To: LPS5 who wrote (8193 ) 9/6/2001 1:13:23 PM From: Sir Auric Goldfinger Respond to of 19428 Medi-Hut Announces Third Quarter Results 2001-09-06 13:07 (New York) Business Editors/Health & Medical Writers BIOWIRE2K LAKEWOOD, N.J.--(BW HealthWire)--Sept. 6, 2001--Medi-Hut Co., Inc. (NasdaqSC:MHUT) announces that it has closed its third quarter 2001 (ending July 31, 2001) with sales of $2,771,376 and with a nine month total sales of $7,285,362 compared to combined sales of $5,470,566 for the year 2000. This represents a 33% increase in sales for the nine months 2001 compared to year 2000. Medi-Hut reports a pre-tax profit for the nine months fiscal year 2001 of $563,805 or $0.03 after tax earnings per common share compared to $316,703 or $0.02 after tax earnings per common share for the nine months fiscal year 2000 which represents a 78% increase from fiscal year 2000. "The Company is progressing solidly in accordance with its financial plan" said Joseph A. Sanpietro, President and Chief Executive Officer of Medi-Hut. "The financial strength the Company has demonstrated during the past quarter and nine months of this fiscal year bodes well for its continued success," he added. During the third quarter, Medi-Hut witnessed the following accomplishments: -- The company was approved and began trading on the Nasdaq Composite. -- Expanded its TRU-Choice line to include 6 new generic tablets and 14 new liquids effectively bringing the total product line to 39. -- Continued its series of presentations to financial and healthcare professionals in various cities. More recently in the beginning of the fourth quarter, the company has achieved the following: -- Completion and approval of the 3cc LL (Interchangeable Needle) Tip Syringe molds. Production has commenced at Medi-Hut International (Mfg) Co. Ltd in Korea. -- Bond-Brown Sales Design consultants have been hired to provide consulting for marketing of the Elite Brand Safety Syringe Medi-Hut Co., Inc. was founded in 1982 and began trading publicly in February 1998. The company private labels and markets there own "Elite" brand insulin syringes, condoms, alcohol preps and hot and cold packs, etc. as well as there TRU- Choice brand of OTC Drug Products. Medi-Hut Co., Inc. manufactures its own Elite brand anti-stick safety syringe that incorporates a transparent sleeve into which the needle automatically retracts after use. Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results --30--AD/ph* CONTACT: Medi-Hut Co., Inc. Joseph A. Sanpietro, 732/901-0606 or Brokers and Analysts contact: Columbia Financial Group, 888/301-6271 KEYWORD: NEW JERSEY INDUSTRY KEYWORD: BIOTECHNOLOGY MEDICAL MEDICAL DEVICES PHARMACEUTICAL EARNINGS SOURCE: Medi-Hut Co., Inc. Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com