Veridien Third Quarter Revenues Increase by 69% over Same Period Last Year.ST. PETERSBURG, Fla. -- Veridien Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :VRDE VRDE Vehicle Research and Development Establishment (India) ) announces revenue of $685,985 for the third quarter of 2004, up 69% over sales of $406,192 during the third quarter of 2003. Third quarter General, Selling and Administrative expenses decreased by 40% to $208,715 as compared to third quarter 2003. As a percentage of sales these expenses represent only 30%, down from the level of 85% during third quarter last year. Net Income year to date is $321,743, a net improvement of $668,526 over the loss of $346,783 at the same point during the last fiscal year. Veridien continues to build upon its existing relationships and build new ones with strategic partners in both the distribution and manufacturing arenas. Shelley Fenton, 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. and President, said, "For the first time in reported history, Veridien has emerged from a third quarter with a profit on the bottom line for the 9 month year-to-date figures, as well as being operationally profitable. We are pleased with the direction and growth in our profitability and relationships forged to generate increased sales." About Veridien: Veridien Corporation is a Health Care and Anti-Infectives Company focusing on Infection Control and other Healthy Lifestyle products. Veridien has developed patented and unique products including surface disinfectants, antiseptic hand cleansers, instrument presoak pre·soak tr.v. pre·soaked, pre·soak·ing, pre·soaks To soak (laundry) before washing. n. 1. The act or an instance of presoaking. 2. A liquid preparation in which laundry is presoaked. , and sun protectant protectant /pro·tec·tant/ (pro-tek´tant) protective. protectant, protective 1. affording defense or immunity. 2. an agent affording defense against harmful influence. products. The flagship product, Viraguard(R) Hospital Disinfectant/Cleaner and Instrument Presoak is a skin-friendly, patented, U.S. EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. and Health Canada registered, surface disinfectant. Viraguard(R) Antiseptic Hand Gel, Viraguard(R) Antiseptic Hand Spray and Viraguard(R) Antiseptic Hand Wipes are U.S. - FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. and Health Canada drug listed products utilizing Veridien's patented Virahol(R) formulation. About Veridien's investment in future technology: Veridien is developing new patented products in concert with Mycosol, Inc., a company in which Veridien has invested and has the right to acquire majority ownership interest. Mycosol is a development-stage chemical and pharmaceutical company based in the Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. area of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. . The Company is developing a proprietary, low cost platform technology with the objective being to safely and effectively treat and prevent microbial-induced and microbial-exacerbated problems. Mycosol's proprietary multi-active compound has demonstrated potent anti-mold, anti-fungal, anti-bacterial, anti-inflammatory, and anti-allergic properties. Based on this "core technology" platform, a library of over 1,500 known analogs and 5 patents pending, Mycosol believes that a broad portfolio of products can be developed for many medical, industrial, veterinary and agricultural applications. Look for Veridien at http://veridien.com Look for Mycosol at http://www.mycosol.com Special Note: Forward-looking statements in this press release (identifiable by words such as "believes") are made pursuant to the "safe-harbor" 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 risks and uncertainties, including without limitation, market acceptance of, and demand for, the Company's products, manufacturing, development and distributor issues, product pricing, competition, funding availability, technological changes and other risks not identified herein. The Company disclaims any intent or obligation to update any forward-looking statements. "Healthy Living is an Adventure - Let Veridien Guide You" |
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