This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

SDIX Agrees To Sell Water Quality Assets To Modern Water Plc For $4.5 Million

Stocks in this article: SDIX

SDIX™ (NASDAQ: SDIX), today announced that it has entered into an agreement to sell the assets of its water quality division to Modern Water plc for $4.5 million. Modern Water is acquiring the division’s intellectual property, its current inventory and commercial contracts, as well as its equipment and staff.

The acquisition is expected to be completed during the fourth quarter of 2011.

Francis DiNuzzo, SDIX’s President and CEO, commented, “We are pleased to announce our agreement to sell our Water Quality business to Modern Water. SDIX’s strategic focus has been and remains on the growth of our Life Science and Food Safety businesses which combined have averaged over 10% year-over-year quarterly revenue growth since the first quarter of 2010. This divestiture is consistent with our corporate strategy and enables us to focus even further on our core businesses. Notably, within our Life Science business, we aim to focus on the development of our next generation proprietary GAT technology which is achieving key milestones ahead of our initial schedule. We are working to develop our GAT technology towards a novel approach for the discovery of rare monoclonal antibodies to be used in high value applications such as biotherapeutics and biomarker discovery and validation. The net cash from this sale will strengthen our balance sheet and provides additional resources for key investments that we expect will drive further growth in our Life Science and Food Safety businesses.”

Mr. DiNuzzo went on to say “We are pleased to not only achieve great value for SDIX shareholders, but also to place our Water Quality assets, including the Microtox® products, with Modern Water. Modern Water is focused on the water market and will ensure that existing customers continue to receive the level of quality product and service that they have been accustomed to with SDIX.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs