ADLI American Medical Technologies Inc (CE)

American Medical Technologies, Inc. (OTCBB:ADLI) reported its financial results for the three and nine months ended September 30, 2006. Those results, compared with results for the same periods in 2005, are as follows: Third-quarter revenues rose sharply, up 51% from a year ago. Net loss per share was cut in half, $0.02 per share for the third quarter of 2006, compared with a $0.04 per share loss for the third quarter last year. Nine month revenues rose 15% over last year. American Medical Technologies reported that revenues for the third quarter 2006 were $768,686, compared to $510,564 for the third quarter 2005. The increase in quarterly revenues included stronger sales of the company�s products boosted by domestic and international marketing efforts led by Judd Hoffman, Vice President of Worldwide Sales. In addition, the company experienced favorable results from sales of Spectrum Dental whitening products. In April 2006, American Medical Technologies, Inc. entered into a 5 year exclusive distribution agreement of the Spectrum Dental product line. Third-quarter net loss was $176,343, or $0.02 per share, compared to a net loss of $320,217 or $0.04 per share for the third quarter of 2005. Higher revenues and continued efforts to remain an efficient operation contributed to lower losses in the quarter. For the first nine months of 2006, revenues were $1.85 million, versus $1.60 million for the first nine months of 2005. Net loss for the first nine months was $1.39 million, or $0.17 per share, compared with a net loss of $874,286, or $0.11 per share in 2005. The increase was primarily due to a one-time $410,000 settlement, or $0.05 per share and increased marketing costs. �The third quarter results demonstrate the success of our marketing program which is just starting to take effect. We believe our dental products provide dentists with the next generation in the growing whitening market, while our patented hydrobrasion dental equipment offers improved patient comfort and greater speed for many common procedures, compared with traditional handpiece drills,� said Roger Dartt, President and Chief Executive Officer of American Medical Technologies. �We are very excited going forward as we initiate our marketing program. We are already seeing strong results, and have plans to bring additional sales force on board and grow our outside distribution network which should add to the strong sales momentum we saw in the third quarter. AMT, headquartered in Corpus Christi, Texas, develops and manufactures advanced technologies in the field of dentistry and markets them worldwide. The company�s securities are quoted on the OTC Bulletin Board under the symbol ADLI, and its website is at www.americanmedicaltech.com. The Company makes forward-looking statements in this press release and in its filings with the Securities and Exchange Commission. The Company�s forward-looking statements are subject to risks and uncertainties and include information about its expectations and possible or assumed future results of operations. When the Company uses any of the words �believes�, �expects�, �anticipates�, �estimates� or similar expressions, it is making forward-looking statements. The Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of its forward-looking statements. While the Company believes that its forward-looking statements are reasonable, you should not place undue reliance on any such forward-looking statements, which speak only as of the date made. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond the Company�s control or are subject to change, actual results could be materially different. Factors that might cause such a difference include, without limitation, the following: the Company�s inability to generate sufficient cash flow to meet its current liabilities, the Company�s potential inability to hire and retain qualified sales and service personnel, the potential for an extended decline in sales, the possible failure of revenues to offset additional costs associated with its change in business model, the potential lack of product acceptance, the Company�s potential inability to introduce new products to the market, the potential failure of customers to meet purchase commitments, the potential loss of customer relationships, the potential failure to receive or maintain necessary regulatory approvals, the extent to which competition may negatively affect prices and sales volumes or necessitate increased sales expenses, and the other risks and uncertainties set forth in this report. Other factors not currently anticipated by management may also materially and adversely affect the Company�s results of operations. Except as required by applicable law, the Company does not undertake any obligation to publicly release any revisions which may be made to any forward-looking statements to reflect events or circumstances occurring after the date of this report. American Medical Technologies,�Inc. Condensed Consolidated Statements of Operations (Unaudited) � Three Months Ended September 30 Nine Months Ended September 30 �2006 2005 2006 2005 � Revenues $ 768,686� $ 510,564� $ 1,846,797� $ 1,601,879� Royalties 7,307� 3,958� 23,716� 90,716� 775,993� 514,522� 1,870,513� 1,692,595� � Cost of sales 371,959� 353,237� 1,031,523� 896,080� Gross profit 404,034� 161,285� 838,990� 796,515� � Selling, general and administrative 614,170� 488,061� 2,207,085� 1,635,356� Research and development 16,617� 54,389� 55,470� 131,248� Loss from operations (226,752) (381,165) (1,423,565) (970,089) � Other income (expenses) Net realized and unrealized gains/(loss) on investments 2,698� (1,964) 9,263� (9,488) Gain on sale of machinery �� 86,062� �� 86,062� Other income 42,202� 641� 84,527� 64,465� Interest expense (16,281) (33,017) (95,645) (78,469) Interest income 21,791� 9,226� 37,432� 33,233� � Net loss available to common stockholders $ (176,343) $ (320,217) $ (1,387,988) $ (874,286) � Basic earnings per common share $ (0.02) $ (0.04) $ (0.17) $ (0.11) � Diluted earnings per common share $ (0.02) $ (0.04) $ (0.17) $ (0.11) American Medical Technologies, Inc. (OTCBB:ADLI) reported its financial results for the three and nine months ended September 30, 2006. Those results, compared with results for