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This excerpt taken from the MTOX 8-K filed Jul 18, 2007. SECOND QUARTER AND YEAR-TO-DATE NET INCOME
ST. PAUL, Minn., July 17, 2007 MEDTOX Scientific, Inc. (Nasdaq:MTOX) announced today results for the second quarter ended June 30, 2007. For the six-month period, revenues increased to $39,802,000, compared to $33,749,000, or 17.9%, from the prior-year period. Operating income increased to $5,080,000, compared to $3,875,000, or 31.1%, from the prior-year period. The Company recorded net income of $3,316,000, or $0.37 per diluted share, compared to net income of $2,036,000, or $0.23 per diluted share, or a 62.9% increase in net income from the comparable period last year. Gross margin was 46.0% compared to 44.1% for the comparable period last year. For the three-month period ended June 30, 2007, revenues increased to $20,776,000, compared to $17,399,000, or 19.4%, from the prior-year period. Operating income increased to $2,660,000, compared to $2,325,000, or 14.4%, from the comparable period last year. Net income increased to $1,761,000, or $0.20 per diluted share, compared to net income of $1,282,000, or $0.15 per diluted share, or a 37.4% increase in net income from the comparable period last year. Gross margin was 46.1% compared to 44.5% for the comparable period last year. New account activity was strong in the quarter which resulted in record revenues, operating income, pre-tax income and net income for the quarter and year-to-date. Sales in the Diagnostic Segment increased 24.5% for the quarter. A significant contributor to this growth was the placement of an additional 100 MEDTOXScan® Readers with hospital clients during the quarter. The strong sales activity provides significant momentum as the Company enters the second half of 2007.
MEDTOX Scientific, Inc. July 17, 2007 Page 2
MEDTOX will hold a teleconference to discuss second quarter 2007 results today at 9:30 a.m. Central Time (10:30 a.m. Eastern). To access the teleconference, dial (800) 289-0726 ten minutes before the scheduled start time. International callers may access the call by dialing (913) 981-5545. Callers should ask for the MEDTOX quarterly conference call, hosted by Dick Braun, president and CEO of MEDTOX. A simultaneous webcast of the conference call will be available on the MEDTOX website in the investors section at www.medtox.com. An audio replay of the conference call will be available through July 24 at (888) 203-1112 conference ID # 8104673. International callers may access the replay at (719) 457-0820 with the same conference ID # 8104673. MEDTOX Scientific, Inc., headquartered in St. Paul, Minn., is a provider of high quality specialized laboratory testing services and on-site/point-of-collection (POC) devices. The company also supports customers with complete logistics, data and program management services. MEDTOX is a leader in providing esoteric laboratory testing services to hospitals and laboratories nationwide. This includes both central laboratory and bio-analytical testing for pharmaceutical clinical trials. MEDTOX develops and manufactures diagnostic devices for quick and economical on-site/point-of-collection analysis for drugs-of-abuse, therapeutic drugs and biological and agricultural toxins and provides employment drug screening and occupational health testing. For more information see www.medtox.com.
Note: Forward-looking statements contained in this press release are made under the Private Securities Reform Act of 1995. Actual results may differ due to a number of factors including a change in the employment pattern of client companies, the ability of MEDTOX to acquire new business, and changes in the competitive environment. Further discussions of factors that may cause such results to differ are identified in the Company's 2006 Annual Report on Form 10-K.
MEDTOX Scientific, Inc. July 17, 2007 Page 3 This excerpt taken from the MTOX 8-K filed Jul 18, 2006. SECOND QUARTER AND YEAR-TO-DATE NET INCOME
ST. PAUL, July 17, 2006 MEDTOX Scientific, Inc. (Nasdaq:MTOX) announced today results for the second quarter ended June 30, 2006. For the six-month period, revenues increased to $33,749,000, compared to $31,534,000, or 7.0%, from the prior-year period. Operating income increased to $3,875,000 compared to $2,962,000, or 30.8%, from the prior-year period. The Company recorded net income of $2,036,000, or $0.23 per diluted share, compared to net income of $1,436,000, or $0.18 per diluted share, or a 41.8% increase in net income from the comparable period last year. For the three-month period ended June 30, 2006, revenues increased to $17,399,000 compared to $16,845,000, or 3.3%, from the prior-year period. Operating income increased to $2,325,000 compared to $1,950,000, or 19.2%, from the comparable period last year. Net income increased to $1,282,000, or $0.15 per diluted share, compared to net income of $1,015,000, or $0.13 per diluted share, or a 26.3% increase in net income from the comparable period last year. Overall, expenses for the quarter were in line with expectations. Total operating expenses were 31.1% of revenues for the quarter compared to 32.9% for the comparable period last year. Total operating expenses were 32.6% year-to-date compared to 33.2% for the comparable period last year. Gross margin for the quarter was 44.5% compared to 44.4% for the comparable period last year. Gross margin year-to-date was 44.1% compared to 42.6% for the comparable period last year.
MEDTOX Scientific, Inc. July 17, 2006 Page 2
Although there was a reduction in hiring activity by existing clients in the second quarter, the new account activity was strong which resulted in record revenues, operating income, pre-tax income and net income for the quarter. The Company has implemented a number of initiatives to compensate for lower activity from existing clients that it believes will have a positive benefit in the second half of 2006. These initiatives will be discussed during the Companys teleconference to be held this morning. MEDTOX will hold a teleconference to discuss second quarter 2006 results today at 9:30 a.m. Central Time (10:30 a.m. Eastern). Dialing 877-421-3959 a few minutes prior to the scheduled start time on July 17 will access a listen-only broadcast of the teleconference. International callers may access the call by dialing 706-634-5527. Callers should ask for the MEDTOX quarterly conference call, hosted by Dick Braun, president and CEO of MEDTOX. A simultaneous webcast of the conference call will be available on the MEDTOX website in the investors section at www.medtox.com. An audio replay of the conference call will be available through July 24 at 800-642-1687 conference ID # 2234420. International callers may access the replay at 706-645-9291 with the same conference ID # 2234420. MEDTOX Scientific, Inc., headquartered in St. Paul, Minn., is a provider of high quality specialized laboratory testing services and on-site/point-of-collection (POC) devices. The company also supports customers with complete logistics, data and program management services. MEDTOX is a leader in providing esoteric laboratory testing services to hospitals and laboratories nationwide. This includes both central laboratory and bio-analytical testing for pharmaceutical clinical trials. MEDTOX develops and manufactures diagnostic devices for quick and economical on-site/point-of-collection analysis for drugs-of-abuse, therapeutic drugs and biological and agricultural toxins and provides employment drug screening and occupational health testing. For more information see www.medtox.com.
Note: Forward-looking statements contained in this press release are made under the Private Securities Reform Act of 1995. Actual results may differ due to a number of factors including a change in the employment pattern of client companies, the ability of MEDTOX to acquire new business, and changes in the competitive environment. Further discussions of factors that may cause such results to differ are identified in the Company's 2005 Annual Report on Form 10-K.
MEDTOX Scientific, Inc. July 17, 2006 Page 3
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