29th Apr 2008 07:01
PuriCore Plc29 April 2008 PuriCore plc ("PuriCore" or "the Company") Interim Management Statement Q1 2008 Sales Increase 89% over Prior Year: 128% in Food Safety and 68% in UK Endoscopy MALVERN, PENNSYLVANIA, AND STAFFORD, UK, 29 April 2008 - PuriCore (LSE: PURI),the life sciences company focused on the control of infectious pathogens withits novel, safe antimicrobial technology, today issues its first InterimManagement Statement as required by the UK Listing Authority's Disclosure andTransparency Rules, covering the period 1 January 2008 to the date of thisannouncement. PuriCore also announces its Preliminary Results for the year ended31 December 2007 today in a separate release. Financial Results • Q1 2008 sales of approximately $9.1 million, up 89% versus Q1 2007 • Food Safety revenue $4.3 million, 128% increase • UK Endoscopy revenue $4.7 million, 68% increase Operational Highlights • $11 million Sterilox Food Safety contract announced for another top-five supermarket retailer • Sterilox Solution demonstrated to be highly effective against pandemic H5N1 avian influenza • In advanced discussions with several lenders to raise additional capital • Sterilox Solution approved for Organic Food production, processing, and handling Outlook With a strong current order book and further anticipated order flow in both corebusinesses, PuriCore foresees significant top-line organic growth in 2008. Thehigher sales levels, combined with improving margins throughout the year, willenable the Company to achieve additional leverage of operations and expansioninto new markets. Greg Bosch, Chief Executive of PuriCore, said: "PuriCore is off to a strong start to 2008 in both our US Food Safety and UKEndoscopy businesses. First quarter revenue grew almost 90% versus Q1 2007,while operating expenses were held at levels similar to prior year. Weanticipate continued significant growth throughout the year as we capitalise onincreasing market share and entrance into new markets." Enquiries:Ben Brewerton Greg Bosch, CEOSusan Quigley Keith A. Goldan, CFOFinancial Dynamics PuriCore+44 (0) 20 7831 3113 +1 484 321 2700 About PuriCore PuriCore plc (LSE: PURI) is a life sciences company focused on developing andcommercialising proprietary products that safely, effectively, and naturallykill contagious pathogens. PuriCore's technology provides a solution to a broadrange of markets that depend upon controlling contamination, including foodsafety in retail and foodservice, medical device disinfection, wound therapy,and hospitality. The Company's proprietary technology mimics the human body'sproduction of the natural antimicrobial hypochlorous acid, which is highlyeffective in killing bacteria, viruses, and fungal spores. Deployinghypochlorous acid solutions as soaks, sprays, mists, and in other forms,PuriCore's technology is designed to limit the spread of infectious disease,including major public health threats of M. tuberculosis, MRSA, E.coli,Norovirus, Avian Influenza, HIV, Polio Virus, Helicobater pylori, andLegionella. PuriCore is headquartered in Malvern, Pennsylvania, with offices inStafford, UK. To receive additional information on PuriCore, please visit our website atwww.puricore.com, which does not form part of this press release. Certain statements made in this announcement are forward-looking statements.These forward-looking statements are not historical facts but rather are basedon the Company's current expectations, estimates, and projections about itsindustry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,''intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressionsare intended to identify forward-looking statements. These statements are notguarantees of future performance and are subject to known and unknown risks,uncertainties, and other factors, some of which are beyond the Company'scontrol, are difficult to predict, and could cause actual results to differmaterially from those expressed or forecasted in the forward-looking statements.The Company cautions shareholders and prospective shareholders not to placeundue reliance on these forward-looking statements, which reflect the view ofthe Company only as of the date of this announcement. The forward-lookingstatements made in this announcement relate only to events as of the date onwhich the statements are made. The Company will not undertake any obligation torelease publicly any revisions or updates to these forward-looking statements toreflect events, circumstances, or unanticipated events occurring after the dateof this announcement except as required by law or by any appropriate regulatoryauthority. All 2008 financials are unaudited. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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