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MEDTOX Scientific Announces Second Quarter Results

[Here’s another interesting little company from the great state of Minnesota that happens to have a cool ticker symbol. Please see the PR for the financial tables.]

http://biz.yahoo.com/bw/050715/155081.html?.v=1

ST. PAUL, Minn--(BUSINESS WIRE)--July 15, 2005--MEDTOX Scientific, Inc. (AMEX: TOX ) announced today results for the second quarter ended June 30, 2005. For the three-month period, revenues increased to $16,845,000, compared to $15,064,000, or 11.8%, from the prior-year period. Operating income increased to $1,950,000 compared to $1,541,000, or 26.5%, from the prior-year period. The Company recorded net income of $1,015,000, or $0.13 per diluted share, compared to net income of $728,000, or $0.09 per diluted share, or a 39.4% increase in net income from the comparable period last year.

For the six-month period ended June 30, 2005, revenues increased to $31,534,000 compared to $28,647,000, or 10.1%, from the prior-year period. Operating income increased to $2,962,000 compared to $2,606,000, or 13.7%, for the comparable period last year. Net income increased to $1,436,000, or $0.18 per diluted share, compared to net income of $1,142,000, or $0.15 per diluted share, or an increase of 25.7% in net income from the comparable period last year.

Overall, expenses for the quarter were in line with expectations. Total operating expenses were 32.9% of revenues for the quarter compared to 33.7% for the comparable period last year. Research and development expenses increased 49.8% to $638,000 for the quarter from $426,000 in the comparable period last year. The Diagnostic segment incurred $148,000, or 69.8%, of the increase.

MEDTOX will hold a teleconference to discuss second quarter 2005 results today at 9:30 a.m. Central Time (10:30 a.m. Eastern). Dialing 800-387-5648 a few minutes prior to the scheduled start time on July 15 will access a listen-only broadcast of the teleconference. International callers may access the call by dialing 706-634-5527. Callers should ask for the MEDTOX quarterly conference call, hosted by Dick Braun, president and CEO of MEDTOX. A simultaneous webcast of the conference call will be available on the MEDTOX website in the "investors" section at www.medtox.com. An audio replay of the conference call will be available through July 22 at 800-642-1687 conference ID #7336289. International callers may access the replay at 706-645-9291 with the same conference ID #7336289.

MEDTOX Scientific, Inc., headquartered in St. Paul, Minn., is a provider of high quality specialized laboratory testing services and on-site/point-of-collection (POC) devices. The company also supports customers with complete logistics, data and program management services. MEDTOX is a leader in providing esoteric laboratory testing services to hospitals and laboratories nationwide. This includes both central laboratory and bio-analytical testing for pharmaceutical clinical trials. MEDTOX develops and manufactures diagnostic devices for quick and economical on-site/point-of-collection analysis for drugs-of-abuse, therapeutic drugs and biological and agricultural toxins and provides employment drug screening and occupational health testing. For more information see www.medtox.com.
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