23rd Jul 2007 07:01
PuriCore Plc23 July 2007 PuriCore Trading Update H1 2007 Revenue at Record Levels MALVERN, PENNSYLVANIA, AND STAFFORD, UK, 23 July 2007- PuriCore (LSE: PURI)announces a trading update prior to the publication on 24 September of itsinterim results for the six months ended 30 June 2007. PuriCore's products,which generate a solution that mimics the natural anti-microbial hypochlorousacid produced by the human body to fight pathogens, are used in a broad range ofmarkets that depend upon controlling contamination, including food safety,medical device disinfection, wound management, and hospitality. PuriCore expects to announce sales for the period of approximately $10.3million, an increase of 23% over H1 2006 (16% growth on a constant currencybasis). The first half of 2007 was the strongest to date for PuriCore, andrecurring revenue from leases, rentals, consumables, and service contractsrepresented approximately two-thirds of all sales, significantly higher than inH1 2006. The US Sterilox Food Safety business, which targets leading retail supermarketchains, experienced 55% revenue growth in the first half over the same period inthe prior year with approximately 60 system installations in H1. Although thiswas lower than expected, the Company is confident about current businessopportunities. To date, Sterilox Food Safety has penetrated two of the top 10(including one of the top three) US retail supermarket chains, and several moreare conducting late-stage trials. Discussions with major grocery retailerscontinue to progress well, and the Company remains optimistic about convertingone or more of these opportunities in 2007. The UK and International Sterilox Endoscopy business, which targets hospitalendoscope sterilisation units, experienced 12% revenue growth in the period(1.5% on a constant currency basis). Excluding International sales, UKEndoscopy revenues grew 12% (constant currency), with significant contributionfrom the new distribution partnerships with Minntech and BHT. Greg Bosch, Chief Executive of PuriCore, said: "PuriCore's sales grew 23% in the first half of this year, and the proportion ofrecurring revenue continues to increase. We saw strong revenue growth in theSterilox Food Safety business and remain very bullish on the currentopportunities in this area. In the UK, despite the continued constraints on NHS purchasing, revenues for theSterilox Endoscopy business were up an encouraging 12%, driven by sales from ourown Sterilox products and our newly launched endoscopy reprocessor partnerships. Overall, we are very optimistic about PuriCore for the remainder of 2007." Contacts:Ben Brewerton Greg Bosch, CEOJohn Gilbert Keith Goldan, CFOFD PuriCore plc+44 (0) 20 7831 3113 +1 484 321 2700 Note to Editors: About PuriCore PuriCore (London Stock Exchange: PURI) is a life sciences company focused ondeveloping and commercializing proprietary products that safely, effectively,and naturally kill contagious pathogens. PuriCore's technology provides asolution to a broad range of markets that depend upon controlling contamination,including food safety, medical device disinfection, wound management, andhospitality. 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 web site atwww.puricore.com, which does not form part of this press release. All financials are unaudited. 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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