TUSTIN, Calif., Nov. 14 /PRNewswire-FirstCall/ -- AMDL, Inc. , announced today that sales for its wholly owned subsidiary, Jade Pharmaceutical Inc., totaled $1.98 million for the third quarter ended September 30, 2006 and $5.07 million for the first nine months of 2006. The sales are not included in AMDL's third quarter consolidated finance statement because the acquisition did not close until the end of September 2006.
Jade Pharmaceutical's net income for the three and nine months ended September 30, 2006 was $791,929 and $1.62 million, respectively. Results of its operations will be included in the combined consolidated financial statements beginning in the fourth quarter of 2006.
AMDL announced sales of its DR-70(R) cancer test kit totaled $54,105 for the first nine months of 2006. The Company announced a net loss of $962,337, or 13 cents per share, for the third quarter of 2006 and a net loss of $2.57 million, or 38 cents per share, for the first nine months of 2006.
"AMDL continues to focus on receiving U.S. Food and Drug Administration clearance to market our DR-70(R) cancer test in the United States which will also strengthen our position in overseas markets. We are also very pleased by the continued outstanding growth at Jade Pharmaceutical," said Gary Dreher, AMDL CEO.
JPI sells prescription pharmaceutical products and over-the-counter products in China including injectables, capsules, tablets, liquids and medicated skin products.
About AMDL: AMDL, Inc. , headquartered in Tustin, California, with operations in Shenzhen, Jaingxi and Jilin China through its wholly owned subsidiary Jade Pharmaceutical Inc., is an international biopharma company. AMDL together with Jade engages in the development, manufacture and marketing of proprietary pharmaceutical and testing products. More information about AMDL and its products can be obtained at http://www.amdl.com/.
Forward-Looking Statements: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
Contact: AMDL, Inc.
Gary L. Dreher
President & CEO
(714) 505-4460
