AMDL, Inc. Announces First Quarter 2009 Financi... ( TUSTIN Calif. May 15 /- AMDL Inc. (NY...)

AMDL, Inc. Announces First Quarter 2009 Financial Results

Date:5/15/2009

TUSTIN, Calif., May 15 /PRNewswire-FirstCall/ -- AMDL, Inc. (NYSE Alternext US: ADL), a US-based pharmaceutical company with major operations in China, announced today unaudited results and the filing of its Form 10Q with the Securities and Exchange Commission ("SEC") for the first quarter ended March 31, 2009.

Financial Results

AMDL has a highly seasonal business that has historically resulted in low first quarter revenues and earnings. Given this seasonality, our first quarter results were within our expectations.

For the first quarter 2009 AMDL reported unaudited net revenues of approximately $2.71 million, a decrease of 7.8% compared with approximately $2.94 million in sales reported for the same period in FY2008. The decrease in net revenues was anticipated due to the seasonal nature of AMDL's business combined with the Company's inability to produce Goodnak(R) and Human Placenta Extract (HPE) anti-aging products dependent on a non-operational small-injectable production line which was off-line while awaiting mandatory 5-year GMP re-certification from the sFDA. In addition, distribution contracts with four primary beauty distributors expired during the fourth quarter of FY2008, impacting sales of other HPE-based anti-aging solutions. AMDL manufactured additional Goodnak and other small-injectable line dependant products in anticipation of these events and depleted product inventories sooner than anticipated due to higher than expected sales prior to year-end FY2008. The Company received re-certification on May 8, 2009 for the off-line small-injectable line and has resumed full product production. The Company is also in current re-negotiations to renew the expired distributor contracts pertaining to the HPE-based anti-aging solutions.

Gross profits for the first quarter FY2009 decreased to approximately $1.1 million compared to approximately $1.4 million for the same period in FY
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AMDL, Inc. Announces First Quarter 2009 Financi...( TUSTIN Calif. May 15 /- AMDL Inc. (NY...),Health