TUSTIN, Calif., Aug. 1 /PRNewswire-FirstCall/ -- (http://www.amdl.com) AMDL, Inc. (Amex: ADL), a leading vertically integrated bio-pharmaceutical company with major operations in China and the U.S., announced today it adjusted its financial guidance for the second quarter of 2008, which ended on June 30, 2008, based upon unexpected delays in revenue recognition from unshipped product of its Domperidone anti-emetic drug sold in China. AMDL reiterates that its gross FY2008 sales are anticipated to be between $30 million and $38.7 million with gross margins expected to range between 46% and 52%.
The delay in these shipments was the result of the May 12, 2008 earthquake disaster in Southwestern China. Due to the earthquake, AMDL's subsidiary JJB was forced to delay a portion of its Q2 Domperidone orders. Consequently, the Company's second quarter gross revenues will be approximately $5.8 million, which is still approximately a 140% increase over Q2/2007. Net earnings after currency adjustments are now anticipated to be between $50,000 to $113,000. The drop in anticipated Q2 earnings was also due to lower Domperidone sales, a one-time non-reoccurring land use payment and the donation of JJB products to the China earthquake relief efforts. The lower than anticipated Q2 sales and earnings are now fully expected to be made up in both the third and fourth quarters of 2008.
AMDL has targeted net sales for FY2008 to increase at least 100%
percent over FY2007 and anticipates they will be in the range of $30 to
$38.7 million with gross margins of 46% to 52%. Gross revenues for FY2007
were $15 million with gross margin 54% of gross revenues. The FY2008 R&D
and SG&A expenses are expected to to
|SOURCE AMDL, Inc.|
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