Polydex Pharmaceuticals Reports Profitability In 2012 Fiscal Year End Financial Results
April 30 2012 - 09:35AM
Polydex Pharmaceuticals Limited (OTCBB:POLXF) (the
"Company") reports financial results for its fiscal year ended
January 31, 2012. All figures are reported in U.S. dollars.
|
Fiscal Year End 2012 |
Fiscal Year End 2011 |
|
|
|
Sales |
$6,165,754 |
$4,483,105 |
|
|
|
Net Income (Loss) |
231,668 |
(697,658) |
|
|
|
Income (Loss) per common
share |
|
Basic |
0.07 |
(0.23) |
Diluted |
0.07 |
(0.23) |
|
|
|
Weighted avg. common |
|
shares outstanding |
|
|
Basic |
3,122,846 |
3,072,846 |
Diluted |
3,487,778 |
3,072,846 |
Net income for the year of $238,668 represents a significant
improvement from the loss of $697,658 last year. Management
strategies implemented in recent years has focused on customer
growth, earnings and cost containment.
EBITDA (Earnings Before Interest, Taxes, Depreciation and
Amortization) of $567,369 for fiscal 2012 demonstrates a 156%
improvement in fair market value of the company over the previous
year, where EBITDA is reported as a loss of $320,329.
President and CEO George Usher is looking forward to continuing
the growth trend that management has been developing in recent
years. "Our strategy to contain costs and capture emerging
customers in Europe and elsewhere has been successful for
us. We're looking at ways to expand production, increase
market share and develop refined products for the high margin
clinical grade supply chain."
The Company shares are traded on the Over the Counter Bulletin
Board (www.otcbb.com).
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. Company website:
www.Polydex.com
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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