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Microfluidics International Corporation Announces Third Quarter 2009 Financial Results
Date:11/2/2009

NEWTON, Mass., Nov. 2 /PRNewswire-FirstCall/ -- Microfluidics International Corporation (OTC Bulletin Board: MFLU), today reported unaudited financial results for the third quarter ended September 30, 2009.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090811/NE59652LOGO )

Third quarter accomplishments:

  • Earned net income for the third quarter of $425,000
  • Achieved $650,000 in earnings before interest, taxes, depreciation and amortization (EBITDA)
  • Delivered strong bookings in the third quarter of $4.8 million and a backlog of $4.75 million as of September 30, 2009
  • Generated $4.5 million in revenue for the third quarter, a 27% increase over the same period in 2008

"I am pleased to report that the strategic plan we implemented a year ago has led us to our first profitable quarter since my joining the Company," said Michael C. Ferrara, Chief Executive Officer of Microfluidics. "We will continue to innovate with new products, increase international representative and distributor coverage, streamline costs and improve quality in support of our customers as we strive to carry this positive momentum through the second half of the year and into 2010."

"The initiatives and strong cost controls implemented in the first half of the year are yielding tangible results," said Peter Byczko, Vice President of Finance and Chief Accounting Officer. "Demand in our product line remains strong, especially within our core biopharmaceutical markets and customers are exhibiting increased interest in value-added services as they realize the importance of maximizing machine uptime and availability. We are pleased with our results and will continue to work to improve the financial position of the Company."

Third Quarter Financial Results:

Revenues for the three months ended Septe
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SOURCE Microfluidics International Corporation
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