gross revenues of $15 million with a gross margin of 54% of gross revenues. For FY2008, R&D and SG&A expenses are expected to range between $6.8 to $9.5 million, including stock-based (common shares, warrants and options) compensation expenses. This is compared to $9.9 million over the same period in 2007. Net income after taxes is expected to be between $9.5 and $12.2 million including any foreign currency adjustments.
Currently, AMDL is in process of securing debt financing based on its
AAA bank rating for its real estate and plant assets in China. The Company
plans to secure $4 million in debt financing, which will be primarily used
to fund on-going product distribution and sales throughout China; the
development of additional production lines in China; execution on its
business development strategy for the recently FDA-approved DR-70(R)
monitoring test for colorectal cancer; securing SFDA-approval for DR-70(R)
and MyHPV(R) Chip Test Kit: and the marketing, sales and distribution for
the newest Goodank(R) anti-aging product formulations. The company also
plans to use a portion of the funds to acquire a China-based distributor
which will in effect allow AMDL to become an independent distributor in
specific regions i
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| SOURCE AMDL Copyright©2008 PR Newswire. All rights reserved |
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