20th Feb 2008 07:01
PuriCore Plc20 February 2008 PuriCore Announces Pre-Close Trading Update for Year Ended 31 December 2007 - 2007 earnings in line with expectations - - Strong order book in Food Safety to drive growth in 2008 - MALVERN, PENNSYLVANIA, AND STAFFORD, UK, 20 February 2008 - PuriCore (LSE:PURI), the life sciences company focused on the control of infectious pathogenswith its novel, safe antimicrobial technology, today provides a trading updateprior to publication in late April 2008 of its preliminary results for the yearended 31 December 2007. PuriCore's solutions mimic the human body's productionof its natural anti-microbial, hypochlorous acid, offering an entirely safe andnon-hazardous approach to disinfection and sterilisation. The Company's productsare used in a broad range of markets, including food retail and foodservice,medical device disinfection, wound therapy, and hospitality. 2007 PuriCore expects to announce sales for 2007 of approximately $19.1 million, anincrease of 20% over the year ended 31 December 2006. Earnings per share isexpected to be reported in-line with consensus analyst estimates. PuriCore's USSterilox Food Safety business, which targets leading retail supermarket chains,experienced 21% revenue growth in the full year 2007 vs. 2006, withapproximately 185 Sterilox System installations last year, consistent with theCompany's expectations at the time of its Interim results. In the UK SteriloxEndoscopy business, which targets hospital endoscope sterilisation units, thecontinued growth of recurring revenues combined with the expanded productportfolio of its new AER distribution partnerships (integrated during the year)drove 20% revenue growth in the period (11% on a constant currency basis). 2008 As announced last month, PuriCore was awarded an $11 million order from one ofthe five largest food retailers in the US to install PuriCore's Sterilox FoodSafety Systems throughout approximately half its store network in 2008. Thisorder represents the second top-five US retailer to integrate the Sterilox FoodSafety System. PuriCore also announces this week that its Sterilox Food SafetySystem received two additional major industry awards from NSF International, theworld leader in standards development, product certification, education, andrisk-management for public health and safety, and from the National RestaurantAssociation. The combination of the robust pipeline in Food Safety togetherwith the continued expansion of the UK Endoscopy business is expected to fuelsignificant organic growth in 2008. New Developments In a separate statement issued today, PuriCore announced that it has signed anagreement to acquire a portfolio of nine US patents from Electro-ChemicalTechnologies, Ltd. (ECT) in the field of electrolysed water and relatedprocesses. Additionally, PuriCore announced that it signed separate agreementsto hire two ECT scientists who bring significant collective experience in thefields of water safety and technology. These agreements are expected to expandPuriCore's opportunities in commercial and industrial water treatment. Greg Bosch, Chief Executive of PuriCore, said: "We continue to be very focused on building market leadership in our corebusiness segments and geographies for the control of infectious pathogens. Wegained real traction in the Food Safety business during 2007 and lookconfidently towards the year ahead. With our current book of business combinedwith anticipated order flow, we anticipate significant top-line growth that willalso enable us to achieve additional leverage of our operations." Contacts: PuriCore plc +1 (484) 321 2700Greg Bosch, Chief Executive OfficerKeith A. Goldan, Chief Financial Officer Financial Dynamics +44 (0) 20 7831 3113Ben BrewertonSusan Quigley Notes to Editors: All financials are unaudited. 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 rinses, 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. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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