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Biotech / Medical : The Stock for 1999(Polymedica)PLMD(Medical Supply Co.) -- Ignore unavailable to you. Want to Upgrade?

To: Dan O. who wrote (2547)	3/18/1999 10:36:00 AM
From: Abuckatatime	Respond to of 3414

Thursday March 18, 10:08 am Eastern Time Company Press Release PolyMedica Comments On Stock Price Woburn, Mass.--(BUSINESS WIRE)--March 18, 1999--Responding to investor queries regarding the recent decline in the stock price of PolyMedica Corporation (Nasdaq:PLMD - news), Chairman and CEO Steven J. Lee said, ''We are aware of no developments that alter the very positive outlook we have for the remainder of this year and beyond. ''In fact, there have been two recent securities analysts 'Buy' recommendations on our Company. With our book value at $5.92 a share, and having reported the eighth consecutive quarter of profitable growth in January, we can see no reason for the low stock valuation.'' For the first nine months of fiscal 1999, sales rose 42% to $74.3 million from $52.3 million in the prior year period. Net income from continuing operations increased 34% to $4.6 million, or $0.47 per share (diluted), from $3.4 million, or $0.35 per share (diluted), a year earlier. ''Our third quarter performance reflects continuing strong market expansion for direct-to-patient diabetes products and services and for the over-the-counter home healthcare products sold through our nationwide pipeline of drug stores, mass merchandisers and supermarkets.'' Mr. Lee said. PolyMedica is best known through its subsidiaries and product lines. The Company's Liberty Medical Supply, Inc. subsidiary is the leading direct mail provider of diabetes testing supplies to seniors who have Medicare coverage. Liberty offers approximately 200 brand-name products from a full range of manufacturers. The Company's AZO line of products has a 45% share of the over-the-counter female urinary tract discomfort market. PolyMedica also is the leading manufacturer and distributor of private-label digital thermometers and has the number two overall market position in thermometers. For more information, please visit PolyMedica's web site at www.polymedica.com This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, changes in Medicare reimbursement, fluctuations in customer demand, management of rapid growth, intensity of competition from other healthcare product vendors, timing and acceptance of new product introductions, general economic conditions and regulatory changes, as well as other especially relevant risks detailed in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended March 31, 1998, its Quarterly Report on Form 10-Q for the period ended December 31, 1998, and the information set forth herein should be read in light of such risks. The Company assumes no obligation to update the information contained in this press release.