PuriCore plc
Q1 Interim Management Statement
Record Revenues and Sterilox Food Safety System Installations in Q1
2009
MALVERN, PENNSYLVANIA, AND STAFFORD, UK, 28 April 2009 - PuriCore
(LSE : PURI ), the life sciences company focused on developing and
commercialising proprietary, green solutions that safely, effectively,
and naturally kill infectious pathogens without causing harm to human
health or the environment, issues its Interim Management Statement
covering the period 1 January 2009 to 31 March 2009. PuriCore also
today announces its 2008 final results (see separate release).
Q1 Highlights
. Sales increased 16% (28% on a constant currency basis) to USD10.5
million (Q1 2008: USD9.1 million)
. Cash as at 31 March 2009 of USD15.7 million
. Record quarterly shipments of 387 Sterilox Food Safety Systems
. New Endoscopy pass-through AER and additional decontamination
services launched in UK
. Early traction in the Wound Care business with continued positive
clinical feedback
Business Report
The US Food Safety business achieved a record number of installations
and revenues in Q1 2009 resulting from major contracts won in 2008
including the full North American rollout of Safeway, a top-five US
supermarket retailer. UK Endoscopy revenues were slightly behind the
prior year due to the very strong Q1 2008 results (68% growth over Q1
2007) but remain on track to deliver expected full-year revenue growth
for 2009. In the new Wound Care business, PuriCore achieved early
market traction in Q1 2009 and continues to receive very positive
feedback from key opinion leaders across the US. Cash as at 31 March
2009 was USD15.7 million with USD7.6 million in accounts receivable, an
increase of approximately USD4.6 million from 31 December 2008 due to
the strong Q1 sales. The Company also remains on target to reduce
operating expenses by a further 10% from 2008 levels.
Greg Bosch, Chief Executive of PuriCore, said:"PuriCore has made a strong
start to 2009, delivering record revenues
despite a challenging economy and the significant impact of weaker
sterling. We remain on target to achieve our financial and operating
goals for the full year, and we are confident that we continue to be
well-positioned to execute on our business plan."
Enquiries:
Ben Brewerton Greg Bosch, CEO
Susan Quigley Darren Weiss, VP Finance
Financial 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 and commercialising proprietary green solutions that safely,
effectively, and naturally kill infectious pathogens without causing
harm to human health or the environment. PuriCore's patented,
proprietary technology mimics the human body's production of the
natural antimicrobial hypochlorous acid, offering a safe and
non-hazardous approach to disinfection and sanitisation. The Company's
products are used in a broad range of markets that depend upon
controlling contamination, including food retail and foodservice,
medical device disinfection, and wound care. Hypochlorous acid is
proven to be safe, environmentally friendly, and fast acting against a
broad range of infectious pathogens, including major public health
threats of M.tuberculosis, MRSA, E.coli, Norovirus, H5N1 Avian
Influenza, HIV, Salmonella, Polio Virus, Helicobater pylori,
and Legionella. PuriCore is headquartered in Malvern, Pennsylvania,
with offices in Stafford, UK.
To receive additional information on PuriCore, please visit our website
at www.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 based on the Company's current expectations, estimates,
and projections about its industry; its beliefs; and assumptions. Words
such as 'anticipates,''expects,''intends,''plans,''believes,''seeks,'
'estimates,' and similar expressions are intended to identify
forward-looking statements. These statements are not guarantees of
future performance and are subject to known and unknown risks,
uncertainties, and other factors, some of which are beyond the
Company's control, are difficult to predict, and could cause actual
results to differ materially from those expressed or forecasted in the
forward-looking statements. The Company cautions shareholders and
prospective shareholders not to place undue reliance on these
forward-looking statements, which reflect the view of the Company only
as of the date of this announcement. The forward-looking statements
made in this announcement relate only to events as of the date on which
the statements are made. The Company will not undertake any obligation
to release publicly any revisions or updates to these forward-looking
statements to reflect events, circumstances, or unanticipated events
occurring after the date of this announcement except as required by law
or by any appropriate regulatory authority.
All 2009 financials are unaudited.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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