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Index of Rockwell News 2004
Click on underlined dates to view complete story

  Dec 10, 2004   -  Rockwell Medical Technologies Extends Warrants
  Nov 11, 2004   -  RMTI Reports Q3 Year-to-Date Earnings Improve $295,000
  Oct. 26, 2004   -  FDA Has Rockwell's Pre-Clinical Safety Study Proposal
for Dialysate Iron under Review
  Oct. 20, 2004   -  Rockwell Schedules Third Quarter Conference Call
  Aug 12, 2004   -  Rockwell Reports Second Quarter EPS Improves $.02
  July 13, 2004   -  Rockwell Schedules Second Quarter Conference Call
  May 10, 2004  -  Rockwell Reports Sales up 25.4% in First Quarter 2004
  May 06, 2004  -  Rockwell Signs Agreement with National Dialysis Provider
  May 05, 2004   -  Rockwell Schedules First Quarter Conference Call
  Feb. 26, 2004  -  Rockwell Reports Fourth Quarter Earnings of $0.01 Per Share;
Revenue Increases 30.2% for 2003
  Feb. 17, 2004  -  Rockwell Medical Reports Grant Awarded for
Proprietary Dialysate Iron Therapy Study
  Feb. 11, 2004  -  Rockwell Medical Reports Patent for Proprietary Dialysate
Iron Therapy Technology Issued
  Jan. 16, 2004  -  Rockwell Schedules Fourth Quarter Conference Call


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(return to News Index)
Friday, December 10, 2004

Rockwell Medical Technologies, Inc. Extends Warrants

WIXOM, Mich. -- Rockwell Medical Technologies, Inc., a leading, innovative hemodialysis concentrate manufacturer in the healthcare industry, announced today that it has extended the expiration date of its publicly traded warrants by twelve months to January 26, 2006 at 5pm EST.

Rockwell warrants trade under the symbol RMTIW with an exercise price of $4.50 per Common Share. The warrants have a call feature and may be redeemed by the Company provided the bid price of the Common Shares has been at least $7.00 for 20 consecutive trading days ending on the third day prior to the date the notice of redemption is given.

Rockwell Medical Technologies, Inc. is an innovative leader in manufacturing, marketing and delivering high-quality dialysis solutions, powders and ancillary products that improve the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased 6-8% on average each year over the last decade. Rockwell's products are used to cleanse the ESRD patient's blood and replace nutrients in the bloodstream. Rockwell offers the proprietary Dri-Sate® Dry Acid Mixing System, RenalPure™ Liquid Acid, RenalPure™ Powder Bicarbonate, SteriLyte® Liquid Bicarbonate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items.

Certain statements in this press release with respect to Rockwell's anticipated sales revenue constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, competitive factors, failure to obtain FDA approval, and other factors discussed in Rockwell's reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.

(return to News Index)
Thursday November 11, 2004

Rockwell Medical Reports Third Quarter Sales;
Year-to-Date Earnings Improve $295,000

WIXOM, Mich. -- Rockwell Medical Technologies, Inc., a leading, innovative hemodialysis products company in the healthcare sector, reported its third quarter 2004 results today which included the following third quarter highlights:

  • Record quarterly revenues of $4,473,872 were up 13.6% over the third quarter of 2003.
  • Core dialysis concentrate product line revenues were up 30% over the third quarter of 2003.
  • Dri-Sate® Dry Acid Concentrate unit volume increased 41% over the third quarter of 2003.
  • Net income was $65,277 or $.01 per share.

Nine month results for 2004 improved substantially over the first nine months of 2003 with the following highlights:

  • Sales increased 21.6% over the first nine months of 2003.
  • Dialysis concentrate revenue was up 30%, driven by broad growth across all concentrate product lines.
  • Continued market growth of Dri-Sate® Dry Acid Concentrate with unit volumes up 43% over last year.
  • Operating income of $338,000, or 2.6% of sales, improved 2.2 percentage points over last year.
  • Net income improved by $295,000 as compared to a loss of ($95,000) in the first three quarters of 2003.
  • Earnings per share was $.02, an improvement of $.03 per share compared to the first nine months last year.

Mr. Robert L. Chioini, Chairman, CEO, and President of Rockwell Medical Technologies, Inc. stated, “Third quarter sales growth of 30% in our concentrates were strong and in line with our expectations. Although we lost a piece of lower margin ancillary business for the quarter, growth in our core product line made up for more than the difference. Our strategic focus continues to be on getting our proprietary iron therapy product to the market while continuing to increase market share in our core concentrate business.”

Rockwell has been developing a proprietary drug product containing Ferric Pyrophosphate (FePPi) to be delivered by its dialysis concentrates. It believes FePPi, delivered via Dialysate, is a superior iron compound and delivery method for the treatment of anemia in dialysis patients as compared to the current intravenous (IV) Iron drugs used today. The Company is seeking FDA approval of the product, which it intends to market. The Company believes that the current market for IV iron is $300 million in the United States and more than $500 million globally. As compared to IV iron administration, the Company believes that administering the drug through its dialysate is a safer and more effective method for maintaining iron balance in dialysis patients, while at the same time eliminating the associated nursing and pharmaceutical IV iron administration costs. Rockwell holds the exclusive rights to the patents which cover the the pharmaceutical composition, methods of use and delivery of iron to be administered via dialysate to both hemodialysis and peritoneal dialysis patients.

