Alcide Corp. Announces Financial Results for Fiscal Year 1998 First Quarter Ended Aug. 31, 1997.REDMOND, Wash.--(BUSINESS WIRE)--Sept. 16, 1997--Alcide Corp. (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 :ALCD ALCD Association of Law Costs Draftsmen ALCD Analogue Libraries on Low-Cost CMOS Digital Process (ESPRIT Project 8030) ) today announced record net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight and record net income for its fiscal first quarter. -0-
Quarter Ended
Aug. 31, 1997 Aug. 31, 1996
Net Sales $ 3,192,396 $ 2,042,222
Net Income $ 723,050 $ 376,296
Average Shares Outstanding 2,832,499 2,803,276
Earnings Per Share $ .26 $ .13
Net sales for the three month period of $3,192,396 were 56% higher than first quarter sales last year. Net income of $723,050 was 92% higher than the corresponding quarter a year ago. Joseph A. Sasenick, president and chief executive officer, commented that, "The sales increase was driven by a 20% increase in Alcide's established udder udder: see mammary gland. care and surface disinfectant businesses, coupled with sales to Novus International Inc. to support commercial plant testing of Alcide's Sanova(TM) antimicrobial intervention for poultry processing plants." With respect to commercial plant testing and planned USDA USDA, n.pr See United States Department of Agriculture. approval of Sanova, Sasenick noted that, "The commercial trials are expected to end this week and Sanova is meeting our expectations. The six week testing data from four commercial plants is being summarized and will be submitted to the United States Department of Agriculture United States Department of Agriculture (USDA), n.pr established in 1862, USDA is responsible for the safety of meat, poultry, and egg products. It conducts ongoing research in areas from human nutrition to new crop technologies and also helps ensure open in early October for review. We are looking forward to the introduction of Sanova following the necessary USDA approval." Alcide Corp. develops and markets unique biocidal bi·o·cid·al adj. Of or relating to an agent that is destructive to living organisms. biocidal (bī´ōsī´d products based on its patented technology. Alcide currently sells anti-infective products to the animal health market and disinfecting products to the medical industries. The company intends to broaden its business base through regulatory approval and market introduction of antimicrobials for controlling food borne pathogens. -0- This earnings report includes forward looking statements which involve risk and uncertainty including, without limitation, risk of dependence on third party suppliers, market acceptance of and demand for the company's products, distribution capabilities, development of technology and regulatory approval thereof. CONTACT: Alcide Corp. John Richards, 425/882-2555 |
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