TUSTIN, Calif., Oct. 22 /PRNewswire-FirstCall/ -- (http://www.amdl.com/) AMDL, Inc. (AMEX:ADL), a vertically integrated pharmaceutical company with major operations in China and the US, today announced it has been named the #1 fastest growing public company in the Orange County area by the Orange County Business Journal (OCBJ).
The OC Business Journal's list of the 50 fastest-growing public companies is published as a part of OCBJ's 2008 Annual Book of Lists which includes 60 other unique listing categories. The list of the 50 fasted-growing public companies is based on key metrics including the company's three-year revenue and sales growth performance by percentage and sales. Monday, the OCBJ unveiled its 2008 list and AMDL claimed the coveted #1 position with revenue growth of over 33,400% and sales exceeding $26 million between the period of June 30, 2005 and June 30, 2008.
"This recognition is one we are very proud of," explained Mr. Gary Dreher, AMDL's President and CEO. "The focus, dedication and commitment we have to our shareholders have driven the Company's overall performance well beyond our business and financial forecasts and this award is a tangible representation of our team's ability to successfully manage and execute to success. I'm very proud of AMDL's progress and we will remain diligent in our on-going efforts. This includes achieving $26 million in sales in the second half of this year and $30 to $38 million in projected revenues for fiscal year 2008." Specifically, Mr. Dreher credits the Company's strong revenue growth primarily to its consistent execution on key business initiatives, including the successful acquisition of Jade Pharmaceuticals in 2006 and solid marketing, sales, and expanded distribution of high profit products such as its Goodnak(R) anti-aging product line, Domperidone anti-emetic product and various off-label pharmaceuticals. Strong sales of these products have driven AMDL's year-over-year revenue growth by more than 100%, specifically in the past 24 months. The Company has also hit key business milestones over the past 12 months that position the AMDL for continued growth. This includes success in obtaining regulatory approval by the United States Food and Drug Administration (US FDA) for the AMDL ELISA DR-70(R) (FDP) cancer test.
To learn more about AMDL and its diverse portfolio of diagnostic, cancer therapy and pharmaceutical and diagnostic products visit http://www.amdl.com/ About AMDL: Headquartered in Tustin, CA with operations in Shenzhen, Jiangxi, and Jilin, China, AMDL, Inc., along with its subsidiary Jade Pharmaceutical Inc. (JPI), is a vertically integrated bio-pharmaceutical company devoted to the research, development, manufacturing, and marketing of diagnostic, pharmaceutical, nutritional supplement, and cosmetic products. The company employs approximately 320 people in the U.S. and China. The Company has an additional 4 pharmaceutical and diagnostic products under review by various regulatory authorities.
Forward Looking Statements: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to AMDL Inc., except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties related to the Company's access to additional capital, competition and dependence on key management.
AMDL Contact:
Kristine Szarkowitz
Director-Investor Relations
(Tel:) 206.310.5323
DATASOURCE: AMDL, Inc.
CONTACT: Kristine Szarkowitz, Director-Investor Relations of AMDL, +1-206-310-5323, Web site: http://www.amdl.com/
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