CDEX Second Quarter Revenue Highest in Company's History
ValiMed Leads the Way
ROCKVILLE, Md.--(BUSINESS WIRE)--June 16, 2006--CDEX, Inc. (OTCBB:CEXI.OB - News) announced today that it recorded the highest quarterly revenue in the history of the company in the fiscal second quarter, ending April 30, 2006. Revenue was $351,038 as compared to $23,860 during the second fiscal quarter of 2005. The increase of $327,177 (or 1,371%) resulted from the delivery of ValiMed (TM) medication verification systems to Baxa Corporation. Baxa represents the CDEX ValiMed product line, exclusively in the USA and Canada.
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During the period from January 2006 through April 2006, CDEX successfully managed its production plan for the ValiMed medication verification system, that included, but was not limited to the following: completing the ValiMed design package; developing a new proprietary cuvette; identifying, qualifying, and setting up contract manufacturers for ValiMed and the new proprietary cuvette; developing new medications and drugs signatures for the ValiMed production units, completing product certification testing and obtaining the TUV mark, and delivering the first production units to Baxa on-time and on-budget.
"The shareholders, management, and staff of CDEX take great pride in what has been accomplished. This achievement represents the culmination of several years of research and development, determination, and perseverance by a lot of very dedicated people to bring ValiMed to market. We are proud of what we have achieved, and awed by the opportunities that are before us. The introduction of ValiMed into the hospital pharmacy market is a significant contribution to society. The ValiMed medication verification system gives clinicians and healthcare professionals a quick, cost effective, and simple tool to further ensure medication safety by verifying that medications are correctly compounded. ValiMed can make a difference to hospital patients by preventing injuries and the loss of life due to medication errors," said Jim Griffin, President and CEO of CDEX, Inc.
About CDEX, Inc.
CDEX Inc. is a technology development company with a current focus on developing and marketing products using chemical detection and validation technologies. At present, CDEX is devoting its resources to two distinct areas: (i) identification of substances of concern (e.g., explosives and illegal drugs for homeland security); and (ii) validation of substances for anti-counterfeiting, brand protection and quality assurance (e.g., validation of prescription medication and detection of counterfeit or sub-par products for brand protection). ValiMed is one line of CDEX products for the healthcare market. CDEX is headquartered in Rockville, Maryland with its research and development laboratory in Tucson, Arizona. For more information, visit www.cdex-inc.com.
Any statements made in this press release which contain information that is not historical are essentially forward-looking. Forward-looking statements can be identified by the use of words such as "expects," "plans," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, the ability of the Company to raise capital to finance the development of its chemical detection products, the effectiveness, profitability and the marketability of those products, the ability of the Company to protect its proprietary information, the establishment of an efficient corporate operating structure as the Company grows and, other risks detailed from time-to-time in our filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statements.
Media Contact:
Brad Wills
Wills & Associates, Inc.
t. 301-767-1919
m. 301-346-7398
bwills@wills-pr.com |
