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Immunotec boosts sales                                                    http://www.montrealgazette.com/story_print.html?...
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Immunotec Boosts Sales

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Transcript of "Immunotec Boosts Sales"

  1. 1. Immunotec boosts sales http://www.montrealgazette.com/story_print.html?id=1426939&sponsor= Immunotec boosts sales THE GAZETTE MARCH 25, 2009 Montreal dietary supplements maker Immunotec Inc. Wednesday reported a 16.9 per cent year-to-year gain in net sales to $10.1 million in the three months ended Jan. 31, first quarter of fiscal 2009, saying it is expanding its distributor network outside North America to parts of Asia, Latin America and Europe. Net sales rose 8.3 per cent in Canada and 36.6 per cent in the U.S. as the company focussed heavily on adding new distributors. Immunotec's headquarters is in Vaudreuil-Dorion and its manufacturing plant is at Blainville. It also has a distribution centre in Swanton, Vt. Richard Patte, executive vice-president and CFO, said a new subsidiary has started up successfully in Korea, along with new distribution units in Malaysia, Ecuador and Poland. A new subsidiary in Ireland will soon be serving the Irish and British markets. The first quarter showed a loss of $201,205, after heavy spending on marketing, infrastructure and promotional activities, against net profit of $311,061 a year earlier. At Jan. 31, Immunotec had $5.7 million of cash and $2 million in unused credit lines. "We're well positioned to build on the first quarter's momentum and we're scaling back promotional spending as we focus on growing revenue and boosting the bottom line in the coming quarters," said Patte. © Copyright (c) The Montreal Gazette 1 of 1 4/13/2009 9:06 PM

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