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MACH7 TECHNOLOGIES LIMITED — Earnings Release 2009
Jul 21, 2009
65285_rns_2009-07-21_e21e40a8-b3e0-42d0-95f8-b4afc84b0f83.pdf
Earnings Release
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Wednesday, 22 July 2009
General Manager
The Company Announcements Office Australian Stock Exchange Limited Australia Square Sydney NSW 1215
REVISED EARNINGS GUIDANCE
Dear Sir/Madam,
Safety Medical Products Limited (‘ SafetyMed ’) (ASX: SFP) today advised that forecast sales from its 50% owned subsidiary Pureste Pty Ltd (‘Pureste’) are expected to be significantly lower than expected.
“Following the March 2009 launch it has taken longer than expected to co-ordinate and complete nationwide coverage.
Despite this, the Pureste range of Australia’s only sterilised Tampons, Pads and Liners is now available in Kmart, Target, IGA stores and Pharmacies across Australia and from next week will also be in six hundred Coles stores.
This national retail footprint continues to expand through Pureste’s distribution relationship with Creative Brands in Melbourne.
Unfortunately the first major retailer to come on board, Woolworths, decided not to continue with the range at it’s recent category review and this of course will impact on the forecasts. Woolworths have invited Pureste to present the range again at the next category review later this year.
Despite this we expect Pureste sales for the year ended 30 June 2010 to be approximately $7 million, down from the previous sales guidance expectations of approximately $15 million for the first year following May 2009 marketing launch (refer to 27 March 2009 announcement).
The SafetyMed group loss for the year ended 30 June 2009 is expected to be significantly lower than the prior year’s $4.4 million loss.
Pureste’s unaudited sales for the year ended 30 June 2009 are $0.7 million and for SafetyMed group $5.8 million. The SafetyMed group is expected to make a loss of approximately $3.5 million; this loss includes $1.4 million of intangible asset impairment and $0.7 million of Pureste marketing expenditure. The loss attributable to equity holders is expected to be $3 million.
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Safety Medical Products Limited 25 Fenden Road, Salisbury Plain, South Australia Australia, 5109 ACN 007 817 192
Phone: (08) 8285 5226 Fax: (08) 8285 3228 Email: [email protected] Website: www.safetymed.com.au ASX Code: SFP SafetyMed® is a registered trademark of Safety Medical Products Ltd
We remain very positive that the innovative Pureste products will change the landscape of the feminine hygiene market.” Mr J Riemelmoser said.
For further information please contact:
Mr. John Riemelmoser Mrs. Vicky Allinson Managing Director Company Secretary Safety Medical Products Limited Safety Medical Products Limited Ph. 08 8285 5226 Ph. 0416 253893
About Safety Medical Products Limited
SafetyMed is a company focused on developing and marketing a unique range of innovative Safety Products led by its flagship SecureTouch Retractable Syringe.
About the ‘Pureste’ feminine hygiene product range
SafetyMed, via its 50% owned subsidiary, Pureste Pty Ltd ( ‘Pureste’ ) has developed the first and only range of sterilised tampons, pads and panty liners to be marketed and distributed across Australia and New Zealand through leading retail outlets and pharmacies.
Further information of the Pureste product range please visit: www.pureste.com.au.
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