VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 8, 2007) - Pyng Medical (TSX VENTURE:PYT) is pleased to report the company has set a new first quarter sales record in fiscal 2007 for the period ended December 31, 2006. This new record has surpassed all previous Q1 and Q2 sales records, making it the most successful first quarter to date.
Q1 2007 sales were $969,906 compared to sales of $416,191 for Q1 2006; this increase was more than twice the level from the same quarter last year. The sales growth was largely due to increased activities in both the US Military and EMS markets that were attributed to the company's diversification efforts during 2006. Full first quarter financial results will be available on SEDAR in late February 2007.
For more information please read our Q1 October 2006 Newsletter on items such as the annual revenue opportunity created by the ILCOR changes and the F.A.S.T.1(TM) advantages. We encourage everyone to enroll in our newsletter to stay informed on Pyng Medical Corp's latest developments. To enroll please visit our web page at http://www.pyng.com/newsletters.htm.
Safe Harbour Statement; Forward-Looking Statements: This release may contain forward-looking statements based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "projects", "indicates", and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents which may be filed with the British Columbia Securities Commission, the Alberta Securities Commission, the Ontario Securities Commission, the TSX Venture Exchange, as well as other USA Commissions, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw material, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales in some products.
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Pyng Medical Corp.