Positive outlook for LUKN from today's press release after the market close:
<Wednesday September 10 4:08 PM EDT
Company Press Release
Lukens' Acquisitions Performing Well
ALBUQUERQUE, N.M.--(BW HealthWire)--Sept. 10, 1997--Lukens Medical Corp. (NASDAQ:LUKN) Wednesday
announced that it has begun production in its newly renovated plant in Cochin, India.
The India facility will supply certain raw materials used by Lukens, as well as hypodermic needles and related products for
sale to the worldwide medical market.
The company also announced a sharp increase in revenues for its recently acquired unit, PRO-TEC Containers Inc. Revenues
for August, the first month after PRO-TEC moved to Lukens' Albuquerque headquarters, were up 25 percent from
pre-acquisition levels, to approximately $110,000. PRO-TEC manufactures and sells containers for the safe disposal of used
needles, blades and other sharp instruments used in medical procedures.
In making the announcement, Robert S. Huffstodt, president and chief executive officer of Lukens, stated, ``I am gratified to
see the India operation begin to make a positive contribution to the overall corporation. We have re-directed the focus of that
venture somewhat, by emphasizing first component manufacturing, rather than finished products.
``However, the ongoing level of savings to Lukens is dramatic, and the components can be sold to other manufacturers on an
OEM basis at less cost than a finished product can be marketed. The early signs from PRO-TEC are even more exciting as we
are finding more and more ways to increase that business.
``Also, the process of integrating PRO-TEC into the Lukens' operation and product line has been as painless as I can
imagine. Our next step is to begin moving these products into some of our international markets, where PRO-TEC never had
a presence.''
John H. Robinson, chairman of Lukens, added, ``The progress we have made in the last four months in closing the
PRO-TEC and Techsynt (Brazil) acquisitions and in bringing the Indian plant on-line is really quite exciting, and confirms
that our strategy of expanding at the same time Lukens' product lines and international presence was correct. We plan to
continue both these activities.''
Lukens Medical Corp., with headquarters in Albuquerque, is a medical device company addressing global markets in sutures,
diagnostics and other disposable products.
NOTE TO EDITORS: ``Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: The statements
which are not historical facts contained in this release are forward looking statements that involve risks and uncertainties,
including, but not limited to, the ability of the company to continue to obtain financing for its activities, the effect of economic
conditions both domestically and internationally, the impact of competition, the ability of joint venture partners and
distributors to sell the company's products, changes in customer preferences and trends and other risks detailed in the
company's Securities and Exchange Commission filings.>
Contact:
Lukens Medical Corp., Albuquerque
Robert S. Huffstodt, 505/342-9638
Toll free: 800/631-0076
Fax: 505/342-9735 |
