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Corgenix Reports First Quarter Fiscal 2013 Financial Results

Business Development Highlights for the Quarter ended September 30, 2012

  • Completed preliminary discussions with the U.S. Food and Drug Administration (FDA) on several diagnostic products in advance of 510(k) submissions expected in Q3 and Q4
  • Continued expansion of international business through the ELITech Group, focusing on securing regulatory approval in key countries
  • Advanced automated systems program with the installation and initial sales of the SkyLAB 752 instrument in the U.S.
  • Met key project guidelines of the Joint Product Development Agreement (JPDA) with ELITech, advancing several products expected to be released prior to end of fiscal year
  • Conducted advanced clinical studies of Lassa virus products in West Africa in preparation of product launch spanning Q2 and Q3.

First Quarter Conference Call Details

Corgenix invites all those interested in hearing management’s discussion of the first quarter results to join a shareholders conference call today, Tuesday, November 13, 2012, at 4:00 p.m. EST (2:00 p.m. MST). Interested parties can join the call by dialing (800) 895-0231. International participants may access the call by dialing +1 785-424-1054. The conference code is “CORGENIX.” A replay will be available for 30 days following the call by dialing (800) 388-5895 for U.S. participants and +1 402-220-1110 for international participants.

About Corgenix Medical Corporation

Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders, including the world’s only non-blood-based test for aspirin effect. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network and has significant experience advancing products through the FDA process. More information is available at www.corgenix.com.

Statements in this press release that are not strictly historical facts are “forward-looking” statements (identified by the words “believe”, “estimate”, “project”, “expect” or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, which are inherently uncertain, are based on management’s current expectations and are subject to various factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company’s products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company’s periodic reports filed with the Securities and Exchange Commission, and in the Company’s subsequent filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the Company does not undertake any obligation or intend to publicly update or revise any forward-looking statements.

   

UNAUDITED SUMMARY BALANCE SHEET DATA (in thousands)

 

September 30, 2012

June 30, 2012

Cash $ 1,197 $ 1,249
Working capital 3,994 3,645
Total assets 6,735 6,263
Long-term debt 440 472
Total stockholders’ equity 4,982 4,626




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