(BSNS WIRE) Emergency Filtration Products Announces 2003 Results
Emergency Filtration Products Announces 2003 Results
Health/Medical Writers / Business Editors
HENDERSON, Nev.--(BUSINESS WIRE)--EMFP--
Emergency Filtration Products Inc. (EFP) (OTCBB: EMFP)
reported that revenues rose 194% to $764,025 for the period ended Dec.
31, 2003, compared to $260,215 for the year ended Dec. 31, 2002. For
the year ended Dec. 31, 2003 and 2002, the company reported net losses
of ($706,455) ($0.03 per share) and ($1,140,667) ($0.08 per share),
respectively.
The rise in revenues was attributable to substantial increases in
U.S. military orders during 2003 due to ongoing international
conflicts throughout the world. The company is also focusing its
marketing and sales efforts on non-military markets, in an effort to
increase revenues in order to attain profitability.
After a number of production delays caused by materials shortages,
product redesign efforts and other factors, the company and its
Taiwanese partner, Weise Labs Inc., have been producing Nano masks and
associated filters as well as actively marketing the NanoMask.
"Production delays associated with producing large volumes of our
NanoMask, along with delays in selecting the best distributors for
this product, caused us to miss our sales targets for 2003," said Doug
Beplate, president, EFP.
"However, we believe our sales efforts will yield substantial
sales contracts in the near future, which will prove that our faith in
NanoMask's sales potential was well founded. Moreover, we are planning
an expansion of our Taiwanese production facility to produce a host of
other EFP products, including: Series One Breathing Circuit Filters,
RespAide CPR Isolation Mask and Vapor Isolation Valve, that will be
sold into Asian and other international markets."
Beplate went on to add, "As a result of these developments and
continuing strong indications of interest in our products from a
number of international medical products distributors, I believe that
EFP is poised to enjoy significant revenue gains in 2004 and beyond."
About Emergency Filtration Products Inc.
EFP is an air filtration products manufacturer whose technology
provides filtration efficiencies of "greater than 99.99% at a particle
size of 0.027 microns." Its initial products were developed for the
medical market: the Vapor Isolation Valve(TM); RespAide -- a CPR mask
used for resuscitation of respiratory/cardiac arrest cases; an A.E.D.
prep kit; and the 2H Breathing Circuit Filter. Each has received FDA
approval. EFP's 2H NanoMask with 27 nanometers filtration capability
relies on the company's core 2H Technology(TM) filtration system,
which utilizes a combination of hydrophobic and hydrophilic filters
able to capture and isolate bacterial and viral microorganisms with
efficiencies of 99.99%. The environmental mask utilizes the company's
patented 2H Technology(TM) and nano-technology to enhance the
capture-and-isolation characteristics of the filter media. In addition
to filtration products, the company also supplies Superstat, a
modified hemostatic collagen, to the medical market and U.S. military
for extreme wound care.
Forward-Looking Statements
This release may contain statements that are forward looking. With
the exception of historical information, the matters discussed in this
news release are "forward-looking statements," as defined in the
Private Securities Litigation Reform Act of 1995, that involve a
number of risks and uncertainties. The actual future results of the
company could differ significantly from those statements.
Specifically, potential future sales for existing products depend on
the execution of sales contacts that have not been consummated. In
addition, the expansion of our production facility and the proposed
sales of additional products may be subject to financing constraints
and the success of planned marketing campaigns. Emergency Filtration
does not undertake to update forward-looking statements in this news
release to reflect actual results of and changes in assumptions or
changes in other factors affecting such forward-looking information.
KEYWORD: INTERNATIONAL ASIA PACIFIC NEVADA
INDUSTRY KEYWORD: MEDICAL DEVICES GOVERNMENT AEROSPACE/DEFENSE EARNINGS
SOURCE: Emergency Filtration Products Inc.
CONTACT INFORMATION:
Emergency Filtration Products Inc., Henderson
Wendy Harper, 702-558-5164
Fax: 702-567-1893
contactus@emergencyfiltration.com
www.emergencyfiltration.com
or
WPH Consultants Ltd.
Investor Relations
Philippe Niemetz
800-477-7570 or 212-344-6464
philippe.niemetz@wphconsultants.com
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