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MedClean Technologies Announces 2010 Results
Date:3/31/2011

BETHEL, Conn., March 31, 2011 /PRNewswire/ -- MedClean Technologies, Inc. (OTC Bulletin Board: MCLN) today announced financial results for the year ended December 31, 2010.

Operating highlights include:

  • During the year, the Company entered into new purchase agreements for MedClean systems, the aggregate sales price totaling $1.4 million in 2010 versus purchase agreements totaling $1.2 million in 2009, an increase of $199,267 or 16.4%.  Due to revenue recognition policies, revenue and the timing of the orders, revenue from these orders is expected to be recognized in 2011. The Company implemented a new policy in 2009 whereby revenue is only recognized upon the completion of the system installation versus the previous policy based upon percentage of completion.
  • MedClean's contracted backlog was $2.1 million as of December 31, 2010, up 11.4% sequentially from $1.9 million as of September 30, 2010 and up 98.8% from $1.1 million at December 31, 2009. The Company expects to recognize a significant portion of backlog during the first half of 2011.
  • Three distributor partners (Barnett Medical, Gamma HealthCare, and Sunbelt Medical Systems) have purchased initial systems to establish waste processing centers in their respective territories. These systems are currently in backlog and are scheduled for delivery within the first three quarters of 2011. By developing regionalized processing centers in California, Tennessee and Arkansas, MedClean and its partners can now offer customers low cost, localized service, providing regionalized alternatives competing directly with Stericycle.

Business infrastructure highlights include:

  • The Company has built a robust Certified Distributor Partner network with 10 solid organizations and 40-plus sales r
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SOURCE MedClean Technologies, Inc.
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