Polydex Pharmaceuticals Issues First Quarter Financial Results
June 15 2012 - 12:15PM
Polydex Pharmaceuticals Limited (Pink
Sheets:POLXF) (the "Company") reports financial results for the
first quarter of fiscal 2013, the three-months ending April 30,
2012. All figures are reported in U.S. dollars.
|
Q.1, ending 4/30/2012 |
Q.1, ending 4/30/2011 |
|
|
|
Sales |
$1,203,892 |
$1,730,838 |
|
|
|
Net Income (loss) |
(140,418) |
147,134 |
|
|
|
Income (loss) per common share |
(0.04) |
0.05 |
|
|
|
Weighted avg. common |
|
|
Shares outstanding (basic) |
3,172,846 |
3,122,846 |
Installation of a new reactor, and replacement of components of
the company's distillation equipment, resulted in a decrease in
production and sales for a period of two months during the first
quarter. Full production has now been resumed, with the
benefit of these equipment upgrades.
"We've seen a significant demand for product over the last
several quarters," said George Usher, President and CEO. "With
these new opportunities emerging from overseas markets, we are
planning and preparing for increased production and distribution.
We now have several product registrations in process in Europe and
elsewhere, and here at home, our order book continues to grow."
The Company has also been reviewing other projects in its
portfolio and is actively pursuing their potential for creating new
market opportunities.
The Company shares are traded on the Over the Counter Bulletin
Board (www.otcbb.com). The company continues full disclosure of its
financial and operational results, which can be accessed by
visiting the company website at www.Polydex.com. Product
information is available at www.dextran.ca.
Polydex Pharmaceuticals Limited, based in Toronto, Ontario,
Canada, is engaged in the development, manufacture and marketing of
biotechnology-based products for the human pharmaceutical market,
and also manufactures bulk pharmaceutical intermediates for the
worldwide veterinary pharmaceutical industry.
The Polydex Pharmaceuticals Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3414
Note: This press release may contain forward-looking
statements, within the meaning of the United States Securities Act
of 1933, as amended, and the United States Securities Exchange Act
of 1934, as amended, regarding Polydex Pharmaceuticals Limited,
including, without limitation, statements regarding expectations
about future revenues or business opportunities or potential
research projects. These statements are typically identified by use
of words like "may", "could", "might", "expect", "anticipate",
"believe", or similar words. Actual events or results may differ
materially from the Company's expectations, which are subject to a
number of known and unknown risks and uncertainties including but
not limited to changing market conditions, future actions by the
United States Food and Drug Administration or equivalent foreign
regulatory authorities as results of pending or future clinical
trials. Other risk factors discussed in the Company's filings with
the United States Securities and Exchange Commission may also
affect the actual results achieved by the Company.
CONTACT: Investor Relations:
North Arm Capital Services
Linda Hughes
1-877-945-1621
(Linda@northarm.com)
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