TUSTIN, Calif., Nov. 19 /PRNewswire-FirstCall/ -- AMDL, Inc. , headquartered in Tustin, California, with operations in Shenzhen, Jiangxi and Jilin China, through its wholly owned subsidiary Jade Pharmaceutical Inc. (JPI), an international biopharma company, announced today that it generated sales of approximately $5.8 million for the third quarter of 2007 compared to $2.3 million for the second quarter of 2007. Net income for the third quarter was approximately $630,000 (unaudited) or $0.05 cents per share, which includes approximately $250,000 of gain on foreign currency translation. The results for the three months ended September 30, 2007 reflect the first quarter of profitable operations since the Company's inception.
Mr. Gary Dreher, CEO of AMDL, noted that, "AMDL's introduction of new products and increased distribution channels caused the upturn in revenues demonstrates that JPI should continue to provide earnings in the future. We anticipate that our Chinese subsidiaries will continue to experience strong sales and gross profit growth that will greatly improve AMDL's combined operating results."
About AMDL: More information about AMDL and its products can be obtained at http://www.amdl.com/. AMDL, together with Jade, engages in the development, manufacture and marketing of proprietary pharmaceutical and diagnostic products.
About Jade: Jade has access to the fastest growing pharmaceutical and consumer market in the world: China. AMDL, through its Jade subsidiaries, currently holds licenses for 133 products that are manufactured as large volume injection fluids, tablets and other related products. It currently manufactures over 20 key generic, over the counter and supplemental pharmaceutical products under certified Chinese Good Manufacturing Practice (CGMP) standards.
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. Mr. Paul Knopick AMDL Investor Relations Direct Line: 949.707.5365 Voice Mail: 714.505.4460 For Immediate Release