Rockwell will be hosting a conference call to review its third quarter results on November 11, 2004 at 11:00 am EDT. Investors are encouraged to call in 5-10 minutes in advance of the call at 888-896-0862 or may listen on the web at: http://orion.calleci.com/servlet/estreamgetevent?id=4420&folder=default using Windows Media Player. See rockwellmed.com for more details and playback options.

Rockwell Medical Technologies, Inc. is an innovative leader in manufacturing, marketing and delivering high-quality dialysis solutions, powders and ancillary products that improve the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased 6-8% on average each year over the last decade. Rockwell's products are used to cleanse the ESRD patient's blood and replace nutrients in the bloodstream. Rockwell offers the proprietary Dri-Sate® Dry Acid Mixing System, RenalPure™ Liquid Acid, RenalPure™ Powder Bicarbonate, SteriLyte® Liquid Bicarbonate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items.

Certain statements in this press release with respect to Rockwell's anticipated sales revenue constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, competitive factors, failure to obtain FDA approval, and other factors discussed in Rockwell's reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.

Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Income Statements
For the three and nine months ended
September 30, 2004 and September 30, 2003
(Whole dollars)

(Unaudited)
  3 Months ended Sept 30, 2004 3 Months ended Sept 30, 2003 9 Months ended Sept 30, 2004 9 Months ended Sept 30, 2003
Sales $ 4,473,872 $ 3,938,878 $ 13,164,640 $ 10,827,169
Cost of Sales     3,753,177     3,224,504     11,066,748     9,067,596
Gross Profit      720,695       714,374     2,097,892     1,759,573
Selling, General, Admin     606,304     588,454    1,759,692   1,717,280
Operating Income (Loss)     114,391     125,920    338,200    42,293
Interest Expense, net    49,114       41,070      138,082      137,466
   Net Income (Loss)  $ 65,277  $ 84,850 $ 200,118 $ (95,173)
Avg shares outstanding
  8,551,814

  8,492,923

  8,543,879

  8,489,858
Basic Earnings(Loss) per share $  .01 $  .01 $  0.02 $  (.01)
Diluted shares outstanding
  9,156,177

  9,018,201

  9,272,307

  8,489,858
Diluted Earnings(Loss) per share $  .01 $  .01 $  0.02 $  (.01)

Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Balance Sheets
As of September 30, 2004 and December 31, 2003
(Whole dollars)
(Unaudited)
  Sept. 30, 2004 Dec. 31, 2003
ASSETS
Cash and Cash Equivalents $ 62,026 $ 106,639
Restricted Cash and Cash Equivalents 8,662 8,662
Accounts Receivable,
    net of a reserve of $34,500 in 2004 and $34,500 in 2003
2,302,866 2,169,564
Inventory 1,437,712 1,350,291
Other Current Assets     145,921     103,971
    Total Current Assets 3,957,187 3,739,127
Property and Equipment, net 1,987,917 1,943,376
Intangible Assets 369,077 314,071
Goodwill     920,745     920,745
Other Non-current Assets     123,312     127,467
    Total Assets $ 7,358,238 $ 7,044,786

LIABILITIES AND SHAREHOLDERS' EQUITY
Short Term Borrowings $ 373,874 $    642,018
Notes Payable & Capitalized Lease Obligations 338,826 307,959
Accounts Payable 1,935,721 1,666,952
Accrued Liabilities     446,417     329,519
    Total Current Liabilities 3,094,838 2,946,448

Long Term Notes Payable & Capitalized Lease Obligations

858,298 926,230
    Shareholders' Equity:
Common Shares, no par value,
    8,551,814 and 8,519,405 shares issued and outstanding
11,865,096 11,832,220
Common Share Purchase Warrants,
    3,761,071 and 3,766,071 shares issued and outstanding
320,150 320,150
Accumulated Deficit (8,780,144) (8,980,262)
   Total Shareholders' Equity   3,405,102   3,172,108
    Total Liabilities and Shareholders' Equity $ 7,358,238 $ 7,044,786


(return to News Index)
Tuesday, October 26, 2004

Rockwell Reports Pre-Clinical Safety Pharmacology
Study Proposal for Dialysate Iron under FDA Review

WIXOM, Mich. -- Rockwell Medical Technologies, Inc.reported that the FDA is reviewing its Pre-Clinical Safety Pharmacology Study proposal for its iron delivery technology. Once the Company receives FDA approval for the Pre-Clinical Safety Pharmacology Study, the Company will finalize for submission its Clinical Study protocol. Ferric pyrophosphate (FePPi), a water-soluble form of iron, is the cornerstone of Rockwell's proprietary technology for its iron-therapy product line.

Rockwell has been developing a proprietary concentrate product containing FePPi to be used as a treatment for anemia in dialysis patients. The Company is seeking FDA approval of the product, which it intends to market. The Company believes that the current market for intravenous (IV) iron is $300 million in the United States and more than $500 million globally. As compared to IV iron administration, the Company believes that administering the drug through its dialysate is a safer and more effective method for maintaining iron balance in dialysis patients, while at the same time eliminating the associated nursing and pharmaceutical IV iron administration costs. Rockwell holds the exclusive rights to the patents which cover the pharmaceutical composition, methods of use and delivery of iron to be administered via dialysate to both hemodialysis and peritoneal dialysis patients.

