American Bio Medica Announces Record September Sales; Monthly Sales Represent 44% of Total First Quarter Fiscal 1999 Sales.HUDSON, N.Y.--(BUSINESS WIRE)--Oct. 5, 1998--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 had another record month with September sales of $572,000 representing 44% of total first quarter fiscal 1999 sales. The Company primarily attributed the sales growth to its entire distribution network which has been steadily increasing overall worldwide market presence and thereby generating record orders. The sales increase was also attributed to the Company's internal sales team's success in opening the domestic corrections market to the ABMC Rapid Drug Screen family of on-site drugs of abuse tests. Company President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Stan Cipkowski explained, "I believe the sales growth over the past four quarters is not only a result of our distributors and internal sales force, but also directly proportional to our efficient and integrated operations. I am pleased to see a high commitment level from our distribution network and am confident that it will continue to grow the Company in a positive direction with superior customer support, higher sales, and improved shareholder value." The Company also reported that it is holding an international sales and training meeting this week with its entire distribution network at the ABMC sales and marketing headquarters in Boca Raton, Florida Boca Raton ("bōkə rə-tōn") is a city in Palm Beach County, Florida incorporated in May 1925. As of the 2000 census, the city had a total population of 74,764; the 2006 population recorded by the U.S. Census Bureau was 86,396. . The meeting will include an extensive review of current competition in the field. Explanations will also be presented regarding the latest product enhancements, such as the new Fahrenheit and Celsius strip, and the new single drug and low volume product variations. American Bio Medica Corporation develops, manufactures, and markets inexpensive, accurate, on-site drugs of abuse diagnostic kits 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 to substance abuse testing markets worldwide. The Company's global distributors target the workplace, clinical, rehabilitation, physicians, corrections, and educational markets. ABMC's Rapid Drug Screen is proven to correlate 100% with the standard laboratory screening test. 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, the Company's dependence on third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion