ABMC Further Expands Corrections Business Base.Business Editors KINDERHOOK, N.Y.--(BUSINESS WIRE)--Feb. 11, 2002 Key Accounts in Texas and Oklahoma Broaden Drug Test Manufacturer's Presence in Expanding Corrections and Law Enforcement Markets American Bio Medica medica (māˑ·dē·k Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ABMC ABMC American Battle Monuments Commission ABMC Alexian Brothers Medical Center (Illinois) ABMC Aviation Battle Management Concept ABMC Arrowbear Music Camp (California) ) today announced that it has added two new corrections accounts that further expand its growing presence in the law enforcement market. ABMC has won a contract to provide non-instrumented device testing to the Western District of Texas Probation Office. The company has also begun providing drug testing resources to the Office for Juvenile Affairs in the State of Oklahoma. According to ABMC president and chief executive officer Gerald Moore, this new business will account for more than $120,000 in billing for ABMC in fiscal year 2002. "We continue to make positive in-roads in the corrections markets, which will positively affect the company's strategic position this year," said Moore. "Within the past six months, we have realized exponential growth Extremely fast growth. On a chart, the line curves up rather than being straight. Contrast with linear. in accounts that involve probation, parole, corrections, juvenile and other law enforcement organizations." Both of these new accounts are ordering ABMC' Rapid Drug Screen(R). The Texas Probation Office is primarily ordering ABMC's three and four-panel versions of the patented technology, capable of identifying illicit drug illicit drug Street drug, see there use on-site, within minutes after a urine sample is collected. About American Bio Medica Corporation American Bio Medica Corporation develops, manufactures and markets inexpensive, accurate, on-site drugs-of-abuse diagnostic kits, sprays and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services worldwide. The company's global distributors target the workplace, physicians, corrections, clinical, and educational markets. ABMC's Rapid Drug Screen and OralStat6(TM) test for the presence or absence of drugs of abuse in urine and saliva, respectively, while its Drug Detector(TM) identifies minute traces of illegal drugs on surfaces. ABMC was recently listed among the top ten biotechnology companies on the Deloitte & Touche 2001 Technology Fast 500, a ranking of the fastest growing companies in North America. Forward-looking statements in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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