the same periods in 2005, are as follows: -- Third-quarter revenues rose sharply, up 51% from a year ago. -- Net loss per share was cut in half, $0.02 per share for the third quarter of 2006, compared with a $0.04 per share loss for the third quarter last year. -- Nine month revenues rose 15% over last year. American Medical Technologies reported that revenues for the third quarter 2006 were $768,686, compared to $510,564 for the third quarter 2005. The increase in quarterly revenues included stronger sales of the company's products boosted by domestic and international marketing efforts led by Judd Hoffman, Vice President of Worldwide Sales. In addition, the company experienced favorable results from sales of Spectrum Dental whitening products. In April 2006, American Medical Technologies, Inc. entered into a 5 year exclusive distribution agreement of the Spectrum Dental product line. Third-quarter net loss was $176,343, or $0.02 per share, compared to a net loss of $320,217 or $0.04 per share for the third quarter of 2005. Higher revenues and continued efforts to remain an efficient operation contributed to lower losses in the quarter. For the first nine months of 2006, revenues were $1.85 million, versus $1.60 million for the first nine months of 2005. Net loss for the first nine months was $1.39 million, or $0.17 per share, compared with a net loss of $874,286, or $0.11 per share in 2005. The increase was primarily due to a one-time $410,000 settlement, or $0.05 per share and increased marketing costs. "The third quarter results demonstrate the success of our marketing program which is just starting to take effect. We believe our dental products provide dentists with the next generation in the growing whitening market, while our patented hydrobrasion dental equipment offers improved patient comfort and greater speed for many common procedures, compared with traditional handpiece drills," said Roger Dartt, President and Chief Executive Officer of American Medical Technologies. "We are very excited going forward as we initiate our marketing program. We are already seeing strong results, and have plans to bring additional sales force on board and grow our outside distribution network which should add to the strong sales momentum we saw in the third quarter. AMT, headquartered in Corpus Christi, Texas, develops and manufactures advanced technologies in the field of dentistry and markets them worldwide. The company's securities are quoted on the OTC Bulletin Board under the symbol ADLI, and its website is at www.americanmedicaltech.com. The Company makes forward-looking statements in this press release and in its filings with the Securities and Exchange Commission. The Company's forward-looking statements are subject to risks and uncertainties and include information about its expectations and possible or assumed future results of operations. When the Company uses any of the words "believes", "expects", "anticipates", "estimates" or similar expressions, it is making forward-looking statements. The Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of its forward-looking statements. While the Company believes that its forward-looking statements are reasonable, you should not place undue reliance on any such forward-looking statements, which speak only as of the date made. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond the Company's control or are subject to change, actual results could be materially different. Factors that might cause such a difference include, without limitation, the following: the Company's inability to generate sufficient cash flow to meet its current liabilities, the Company's potential inability to hire and retain qualified sales and service personnel, the potential for an extended decline in sales, the possible failure of revenues to offset additional costs associated with its change in business model, the potential lack of product acceptance, the Company's potential inability to introduce new products to the market, the potential failure of customers to meet purchase commitments, the potential loss of customer relationships, the potential failure to receive or maintain necessary regulatory approvals, the extent to which competition may negatively affect prices and sales volumes or necessitate increased sales expenses, and the other risks and uncertainties set forth in this report. Other factors not currently anticipated by management may also materially and adversely affect the Company's results of operations. Except as required by applicable law, the Company does not undertake any obligation to publicly release any revisions which may be made to any forward-looking statements to reflect events or circumstances occurring after the date of this report. -0- *T American Medical Technologies, Inc. Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended Nine Months Ended September 30 September 30 ----------------------- -------------------------- 2006 2005 2006 2005 ----------- ----------- ------------- ------------ Revenues $ 768,686 $ 510,564 $ 1,846,797 $ 1,601,879 Royalties 7,307 3,958 23,716 90,716 ----------- ----------- ------------- ------------ 775,993 514,522 1,870,513 1,692,595 Cost of sales 371,959 353,237 1,031,523 896,080 ----------- ----------- ------------- ------------ Gross profit 404,034 161,285 838,990 796,515 Selling, general and administrative 614,170 488,061 2,207,085 1,635,356 Research and development 16,617 54,389 55,470 131,248 ----------- ----------- ------------- ------------ Loss from operations (226,752) (381,165) (1,423,565) (970,089) Other income (expenses) Net realized and unrealized gains/(loss) on investments 2,698 (1,964) 9,263 (9,488) Gain on sale of machinery -- 86,062 -- 86,062 Other income 42,202 641 84,527 64,465 Interest expense (16,281) (33,017) (95,645) (78,469) Interest income 21,791 9,226 37,432 33,233 ----------- ----------- ------------- ------------ Net loss available to common stockholders $ (176,343) $ (320,217) $ (1,387,988) $ (874,286) ----------- ----------- ------------- ------------ Basic earnings per common share $ (0.02) $ (0.04) $ (0.17) $ (0.11) ----------- ----------- ------------- ------------ Diluted earnings per common share $ (0.02) $ (0.04) $ (0.17) $ (0.11) ----------- ----------- ------------- ------------ *T