Rockwell Medical Technologies, Inc. is an innovative leader in manufacturing, marketing and delivering high-quality dialysis solutions, powders and ancillary products that improve the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased 6-8% on average each year over the last decade. Rockwell's products are used to cleanse the ESRD patient's blood and replace nutrients in the bloodstream. Rockwell offers the proprietary Dri-Sate® Dry Acid Mixing System, RenalPure™ Liquid Acid, RenalPure™ Powder Bicarbonate, SteriLyte® Liquid Bicarbonate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items.

Certain statements in this press release with respect to Rockwell's anticipated sales revenue constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, competitive factors, failure to obtain FDA approval, and other factors discussed in Rockwell's reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.


(return to News Index)
Tuesday, October 20, 2004

Rockwell Medical Schedules Third Quarter 2004
Investor Conference Call

WIXOM, Mich. -- Rockwell Medical Technologies, Inc.announced today that it will hold a conference call on Thursday, November 11, 2004 at 11:00AM EDT to discuss third quarter 2004 results. The Company intends to release its results before the market opens on the same date. Rob Chioini, Chairman and CEO, and Thomas Klema, CFO, will be hosting the call to review Rockwell's results and answer questions from investors.

The call will be held on:

Thursday, November 11, 2004
Starting Time 11:00AM Eastern Time
Dial in Number: 888-896-0862


When calling in please refer to the Rockwell Medical Technologies, Q3 2004 Conference Call and provide the operator with your name and company affiliation.

Investors who prefer to participate using the internet may access the following link for Real Player:
http://orion.calleci.com/servlet/estreamgetevent?id=4419&folder=default

Or for Windows Media Player:
http://orion.calleci.com/servlet/estreamgetevent?id=4420&folder=default

International Investors may dial in directly on 973-935-8597

Investors who are unable to listen to the Rockwell earnings conference call will be able to access a replay via our web site at www.rockwellmed.com. There will be no telephone replay.

We appreciate your interest in Rockwell


(return to News Index)
Thursday August 12, 2004

Rockwell Medical Reports Second Quarter EPS Improves $.02; Sales Revenue Increases 26.9%

WIXOM, Mich. -- Rockwell Medical Technologies, Inc., a leading, innovative hemodialysis products company in the healthcare sector, reported its second quarter 2004 results today which included the following second quarter highlights:

  • Sales increased 26.9% over the second quarter of 2003.
  • Sales were $4,382,924, compared to $3,453,554 in the second quarter of 2003.
  • Net income was $54,625, compared to a loss of ($93,230) in the second quarter of 2003.
  • Earnings per share was $.01, an improvement of $.02 per share over the loss ($.01) per share in the second quarter of 2003.
  • Dri-Sate® Dry Acid Concentrate unit volume increased 55% over the second quarter of 2003.
  • Hemodialysis concentrate revenue increased 36% compared to the second quarter of 2003.

First half 2004 results improved significantly over the first half of 2003 which included the following highlights:

  • Sales increased 26.2% over the first half of 2003.
  • Net income improved by $315,000 as compared to a loss of ($180,023) in the first half of 2003.
  • Earnings per share was $.02, an improvement of $.04 per share compared to the first half of 2003.

Mr. Robert L. Chioini, Chairman, CEO, and President of Rockwell Medical Technologies, Inc. stated, “Second quarter sales were in line with our expectations. We anticipate continued sales growth in the second half of 2004. Going forward, we will continue to focus on building our core concentrate business as well as obtaining FDA approval to market our proprietary iron-therapy concentrate product.”

Rockwell will be hosting a conference call to review its second quarter results on August 12, 2004 at 11:00 am EDT. Investors are encouraged to call in 5-10 minutes in advance of the call at 888-896-0862 or may listen on the web at: http://orion.calleci.com/servlet/estreamgetevent?id=4013&folder=default using Windows Media Player. See rockwellmed.com for more details and playback options.

Rockwell Medical Technologies, Inc. is an innovative leader in manufacturing, marketing and delivering high-quality dialysis solutions, powders and ancillary products that improve the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased 6-8% on average each year over the last decade. Rockwell's products are used to cleanse the ESRD patient's blood and replace nutrients in the bloodstream. Rockwell offers the proprietary Dri-Sate® Dry Acid Mixing System, RenalPure™ Liquid Acid, RenalPure™ Powder Bicarbonate, SteriLyte® Liquid Bicarbonate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items.

Certain statements in this press release with respect to Rockwell's anticipated sales revenue constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, competitive factors, failure to obtain FDA approval, and other factors discussed in Rockwell's reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.

Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Income Statements
For the three and six months ended June 30, 2004 and June 30, 2003
(Whole dollars)

(Unaudited)
  3 Months ended June 30, 2004 3 Months ended June 30, 2003 6 Months ended June 30, 2004 6 Months ended June 30, 2003
Sales $ 4,382,924 $ 3,453,554 $ 8,690,768 $ 6,888,291
Cost of Sales     3,700,686     2,881,154     7,313,570     5,843,091
Gross Profit      682,238       572,400     1,377,198     1,045,200
Selling, General, Admin     582,977     608,592    1,153,388   1,128,827
Operating Income (Loss)     99,261     (36,192)    223,810    (83,627)
Interest Expense, net    44,636        57,038      88,968         96,396
   Net Income (Loss)  $ 54,625  $ (93,230) $ 134,842 $ (180,023)
Avg shares outstanding
  8,544,296

  8,488,283

  8,539,889

  8,488,283
Basic Earnings(Loss) per share $  .01 $  (.01) $  0.02 $  (.02)
Diluted shares outstanding
  9,279,356

  8,488,283

  9,312,119

  8,488,283
Diluted Earnings(Loss) per share $  .01 $  (.01) $  0.01 $  (.02)

Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Balance Sheets
As of June 30, 2004 and December 31, 2003
(Whole dollars)
  June 30, 2004 Dec. 31, 2003
ASSETS
Cash and Cash Equivalents $ 306,032 $ 106,639
Restricted Cash and Cash Equivalents 8,662 8,662
Accounts Receivable,
    net of a reserve of $34,500 in 2004 and $34,500 in 2003
2,226,195 2,169,564
Inventory 1,433,358 1,350,291
Other Current Assets     131,559     103,971
    Total Current Assets 4,105,806 3,739,127
Property and Equipment, net 2,030,739 1,943,376
Intangible Assets 301,834 314,071
Goodwill     920,745     920,745
Other Non-current Assets     125,271     127,467
    Total Assets $ 7,484,395 $ 7,044,786

LIABILITIES AND SHAREHOLDERS' EQUITY
Short Term Borrowings $ 498,594 $    642,018
Notes Payable & Capitalized Lease Obligations 343,508 307,959
Accounts Payable 2,036,906 1,666,952
Accrued Liabilities     351,580     329,519
    Total Current Liabilities 3,230,589 2,946,448

Long Term Notes Payable & Capitalized Lease Obligations

913,980 926,230
    Shareholders' Equity:
Common Shares, no par value,
    8,551,814 and 8,519,405 issued and outstanding
11,865,096 11,832,220
Common Share Purchase Warrants,
    3,761,071 and 3,766,071 issued and outstanding
320,150 320,150
Accumulated Deficit (8,845,420) (8,980,262)
   Total Shareholders' Equity   3,339,826   3,172,108
    Total Liabilities and Shareholders' Equity $ 7,484,395 $ 7,044,786


(return to News Index)
Tuesday, July 13, 2004

Rockwell Medical Schedules Second Quarter 2004
Investor Conference Call

WIXOM, Mich. -- Rockwell Medical Technologies, Inc.announced today that it will hold a conference call on Thursday, August 12, 2004 at 11:00AM EDT to discuss second quarter 2004 results. The Company intends to release its results before the market opens on the same date. Rob Chioini, Chairman and CEO, and Thomas Klema, CFO, will be hosting the call to review Rockwell's results and answer questions from investors.

The call will be held on:

Thursday, August 12, 2004
Starting Time 11:00AM Eastern Time
Dial in Number: 888-896-0862


When calling in please refer to the Rockwell Medical Technologies, Q2 2004 Conference Call and provide the operator with your name and company affiliation.

Investors who prefer to participate using the internet may access the following link for Real Player:
http://orion.calleci.com/servlet/estreamgetevent?id=4012&folder=default

Or for Windows Media Player:
http://orion.calleci.com/servlet/estreamgetevent?id=4013&folder=default

International Investors may dial in directly on 973-935-8597

Investors who are unable to listen to the Rockwell earnings conference call will be able to access a replay via our web site at www.rockwellmed.com. There will be no telephone replay.

We appreciate your interest in Rockwell


(return to News Index)
Monday May 10, 2004

Rockwell Reports First Quarter 2004 Results;
Sales up 25.4%

WIXOM, Mich. -- Rockwell Medical Technologies, Inc., a leading, innovative hemodialysis products company in the healthcare sector, reported its first quarter 2004 results today and included the following first quarter highlights:

  • Sales increased 25.4% over the first quarter of 2003.
  • Sales were $4,307,844, compared to $3,434,737 in the first quarter of 2003.
  • Net income was $80,217, compared to a loss of ($86,793) in the first quarter of 2003.
  • Earnings per share was $.01, compared to a loss of ($.01) per share in the first quarter of 2003.
  • Dri-Sate® Dry Acid Concentrate revenue increased 32%.
  • Hemodialysis concentrate revenue increased 30%.

Mr. Robert L. Chioini, Chairman, CEO, and President of Rockwell Medical Technologies, Inc. said, “First quarter sales met our expectations. We continue to secure business and penetrate our market. We expect sales growth to continue in each quarter this year. We are pleased with the recently signed supply agreement with DaVita, the largest independent dialysis provider in the country, and with our prospects to substantially grow our hemodialysis products business going forward.”

Mr. Chioini further stated, "“Regarding our proprietary dialysate iron product, we have made solid progress in completing the necessary steps that will enable us to submit our Phase III clinical protocol to the FDA. We are progressing on our expected timeline and remain focused on the development of this innovative method of delivering iron to anemic dialysis patients. We are optimistic about our prospects to compete in the $270,000,000 dialysis iron therapy market.”

