Company Listed Among North America's Fastest-Growing Companies
TUSTIN, Calif., Oct. 24 /PRNewswire-FirstCall/ -- (www.amdl.com) AMDL, Inc. (Amex: ADL), a vertically integrated pharmaceutical company with major operations in China and the US, today announced it has been recognized by Deloitte LLP as the 6th fastest growing Company in Orange County in the prestigious Deloitte Technology Fast 50 Program.
This nationally-recognized program is a ranking by Deloitte LLP of the 50 fastest growing technology, media, telecommunications, and life sciences companies specifically in Orange County and surrounding areas. The company ranked the Top-50 companies based on the highest percentage of revenue growth over five years from 2003-2007. AMDL secured the 6th position by achieving an average 4,100 percent revenue growth during this period. The Company was also recognized earlier this week by the Orange County Business Journal as the #1 fastest-growing public Company in Orange County, achieving over 33,440% revenue growth and more than $26 million in sales in the periods between June 30, 2205 and June 30, 2008.
AMDL's President and CEO Mr. Gary Dreher credits the Company's strong revenue growth to consistent execution on key business initiatives, including the successful marketing, sales, and expanded distribution of high profit products that include the Goodnak(R) anti-aging product line, Domperidone anti-emetic product and various off-label pharmaceuticals. Strong sales of these products have driven AMDL's year-over-year revenue growth by more than 100%, specifically in the past 24 months. The Company has also hit key business milestones over the past 12 months that position the Company for continued growth. This includes success in obtaining regulatory approval by the United States Food and Drug Administration (US FDA) for the AMDL ELISA DR-70(R) (FDP) cancer test.
"Sustaining high revenue growth over five years is an exceptional accomplishment, particularly for an emerging company such as AMDL," said Rob Lucenti, Managing Partner, Orange County Practice, Deloitte & Touche LLP. "We commend AMDL for having shown the strength, vision and tenacity to succeed in today's very competitive life sciences environment and is proud to honor them to Deloitte's Technology Fast 50."
Mr. Gary Dreher, president and CEO of AMDL commented, "Making this list is a tremendous honor for AMDL and a reflection of the hard work and commitment of our China and US-based teams. Our combined efforts have driven the major advancements in our business and subsequently our strong financial performance; and we're focused on continuing the positive path we've paved which includes achieving our targeted sales goal of $26 million in sales in the second half of this year and $38 million for fiscal year 2008."
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2003 and $5,000,000 in 2007, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
This year's Orange County Technology Fast 50 program is sponsored by Cresa Partners, DLD Insurance Brokers, Stradling Yocca Carlson & Rauth, Union Bank of California, Publicease and Oracle, in association with the Technology Council of Southern California. Companies from the regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
Headquartered in Tustin, CA with operations in Shenzhen, Jiangxi, and Jilin, China, AMDL, Inc., along with its subsidiary Jade Pharmaceutical Inc. (JPI), is a vertically integrated bio-pharmaceutical company devoted to the research, development, manufacturing, and marketing of diagnostic, pharmaceutical, nutritional supplement, and cosmetic products. The company employs approximately 320 people in the U.S. and China. The Company has an additional 4 pharmaceutical and diagnostic products under review by various regulatory authorities.
Forward Looking Statements:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward- looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to AMDL, Inc., except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties related to the Company's access to additional capital, competition and dependence on key management.
AMDL Contact: Kristine Szarkowitz Director-Investor Relations firstname.lastname@example.org (Tel:) 206.310.5323
SOURCE AMDL, Inc.