Repro-Med Announces Year End Results
20 Juin 2006 - 4:00PM
PR Newswire (US)
CHESTER, N.Y., June 20 /PRNewswire-FirstCall/ -- Repro-Med Systems,
Inc. (OTC:REPR.OB) (BULLETIN BOARD: REPR.OB) , a developer and
manufacturer of portable medical devices for emergency respiratory
applications and ambulatory infusion therapy, today announced
results for the fiscal year ended February 28, 2006. Total sales
increased almost 12% for the year ended February 28, 2006 to
$1,745,806 from $1,560,220 in 2005, while the net loss for the year
ended February 28, 2006 was lowered by 54% to $217,815, (including
$88,550 in stock- based compensation and $79,089 in depreciation
and amortization), as compared to the previous years loss of
$400,892 (which included stock-based compensation of $74,800 and
depreciation and amortization of $81,818). SG&A decreased
$7,837 year over year from $992,468 to $984,631, while R&D
expenses decreased slightly by $2,212 from $44,029 to $41,817 in
2006. "These results show that as we expanded our sales and
marketing efforts for our two core product lines, the RES-Q-VAC(R)
and the FREEDOM 60(R), we kept our belts tightened while still
maintaining our focus on the long-term growth of the Company. These
efforts have not only contributed to our growth and move towards
profitability in the past year, but they have also produced an
increase in new RES-Q-VAC(R) customers and new FREEDOM60(R) users.
We expect to continue to grow our new customer base in the coming
year and, as with the Full Stop Protection(R) filter, (which
protects the users from any contamination from overflow and traps
all pathogens inside the suction container), we intend to continue
to enhance our products to add value to the franchise", said Andy
Sealfon, President of Repro-Med. The Company has filed its Annual
Report on Form 10-K for the fiscal year ended February 28, 2006.
About Repro-Med RES-Q-VAC is currently a market leader for suction
instruments, providing a complete suction system designed to remove
fluids from a patient's airway. As the RES-Q-VAC consists of a
hand-held, human powered portable suction pump, it provides its
benefits in many markets, being particularly effective in emergency
settings. The proprietary design and disposable features of the
RES-Q-VAC eliminate the risk of contaminating the health care
provider when suctioning a patient or during post treatment
cleanup. The product is particularly suited for emergency providers
and vehicles, hospitals and as backup support for powered suction
systems. The FREEDOM60 Syringe Infusion Pump provides a portable,
high quality, self powered, maintenance free delivery system for
ambulatory and infusion pain control applications, delivering
precise infusion rates and uniform flow profiles that provides
consistent transfer of medication. The FREEDOM60 is an easy-to-use
lightweight mechanical pump providing a low-cost, effective
alternative to electronic and expensive disposable IV
administration devices for the home care, nursing home and
emergency patient transportation market. Forward Looking Statements
Statements in this press release may contain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements, other than statements of
historical facts, may be forward- looking statements. These
statements are based on management's current expectations and are
subject to uncertainty and changes in circumstances. These
statements involve risks and uncertainties that could cause actual
results to differ materially from those included in forward-looking
statements due to a variety of factors. More information about
these factors can be found in Repro-Med's latest Annual Report
filed with Securities and Exchange Commission on Form 10-KSB. The
company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Contact: Repro-Med, Inc., Andrew
Sealfon, (845) 469-2042 DATASOURCE: Repro-Med Systems, Inc.
CONTACT: Andrew Sealfon of Repro-Med Systems, Inc., +1-845-469-2042
Web site: http://www.repro-med.com/
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