Rockwell Medical Technologies, Inc. is an innovative leader in manufacturing, marketing and delivering high-quality dialysis solutions, powders and ancillary products that improve the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased approximately 6% on average each year over the last decade. Rockwell's products are used to cleanse the ESRD patient's blood and replace nutrients in the bloodstream. Rockwell offers the proprietary Dri-Sate® Dry Acid Mixing System, RenalPure™ Liquid Acid, SteriLyte™ Liquid Bicarbonate, RenalPure® Powder Bicarbonate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items.

Certain statements in this press release with respect to Rockwell's anticipated sales revenue constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, competitive factors and other factors discussed in Rockwell's reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.


Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Income Statements
  For the three months ended March 31, 2004 and March 31, 2003  
(Whole dollars)
(Unaudited)
  Three months
ended
March 31, 2004
Three months
ended
March 31, 2003
Sales $ 4,307,844 $ 3,434,373
Cost of Sales   3,612,884   2,961,937
Gross Profit      694,960       472,800
Selling, General, Administrative     570,411     520,235
Operating Income (Loss)     124,549     (47,435)
Interest Expense, net      44,332        39,358
Net Income (Loss)  $ 80,217  $ (86,793)
Avg shares outstanding
     8,535,524

      8,488,283
Basic & diluted loss/share § $  .01 $  (.01)
§ - Fully diluted shares outstanding were 9,337,480 for the first quarter of 2004.

Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Balance Sheet
As of March 31, 2004 and December 31, 2003
(Whole dollars)
  March 31, 2004 Dec. 31, 2003
Assets
Cash and Cash Equivalents $ 368,563 $ 106,639
Restricted Cash and Cash Equivalents 8,662 8,662
Accounts Receivable,
    net of a reserve of $34,500 in 2004 and $34,500 in 2003
2,133,905 2,169,564
Inventory 1,611,053 1,350,291
Other Current Assets     147,472     103,971
    Total Current Assets 4,269,655 3,739,127
Property and Equipment, net 2,152,270 1,943,376
Intangible Assets 307,952 314,071
Other Non-current Assets 125,558 127,467
Goodwill     920,745     920,745
    Total Assets $ 7,776,180 $ 7,044,786

    Liabilities and Shareholders' Equity

Short Term Borrowings $ 482,114 $    642,018
Notes Payable & Capitalized Lease Obligations 327,854 307,959
Accounts Payable 2,236,559 1,666,952
Accrued Liabilities     441,222     329,519
    Total Current Liabilities 3,487,749 2,946,448

Long Term Notes Payable & Capitalized Lease Obligations

1,013,949 926,230
Shareholders' Equity:
Common Shares, no par value,
    8,543,772 and 8,519,504 issued and outstanding
11,854,377 11,832,220
Common Share Purchase Warrants,
    3,761,071 and 3,766,071 issued and outstanding
320,150 320,150
Accumulated Deficit (8,900,045) (8,980,262)
   Total Shareholders' Equity   3,274,482   3,172,108
    Total Liabilities and Shareholders' Equity $ 7,776,180 $ 7,044,786


(return to News Index)
Thursday May 6, 2004

Rockwell Medical Signs Supply Agreement
with National Dialysis Provider

WIXOM, Mich. -- Rockwell Medical Technologies, Inc., a leading, innovative dialysis products manufacturer serving the healthcare industry, reported today that it has signed a concentrate Supply Agreement with DaVita, Inc. This Supply Agreement supersedes the supply contract Rockwell and DaVita signed in March of 2002.

The Supply Agreement calls for Rockwell to supply DaVita dialysis centers with Rockwell's Dri-Sate® Dry Acid Concentrate Mixing System, RenalPure™ Bicarbonate Powder, RenalPure™ Liquid Acid Concentrate and SteriLyte® Liquid Bicarbonate. The supply contract has a term of three years and may be extended upon mutual agreement of both parties. Rockwell anticipates that the supply contract will generate sales revenue in excess of $5,000,000 annually.

DaVita, Inc. is the largest independent provider of dialysis services in the United States for patients suffering from chronic kidney failure with 566 outpatient dialysis facilities serving nearly 48,500 patients. The company also provides acute inpatient dialysis services in over 300 hospitals across the country.

Mr. Robert L. Chioini, Chairman, CEO and President of Rockwell stated, “This partnership is a significant step for Rockwell. It enables us to gain market share, increase sales revenue and improve profit margins through our proprietary Dri-Sate® Dry Acid Mixing System and our entire concentrate product line.”

Rockwell Medical Technologies, Inc. is an innovative leader in manufacturing, marketing and delivering high-quality dialysis solutions, powders and ancillary products that improve the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased approximately 6% on average each year over the last decade. Rockwell's products are used to cleanse the ESRD patient's blood and replace nutrients in the bloodstream. Rockwell offers the proprietary Dri-Sate® Dry Acid Mixing System, RenalPure™ Liquid Acid, SteriLyte™ Liquid Bicarbonate, RenalPure® Powder Bicarbonate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items.

Certain statements in this press release with respect to Rockwell's anticipated sales revenue constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, competitive factors and other factors discussed in Rockwell's reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.


