NEWS: MEDITE Cancer Diagnostics, Inc. (OTCQB:MDIT / OTCMKTS:MDIT) specializing in the development, manufacturing, and marketing of molecular biomarkers and premium medical devices for detection, risk assessment and diagnosis of cancer and precancerous conditions announces its third quarter and nine month 2015 results.
The Company reports $2.7 million of revenues and an operating profit of $132,000 for the third quarter. For the nine months ended September 30, 2015, revenues were $7.1 million with an operating loss of $58,000. Comparability between the third quarters and nine month periods ending 2015 and 2014 must consider the dollar’s 18 percent appreciation during the latter part of 2014 and 2015, along with the exclusion of $358,000 premerger expenses in the 2014 first quarter related to CytoCore, Inc. Approximately 85 percent of the Company’s revenues invoiced in Euro currency are generated by the European subsidiaries and were up approximately 5 percent for the nine month period.
Introduction of innovative new products and significant growth in new markets, such as China and Latin America, have resulted in a record for year-end orders. Third quarter orders were up 75 percent compared to last year.
“We expect the upside trend to continue in 2016 as MEDITE benefits from new worldwide histology and cytology product introductions, recent Chinese FDA approvals for histology products and expected Chinese FDA approval for cytology products,” stated CEO Michaela Ott.
About MEDITE Cancer Diagnostics, Inc.:
MEDITE Cancer Diagnostics, Inc. is a Delaware registered company consisting of wholly-own MEDITE GmbH a Germany-based company with its subsidiaries. On April 3, 2014, MEDITE was acquired by former CytoCore, Inc. a biomolecular diagnostics company engaged in the design, development, and commercialization of cost-effective cancer screening systems and Biomarkers to assist in the early detection of cancer. By acquiring MEDITE the company changed from solely research operations to an operating company with a well-developed infrastructure, 71 employees in four countries, a distribution network to about 70 countries worldwide, a well-known and established brand name and a wide range of products for anatomic pathology, histology and cytology laboratories.
For more information please visit: http://www.medite-group.com/.
REF: OTCMKTS:MDIT / OTC:MDIT
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