Alcide Corporation Announces Financial Results For Fiscal Year 2001 Third Quarter and Nine Months Ended February 28, 2001.Business Editors, Health/Medical Writers BIOWIRE2K REDMOND, Wash.--(BW HealthWire)--April 2, 2001 Alcide Corporation (Nasdaq:ALCD ALCD - Analogue Libraries on Low-Cost CMOS Digital Process (ESPRIT Project 8030) ALCD - Association of Law Costs Draftsmen) today announced net sales and earnings for its fiscal third quarter and for the nine month period which ended February 28, 2001. Net sales of $4,158,786 for the quarter and $13,097,993 for the nine month period ending February 28, 2001 were 45% and 54% higher than for the respective periods last year. Sales of SANOVA(R) food antimicrobial to the poultry industry totaled $2,277,201 for the quarter, an increase of $1,281,680 compared to the fiscal third quarter last year, and $345,607, 18% higher than this year's second quarter sales, as this new Alcide business continued to expand rapidly. Twenty-seven plants, processing approximately 4.7 billion pounds of poultry annually and representing roughly 15% of the total U.S. chicken market, are utilizing the SANOVA System to improve the quality of their product. Alcide has agreements for future installations at five plants, bringing the total to 32 poultry plants under contract. SANOVA sales for the nine month period ended February 28, 2001 were $5,946,177, an increase of $3,617,493 compared to the equivalent nine month period last year. During the quarter Alcide began to commercialize SANOVA in the red meat industry. One plant is fully operational and using SANOVA to disinfect beef carcasses. In addition, the Company has reached agreement with two beef customers for installation of SANOVA Systems to disinfect beef parts/trim prior to grinding. Installations are scheduled to begin late this fiscal year. John Richards, President of the Company's Food Safety subsidiary, commented that, "We are very excited about the prospects for expansion of the food safety business. Successful resolution of the labeling issue with USDA for ground beef has generated a very significant interest for SANOVA in the red meat industry. This, coupled with last week's EPA approval for SANOVA use on intact fruits and vegetables, presents an exciting opportunity to add momentum to the Company's growing SANOVA business next fiscal year." Richards went on to say that, "SANOVA is now the most broadly registered and fastest growing antimicrobial intervention in the U.S. food industries. We expect additional approvals within the next few months for use of SANOVA on sausage and comminuted comminuted /com·mi·nut·ed/ (kom´in-ldbomact?id) broken or crushed into small pieces, as a comminuted fracture. com·mi·nut·ed (k m meats and for use on
poultry post-chill."The Company's animal health and surface disinfectant sales for the quarter ended February 28, 2001 were $1,881,585, essentially the same as the $1,879,542 for the equivalent quarter last year. Nine month sales of animal health and surface disinfectant products were $7,151,816, $970,218, 16% higher than the equivalent nine month period last year. President and Chief Executive Officer, Joseph A. Sasenick, noted that, "The acquisition of Universal Marketing Services, Inc., our largest distributor, places Alcide in a stronger position to control the growth and profitability of our animal health product line. We are also pleased to have Jim Winter, our long term distribution partner, join Alcide as Vice President and General Manager of our animal health business. Jim is a highly regarded expert in this field and, in 1988 while at ABS Global, Inc., was responsible for the launch of UDDERgold. With Jim's leadership we are now finalizing the negotiation of a distribution arrangement with a prominent animal health company in France." Net income of $251,520 for the quarter and $1,239,432 for the nine month period ended February 28, 2001, reflects the sales growth of the animal health and SANOVA businesses combined with an improvement in SANOVA gross margin. Both the quarter and year-to-date net income reflect the impact of Alcide's decision to reduce its sales to UMS UMS - Ugly Mood Swing UMS - Ulnar-Mammary Syndrome UMS - Ultramain Maintenance System (logistics) UMS - Ultrasonic Motion Sensor UMS - Unattended MASINT Sensors UMS - Underutilized Mediterranean Species UMS - Unified Message Services UMS - Uniform Mark Scale UMS - United Mexican States UMS - United Monolithic Semiconductors GmbH UMS - Unity Management System UMS - Universal Maintenance Stand UMS - Universal Manhood Suffrage by approximately $500,000 prior to acquisition. This reduced UMS inventory by $500,000 and reduced Alcide's net income by approximately $200,000. Alcide Corporation develops and markets unique biocidal bi·o·cid·al (b ![]() ![]() -s d products
based on its patented technology. Alcide currently sells anti-infective
products to the animal health market, disinfecting products to the
medical industries, and SANOVA antimicrobial for controlling food borne
pathogens on poultry, red meat and intact fruits and vegetables.
Quarter Ended Nine Months Ended
------------- -----------------
Feb. 28, Feb. 29, Feb. 28, Feb. 29,
2001 2000 2001 2000
---------- ---------- ----------- ----------
Net Sales $4,158,786 $2,875,063 $13,097,993 $8,510,282
Pretax Income (Loss) $394,851 $(86,979) $1,945,736 $(986,596)
Net Income (Loss) $251,520 $(57,406) $1,239,432 $(651,681)
Average Shares
Outstanding 2,697,522 2,519,974 2,637,877 2,518,495
Diluted Earnings
(Loss) Per Share $.09 $(.02) $.47 $(.26)
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, and development of technology and regulatory approval thereof. |
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