AMDL, Inc. Announces First Quarter 2009 Financi... (n in gross revenues and $600000 in earni...)

AMDL, Inc. Announces First Quarter 2009 Financial Results

Date:5/15/2009

n in gross revenues and $600,000 in earnings into the second quarter of FY2009 from FY2008 fourth quarter sales of AMDL's HPE-based anti-aging product.

"We remain confident in the Company's near-term outlook, 2009 business strategy and financial forecast," continued Mr. MacLellan. "Our China operations remain solid and sales are on track. We are also making strong traction with our in vitro diagnostics division and the commercialization of AMDL's DR-70 cancer test. This includes the signing of a collaborative partnership with Mayo Clinic and securing our first customer and distributor partnerships with Precision Diagnostics Laboratories Inc. and GenWay Biotech Inc. respectively. As we move further into the second quarter we expect to secure additional partnerships which we believe will have substantial impact on the commercialization of DR-70. Lastly, management continues to assess AMDL's overall operations and has already taken direct steps to strengthen the Company's expense structure and increase cash flow. With cost control and financing initiatives underway, we expect to maintain our track record of profitability in China, proceed down a path to profitability in our Tustin-based operations, and meet AMDL's 2009 guidance."

AMDL's FY2009 Guidance projections do not include any significant sales for the DR-70 (FDP) in vitro cancer diagnostic test or export sales for the AMDL's HPE-based anti-aging skin care products -- both of which AMDL is in the process of commercializing.

Cost Controls

AMDL is taking proactive measures to reduce over $1.5 million of general & administrative expenses in FY2009 with the goal of increasing operational efficiencies and managing the business in an increasingly prudent manner. These cost containment activities include increased monitoring of discretionary spending and an anticipated 30% reduction in overall 3rd party service provider fees
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AMDL, Inc. Announces First Quarter 2009 Financi...(n in gross revenues and $600000 in earni...),Health