3 Nov 2009 07:00
PuriCore plc
Q3 Interim Management Statement
35% Revenue Growth with Increases in Food Safety and Endoscopy Sales
MALVERN, PENNSYLVANIA, AND STAFFORD, UK, 3 November 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, today issues an Interim Management Statement covering the three-month and nine-month periods ending 30 September 2009.
Financial Results (unaudited)
Q3 Operational Highlights
Post-Period Developments
Outlook
Results for Q3 2009 were strong despite the weakness of UK sterling (compared with Q3 2008 and 30 September YTD 2008), driven by the growth in PuriCore's US Food Safety core business, with approximately 50 US supermarket chains using Sterilox as at 30 September 2009, as well as by the incremental revenue achieved by Labcaire for the UK Endoscopy core business, which exceeded internal expectations. The Company remains on target with plans for the integration of Labcaire into the PuriCore UK Endoscopy business and for continuing to control operating expenses throughout the Company for the full year. PuriCore continues to successfully shift the business toward a lease versus capital sales model and expects this to continue in 2010.
Greg Bosch, Chief Executive of PuriCore, said:
"The continued market adoption of our Sterilox Food Safety Systems is further evidenced by the recent contract awards from two additional leading customers, including another top-10 retailer. The acquisition of Labcaire positions PuriCore as the leading provider of endoscope reprocessing products and services for our UK customers with a broad portfolio, and we look to expand our marketing of Labcaire products internationally in 2010."
Enquiries:
| Ben Brewerton Susan Quigley Financial Dynamics +44 (0) 20 7831 3113 | Greg Bosch, CEO Darren Weiss, CFO PuriCore +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 C.difficile, E.coli, HIV, Human and Animal Influenza (including H1N1 and H5N1), Legionella, MRSA, M.tuberculosis, Norovirus, and Salmonella. PuriCore is headquartered in Malvern, Pennsylvania, with offices in Stafford and Clevedon, 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.