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Sharps Compliance Corp. Reports Net Income More Than Doubles on 26% Increase in Revenue in the First Quarter of Fiscal 2009
Date:10/27/2008

- Record customer billings up 30% year-over-year to $4.7 million in the

first quarter of fiscal 2009 - Record revenue of $4.3 million in the first quarter of fiscal 2009, a 26%

year-over-year increase - Strong sales to pharmaceutical manufacturers and retail market customers

drove growth in the first quarter

- Strong operating leverage drives bottom-line expansion

HOUSTON, Oct. 27 /PRNewswire-FirstCall/ -- Sharps Compliance Corp. (OTC Bulletin Board: SCOM) ("Sharps" or the "Company"), a leading provider of cost-effective disposal solutions for small quantity generators of medical waste, today reported record revenue of $4.3 million in the first quarter of fiscal 2009, which ended September 30, 2008, a 26% increase compared with revenue of $3.4 million in the first quarter of fiscal 2008. The Company also reported record customer billings of $4.7 million in the first quarter of fiscal 2009, a 30% increase compared with $3.6 million in the same period the prior fiscal year, primarily driven by strong growth in the pharmaceutical, retail, professional, commercial and agriculture markets. The Company believes customer billings are an appropriate measure of performance and progress of the business.

Sales and Billings Growth

Customer billings from contracts with pharmaceutical manufacturers increased to $874 thousand in the first quarter of fiscal 2009 compared with $7 thousand in the same period the prior year. The recently announced renewal of the Company's first Patient Support Program with a top ten pharmaceutical manufacturer contributed approximately $700 thousand in billings in the first quarter of fiscal 2009 and is expected to generate an additional $900 thousand in billings during the second half of fiscal 2009 ending June 30, 2009. As previously announced, two additional Patient Support Programs with pharmaceutical manufacturers are scheduled to l
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SOURCE Sharps Compliance Corp.
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