VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 5, 2007) - Pyng Medical Corp. (TSX VENTURE:PYT) recorded quarterly revenue of over $1.3 million for the period April 1, 2007 to June 30, 2007; a 36% increase in product shipped over the same period in 2006. Pyng Medical also marked the milestone of shipping its 100,000th unit this quarter.
"We have always had confidence that the FAST1(TM) Intraosseous Infusion System would become the preferred instrument in intraosseous infusion as the fastest way to deliver medicated fluids to the heart," said David Christie, President and Chief Executive Officer. "With demand at unprecedented levels, we are confident that care-givers realize firsthand the value our product provides in saving lives."
Pyng will release its full financial report for the quarter on July 30, 2007. An investor conference call is scheduled for July 31 at 10 am PDT.
About Pyng Medical Corp.
Pyng Medical Corp. is a world leader in intraosseous infusion with its proprietary award-winning FAST1(TM) Intraosseous Infusion System, the only device able to provide rapid sternal access and delivery of life saving fluids and drugs to the heart of critically injured patients within seconds. The FAST1(TM) is used extensively by the U.S. Department of Defense and by Emergency Medical Services around the globe.
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.