(return to News Index)
Wednesday May 5, 2004

Rockwell Medical Schedules First Quarter 2004
Investor Conference Call

WIXOM, Mich. -- Rockwell Medical Technologies, Inc.announced today that it will hold a conference call on Monday, May 10, 2004 at 11:00AM EST to discuss the results for the first quarter of 2004. Rob Chioini, Chairman and CEO, and Thomas Klema, CFO, will be hosting the call to review Rockwell's results and answer questions from investors.

The call will be held on:

Monday, May 10, 2004
Starting Time 11:00AM Eastern Time
Dial in Number: 888-896-0862


When calling in please refer to the Rockwell Medical Technologies, 1st Quarter 2004 Conference Call and provide the operator with your name and company affiliation.

Investors who prefer to participate using the internet may access the following link for Real Player:
http://orion.calleci.com/servlet/estreamgetevent?id=3728&folder=default

Or for Windows Media Player:
http://orion.calleci.com/servlet/estreamgetevent?id=3730&folder=default

International Investors may dial in directly on 973-935-8597

Investors who are unable to listen to the Rockwell earnings conference call will be able to access a replay via our web site at www.rockwellmed.com. There will be no telephone replay.

We appreciate your interest in Rockwell


(return to News Index)
Thursday February 26, 2004

Rockwell Reports Fourth Quarter Earnings of $0.01 Per Share;
Company Turns Profit for 2003 on 30.2% Increase in Revenue

WIXOM, Mich. -- Rockwell Medical Technologies, Inc. a leading, innovative hemodialysis concentrate manufacturer in the healthcare industry, today reported results for the fourth quarter and year ended December 31, 2003:

Fourth Quarter 2003

  • Fourth quarter net income was $100,026 compared with a ($72,847) loss for the fourth quarter of 2002.
  • Netearnings per share for the fourth quarter improved to $.01 compared with a loss of ($.01) in the same quarter last year.
  • Revenueincreased to a record $4,142,975 in the fourth quarter, a 15% improvement over the same period in 2002.
  • Grossprofit margin improved to 19.2% in the fourth quarter compared with 15.6% in the fourth quarter last year.
  • Dri-Sate®Dry Acid Concentrate sales increased 33% in the fourth quarter compared to the same period in 2002.
Year Ended December 31, 2003
  • Net income for 2003 was $4,853 as compared to a ($980,711) loss in 2002. Results for 2003 included R&D costs of approximately $250,000 related to the development of Rockwell's proprietary dialysate iron-therapy product.
  • Netincome for 2003 reflected a $985,564 improvement, or $.12 per share, compared with 2002.
  • Revenueincreased to $14,970,144 for 2003; a 30.2% improvement in revenue over 2002.
  • Grossprofit margin improved 4.5 margin points to 17.1% in 2003 as compared with 12.6% in 2002.
  • Dri-Sate®Dry Acid Concentrate sales increased 34% in 2003 as compared to 2002.

Mr. Robert L. Chioini, Chairman, CEO, and President of Rockwell Medical Technologies, Inc. stated, “We had a strong fourth quarter and an exceptional year. We achieved record financial performance which was driven by strong demand for our products, solid growth in our sales and improved efficiencies in our operations. Rockwell's core concentrate business is profitable and we expect it to continue to become more so going forward. Looking forward, our priorities are to obtain FDA approval to market the Company's proprietary iron-therapy product and to continue to gain market share in our core concentrate business.”

Rockwell has been developing an innovative, proprietary concentrate product containing ferric pyrophosphate (FePPi), a water-soluble form of iron, to be used as a treatment for iron deficiency in dialysis patients. The Company is seeking FDA approval of this product which it intends to market. As compared to intravenous (IV) iron administration, the Company believes that administering iron through its dialysate is a safer and more effective method for maintaining iron balance in dialysis patients, while at the same time eliminating the associated nursing and pharmaceutical IV iron administration costs. Rockwell licensed the exclusive rights to the patent which covers the pharmaceutical composition, methods of use and delivery of iron to be administered via dialysate to both hemodialysis and peritoneal dialysis patients. The Company estimates that the U.S. dialysis market for IV iron generates between $270 million to $300 million in annual revenue.

Rockwell will be holding a conference call to discuss its earnings results on Thursday, February 26, 2004 at 11:00am EST. The call in number is 888-896-0862. The call will be available for replay on the Company's website at www.rockwellmed.com.

Rockwell Medical Technologies, Inc. is an innovative leader in manufacturing, marketing and delivering high-quality dialysis solutions, powders and ancillary products that improve the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased 6-8% on average each year over the last decade. Rockwell's products are used to cleanse the ESRD patient's blood and replace nutrients in the bloodstream. Rockwell offers the proprietary Dri-Sate® Dry Acid Mixing System, RenalPure™ Liquid Acid, RenalPure™ Powder Bicarbonate, SteriLyte® Liquid Bicarbonate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items.

Certain statements in this press release with respect to Rockwell's business and operations, including the statements regarding the Company's proprietary dialysate iron-therapy product, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, competitive factors, failure to obtain FDA approval, and other factors discussed in Rockwell's reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.

Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Income Statements
For the quarter and year ended December 31, 2003 and 2002
(Whole dollars)
  Quarter ended Dec. 31, 2003 Quarter ended Dec. 31, 2002 Year ended Dec. 31, 2003 Year ended Dec. 31, 2002
Sales $ 4,142,975 $ 3,604,987 $ 14,970,144 $ 11,495,764
Cost of Sales     3,346,866     3,042,879     12,414,462     10,042,000
Gross Profit      796,109       562,108      2,555,682     1,453,764
Selling, General, Admin     650,493     614,725    2,367,773   2,318,945
Operating Income (Loss)     145,616     (52,617)    187,909    (865,181)
Interest Expense, net    45,590        20,230      183,056         115,530
   Net Income (Loss)  $ 100,026  $ (72,847) $ 4,853 $ (980,711)
Avg shares outstanding
  8,510,828

  8,303,881

  8,495,134

  7,867,464
Basic & Diluted Earnings/share § $  .01 $  (.01) $  0.00 $  (.12)
§ - Fully diluted shares outstanding were 9,229,754 for the fourth quarter of 2003.

Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Balance Sheet
As of December 31, 2003 and 2002
(Whole dollars)
  Dec. 31, 2003 Dec. 31, 2002
Assets
Cash and Cash Equivalents $ 132,227 $         133
Restricted Cash and Cash Equivalents 8,662 13,965
Accounts Receivable,
    net of a reserve of $34,500 in 2003 and $51,500 in 2002
2,169,564 1,722,455
Inventory 1,350,291 1,476,506
Other Current Assets     103,971     118,316
    Total Current Assets 3,764,715 3,331,375
Property and Equipment, net 1,943,376 1,730,594
Intangible Assets 314,071 336,201
Other Non-current Assets 127,467 134,776
Goodwill     920,745     920,745
    Total Assets $ 7,070,374 $ 6,453,691

    Liabilities and Shareholders' Equity

Short Term Borrowings $ 642,018 $    417,254
Notes Payable & Capitalized Lease Obligations 307,959 194,799
Accounts Payable 1,692,540 1,680,842
Accrued Liabilities     329,519     333,792
    Total Current Liabilities 2,972,036 2,626,687

Long Term Notes Payable & Capitalized Lease Obligations

926,230 781,504
Shareholders' Equity:
Common Shares, no par value,
    8,519,405 and 8,488,283 issued and outstanding
11,832,220 11,724,507
Common Share Purchase Warrants,
    3,766,071 and 3,753,460 issued and outstanding
320,150 306,108
Accumulated Deficit (8,980,262) (8,985,115)
   Total Shareholders' Equity   3,172,108   3,045,500
    Total Liabilities and Shareholders' Equity $ 7,070,374 $ 6,453,691


(return to News Index)
Tuesday February 17, 2004

Rockwell Medical Reports Grant Awarded for
Proprietary Dialysate Iron Therapy Study

WIXOM, Mich. -- Rockwell Medical Technologies, Inc. a leading, innovative hemodialysis concentrate manufacturer in the healthcare industry, reported that the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) of the National Institutes of Health (NIH) has awarded a RO-1 grant for studying the prospective advantages of ferric pyrophosphate (FePPi) delivery via dialysate in end stage renal disease (ESRD) patients. FePPi, a water-soluble form of iron, is the cornerstone of Rockwell's proprietary technology for its iron-therapy product line.

Rockwell has been developing an innovative, proprietary concentrate product containing FePPi to be used as a treatment for iron deficiency in dialysis patients. The Company is seeking FDA approval of this product which it intends to market. As compared to intravenous (IV) iron administration, the Company believes that administering the drug through its dialysate is a safer and more effective method for maintaining iron balance in dialysis patients, while at the same time eliminating the associated nursing and pharmaceutical IV iron administration costs. Rockwell licensed the exclusive rights to the patent which covers the pharmaceutical composition, methods of use and delivery of iron to be administered via dialysate to both hemodialysis and peritoneal dialysis patients.

The RO-1 grant has been awarded to Ajay Gupta, M.D., Associate Professor of Medicine at UCLA and inventor of FePPi delivery via dialysate, and Charles R. Drew University of Medicine and Science in Los Angeles, California. The acute and chronic effects of dialysate iron on serum levels of catalytically active iron and markers of inflammation and oxidative stress will be measured.

The National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) conducts and supports research on many of the most serious diseases affecting the kidney. The Institute supports much of the clinical research on the diseases of internal medicine and related subspecialty fields as well as many basic science disciplines.

Rockwell Medical Technologies, Inc. is an innovative leader in manufacturing, marketing and delivering high-quality dialysis solutions, powders and ancillary products that improve the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased 6-8% on average each year over the last decade. Rockwell's products are used to cleanse the ESRD patient's blood and replace nutrients in the bloodstream. Rockwell offers the proprietary Dri-Sate® Dry Acid Mixing System, RenalPure™ Liquid Acid, RenalPure™ Powder Bicarbonate, SteriLyte® Liquid Bicarbonate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items.

Certain statements in this press release with respect to Rockwell's business and operations, including the statements regarding the Company's proprietary dialysate iron-therapy product, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, competitive factors, failure to obtain FDA approval, and other factors discussed in Rockwell's reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.

