Printer Friendly
The Free Library
4,489,724 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

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 (km
 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-sd 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.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Apr 2, 2001
Words:808
Previous Article:Qiao Xing Universal Telephone Announces CDMA Interface Capability With Huawei Mobile Switching Center.
Next Article:Fitch Rates NELNET Student Loan Corporation-2 Notes.
Topics:



Related Articles
Alcide Corporation Announces Financial Results For Fiscal Year 2000 First Quarter Ended Aug. 31, 1999.
Alcide Corporation Announces Financial Results For Fiscal Year 2000 Second Quarter and First Half Ended November 30, 1999.
Alcide Corporation Announces Financial Results For Fiscal Year 2000 Third Quarter and Nine Months Ended February 29, 2000.
Alcide Corporation Announces Financial Results For Fiscal Year Ended May 31, 2000.
Alcide Corporation Announces Financial Results; For Fiscal Year 2001, Second Quarter and First Half Ended November 30, 2000.
Alcide Corporation Announces Acquisition of Distributor's Inventory and Intangible Assets Effective February 1, 2001.
Alcide Corporation Announces Financial Results for Fiscal Year and Quarter Ended May 31, 2001.
Alcide Corporation Announces Financial Results For Fiscal Year 2002 First Quarter Ended August 31, 2001.
Alcide Corporation Announces Financial Results For Fiscal Year 2002 Second Quarter and First Half Ended November 30, 2001.
Alcide Corporation Announces Financial Results For Fiscal Year 2002 Third Quarter and Nine Months Ended February 28, 2002.

Terms of use | Copyright © 2008 Farlex, Inc. | Feedback | For webmasters | Submit articles