CDEX Second Quarter Revenue Highest in Company's History; ValiMed Leads the Way
ROCKVILLE, Md., Jun 16, 2006 (BUSINESS WIRE) -- CDEX, Inc. (OTCBB:CEXI.OB)
announced today that it recorded the highest quarterly revenue in the history of
the company in the fiscal second quarter, ending April 30, 2006. Revenue was
$351,038 as compared to $23,860 during the second fiscal quarter of 2005. The
increase of $327,177 (or 1,371%) resulted from the delivery of ValiMed (TM)
medication verification systems to Baxa Corporation. Baxa represents the CDEX
ValiMed product line, exclusively in the USA and Canada.
During the period from January 2006 through April 2006, CDEX successfully
managed its production plan for the ValiMed medication verification system, that
included, but was not limited to the following: completing the ValiMed design
package; developing a new proprietary cuvette; identifying, qualifying, and
setting up contract manufacturers for ValiMed and the new proprietary cuvette;
developing new medications and drugs signatures for the ValiMed production
units, completing product certification testing and obtaining the TUV mark, and
delivering the first production units to Baxa on-time and on-budget.
"The shareholders, management, and staff of CDEX take great pride in what has
been accomplished. This achievement represents the culmination of several years
of research and development, determination, and perseverance by a lot of very
dedicated people to bring ValiMed to market. We are proud of what we have
achieved, and awed by the opportunities that are before us. The introduction of
ValiMed into the hospital pharmacy market is a significant contribution to
society. The ValiMed medication verification system gives clinicians and
healthcare professionals a quick, cost effective, and simple tool to further
ensure medication safety by verifying that medications are correctly compounded.
ValiMed can make a difference to hospital patients by preventing injuries and
the loss of life due to medication errors," said Jim Griffin, President and CEO
of CDEX, Inc.
About CDEX Inc.
CDEX Inc. is a technology development company with a current focus on developing
and marketing products using chemical detection and validation technologies. At
present, CDEX is devoting its resources to two distinct areas: (i) and quality
assurance (e.g., validation of prescription medication and detection of
counterfeit or sub-par products for brand protection). ValiMed is one line of
CDEX products for the healthcare market; and (ii) identification of substances
of concern (e.g., illegal drugs for law enforcement in the homeland security
market) CDEX is headquartered in Rockville, Maryland with its research and
development laboratory in Tucson, Arizona. For more information, visit
www.cdex-inc.com.
Any statements made in this press release which contain information that is not
historical are essentially forward-looking. Many forward-looking statements can
be identified by the use of words such as "expects," "plans," "may,"
"anticipates," "believes," "should," "intends," "estimates," and other words of
similar meaning. These statements are subject to risks and uncertainties that
cannot be predicted or quantified and, consequently, actual results may differ
materially from those expressed or implied by such forward-looking statements.
Such risks are detailed from time-to-time in filings with the Securities and
Exchange Commission. There is no obligation to publicly update any
forward-looking statements.
SOURCE: CDEX, Inc.
CONTACT: CDEX, Inc.
Jerry Blair, 301-881-0080
jblair@cdex-inc.com
