Polydex Pharmaceuticals Reports Profitability In 2012 Fiscal Year End Financial Results

Date : 04/30/2012 @ 9:35AM
Source : GlobeNewswire Inc.
Stock : Polydex Pharmaceuticals Ltd. (PC) (POLXF)
Quote : 1.36  0.0 (0.00%) @ 9:36AM
Polydex Pharmaceuticals Ltd. (PC) share price Chart

Polydex Pharmaceuticals Reports Profitability In 2012 Fiscal Year End Financial Results

Polydex Pharmaceuticals Ltd. (PC) (USOTC:POLXF)
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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

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