ADVANCED MEDICAL COMMENTS ON VOLATILITY IN STOCK PRICE
ADVANCED MEDICAL COMMENTS ON VOLATILITY IN STOCK PRICE SAN DIEGO, July 9 /PRNewswire/ -- Advanced Medical, Inc.
(AMEX: AMA), today announced that it has no explanation for the volatility in its stock price over the past few weeks.
Preliminary sales figures for the second quarter at its operating subsidiary, Imed Corp., increased by $1 million from $31.7 million in 1991 to $32.7 million in 1992. On a comparable basis, after taking into account the sale of Imed's European distribution business to Kabi Pharmacia in November 1991, sales would have been increased for the same comparable quarters by $2.9 million or 9 percent. In addition, Imed itself has generated sufficient cash to pay down $10 million of its term loan and its entire $13 million of subordinated debt during the past 15 months. Final second quarter results will be available in about 30 days. -0- 7/8/92 /CONTACT: Stanley S. Anders of Advanced Medical, 619-566-0426/ (AMA) CO: Advanced Medical, Inc. ST: California IN: MTC SU:
LD-GK -- NY004 -- 7689 07/09/92 08:01 EDT
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|Date:||Jul 9, 1992|
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