Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : American Bio Medica (ABMC) drug test solution -taking off! -- Ignore unavailable to you. Want to Upgrade?

To: John Anderfuren who wrote (548)	9/2/1999 11:23:00 AM
From: Skywatcher	Respond to of 629

American Bio Medica Posts 63% Sales Increase in the First Quarter Fiscal 2000 With Considerable Move Towards Profitability HUDSON, N.Y.--(BUSINESS WIRE)--Sept. 2, 1999--American Bio Medica Corp. (NASDAQ: ABMC - news) today announced the unaudited results for the three months ended July 31, 1999. Net income improved to $(27,000), or $(0.01) per share, for the first quarter fiscal 2000 as compared to $(276,000), or $(0.03) per share, for the comparable period last year on a 63% rise in sales to $2,127,000 for the three months ended July 31, 1999. The Company said the net loss improvement was primarily due to increased sales and a decrease in selling, general, and administrative expenditures. ''I am extremely pleased to announce our significant move towards profitability during the first quarter of this fiscal year,'' said Stan Cipkowski, chief executive officer and chairman of American Bio Medica. ''As we continue to improve manufacturing and further reduce general and administrative expenses, which fell 37% this quarter as a percentage of sales, we should move closer towards profitability during the current fiscal year.'' As of July 31, 1999, the Company had $2,296,000 in working capital, $4,302,000 in total assets, and total stockholders' equity of $2,902,000. The Company said its primary short-term needs are to increase its manufacturing capabilities, decrease current inventory levels, and continue to support its research and development plans. ABMC presently intends to expend approximately $300,000 for the expansion and development of its manufacturing facilities as well as its marketing and general administrative programs. Starting to make it to the land of BLACK!~ biz.yahoo.com chris

To: John Anderfuren who wrote (548)	9/2/1999 12:33:00 PM
From: Skywatcher	Respond to of 629

During the three months ended July 31, 1999, the Company continued its extensive program to market and distribute its primary product, the Rapid Drug Screen(TM). As a result, revenues from the sale of the test kits were $2,031,000 for the three months ended July 31, 1999 as compared to $1,165,000 for the three months ended July 31, 1998, representing an increase of $866,000 or 74.3% over the preceding year. With respect to drug test kits, cost of goods sold for the three months ended July 31, 1999 was $1,061,000 or 52.2% of drug test revenues as compared to $487,000 or 41.8% of drug test revenues for the three months ended July 31, 1998. In an effort to lower this cost, the Company has undertaken an extensive cost reduction program aimed specifically at its in-place production process and expects further savings in the coming year. It is expected that with the commencement of its in-house manufacturing of drug test strips, that further significant savings can be achieved. chris

To: John Anderfuren who wrote (548)	9/9/1999 1:07:00 PM
From: Skywatcher	Read Replies (1) \| Respond to of 629

American Bio Medica Strengthens Position in Educational Drug Testing Market With New Resource Website for Schools HUDSON, N.Y.--(BUSINESS WIRE)--Sept. 9, 1999--American Bio Medica Corp. (NASDAQ: ABMC - news) today announced that it launched a resource website at www.drugfreeschools.com to assist schools in developing and implementing effective drug testing initiatives. In addition to providing valuable information on starting a drug testing program as well as the legal issues regarding the topic, the www.drugfreeschools.com site also informs school administrators about the common illegal drugs used by children, pertinent teen drug use statistics, and the links between violence and drug use. ''We are extremely pleased to introduce the first resource-based site that supports schools' efforts to initiate drug testing programs,'' stated ABMC Chairman and CEO Stan Cipkowski. ''We are dedicated to building strong partnerships with schools that are committed to establishing drug free environments.'' The Company explained that its marketing efforts in the educational sector are focused on forging relationships whereby ABMC can help schools initiate substance abuse testing programs. This strategy is crucial given that many school administrators are encouraged by the successful results of school drug testing campaigns across the country though still hesitant to establish such initiatives without a knowledgeable partner. Cipkowski noted that the new resource website is the next step in ABMC's plan to provide the detailed support demanded by the educational drug testing market. Earlier this year, the Company sponsored a nationwide series of conferences to educate schools regarding effective substance abuse screening programs. Based on the positive response to these conferences, ABMC said it intends to schedule additional seminars in the near future. American Bio Medica Corporation develops, manufactures, and markets inexpensive, accurate, on-site drugs of abuse diagnostic kits and support services worldwide. The Company's global distributors target the workplace, clinical, rehabilitation, physicians, corrections, and educational markets. ABMC's Rapid Drug Screen(TM) is proven to correlate 100% with the standard laboratory screening test. chris