(return to News Index)
Wednesday February 11, 2004

Rockwell Medical Reports Patent for Proprietary
Dialysate Iron Therapy Technology Issued

WIXOM, Mich. -- Rockwell Medical Technologies, Inc. a leading, innovative hemodialysis concentrate manufacturer in the healthcare industry, reported that the U.S. Patent and Trademark Office (USPTO) served notice of issuance for the patent covering the use of ferric pyrophosphate (FePPi), a form of iron, for which the Company has licensed the exclusive rights.

Rockwell has been developing an innovative, proprietary concentrate product that contains iron. The Company is seeking FDA approval of the product which it intends to market. Ferric pyrophospate (FePPi), a water-soluble form of iron, is the cornerstone of Rockwell's proprietary technology for its iron-therapy product line. The Company plans to administer FePPi via dialysate for iron maintenance treatment in dialysis patients. As compared to intravenous (IV) iron administration, the Company believes that administering the drug through its dialysate is a safer and more effective method for maintaining iron balance in dialysis patients, while at the same time eliminating the associated nursing and pharmaceutical IV iron administration costs. Rockwell licensed the exclusive rights to the patent which covers the pharmaceutical composition, methods of use and delivery of iron to be administered via dialysate to both hemodialysis and peritoneal dialysis patients.

Mr. Robert L. Chioini, Chairman, CEO and President of Rockwell stated, “This patent approval covering the U.S. market is a significant step for Rockwell. It protects the Company's potential future revenue stream generated from its proprietary iron-therapy product line. We believe Rockwell's iron-therapy initiative could have major impact on the dialysis market in terms of providing a safer and more economical alternative to the current IV iron drugs, as well as capturing significant market share. This is another step in potentially positioning Rockwell to become a global leader in providing improved patient outcomes worldwide.”

In July of 2003, Rockwell's iron-therapy product received "combination product" classification from the FDA. The iron-therapy product has been classified as a drug within a device. The Company anticipates submitting its Phase III clinical trial protocol to the FDA sometime during the first half of 2004. Rockwell estimates that the U.S. dialysis market for IV iron generates between $270 million to $300 million in annual revenue.

Based on results from FDA approved Phase II clinical studies, using dialysate as the delivery mechanism in hemodialysis patients, FePPi decreases the need for IV iron by 80% and consequently reduces the risks associated with the toxic effects of IV iron such as hypotension and anaphylactoid reactions, which can be life threatening. Unlike IV iron, FePPi does not require processing by the liver and thereby eliminates liver toxicity. Phase II clinical studies also showed that FePPi is well tolerated by patients without any short-term or long-term side effects. Moreover, it maintains a constant state of iron balance thereby facilitating the hematopoietic effects of erythropoietin without overloading the tissues with iron and thereby mitigating oxidative injury. Released pyrophosphate is also an anti-oxidant, which reduces the negative impact of oxidative stress that occurs to the patient during dialysis.

Iron deficiency is very common among hemodialysis patients due to 1) the administration of a drug called EPOGEN® (trademark of Amgen, Inc.; generic name Epoetin alfa) which helps the body make red blood cells but also increases the need for iron, and 2) the loss of blood the dialysis patient experiences during treatment. Currently, a dialysis patient can receive iron orally, which is not very effective due to stomach problems, nausea and poor patient compliance, or intravenously, whereas iron is absorbed into the liver and is slowly released into the bloodstream losing some of its potency, and which can also cause serious adverse reactions. IV iron is the most prevalent form of iron administration presently used in dialysis and is manufactured by American Regent Laboratories, Inc. under the trademark Venofer® and by Watson Pharmaceuticals, Inc. under the trademark Ferrlecit®.

Rockwell Medical Technologies, Inc. is an innovative leader in manufacturing, marketing and delivering high-quality dialysis solutions, powders and ancillary products that improve the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased 6-8% on average each year over the last decade. Rockwell's products are used to cleanse the ESRD patient's blood and replace nutrients in the bloodstream. Rockwell offers the proprietary Dri-Sate® Dry Acid Mixing System, RenalPure™ Liquid Acid, RenalPure™ Powder Bicarbonate, SteriLyte® Liquid Bicarbonate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items.

Certain statements in this press release with respect to Rockwell's business and operations, including the statements regarding the Company's proprietary dialysate iron-therapy product, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, competitive factors, failure to obtain FDA approval, and other factors discussed in Rockwell's reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.

(return to News Index)
Friday January 16, 2004

Rockwell Medical Schedules Fourth Quarter 2003
Investor Conference Call

WIXOM, Mich. -- Rockwell Medical Technologies, Inc.announced today that it will hold a conference call on Thursday, February 26, 2004 at 11:00AM EST to discuss the results for the fourth quarter of 2003. Rob Chioini, Chairman and CEO, and Thomas Klema, CFO, will be hosting the call to review its results and answer questions from investors

The call will be held on:

Thursday, February 26, 2004
Starting Time: 11:00AM Eastern Time
Dial in Number: 888-896-0862


When calling in please refer to the Rockwell Medical Technologies, 4th Quarter 2003 Conference Call and provide the operator with your name and company affiliation.

Investors who prefer to participate using the internet may access the following link for Real Player:
http://orion.calleci.com/servlet/estreamgetevent?id=3203&folder=webstream

Or for Windows Media Player:
http://orion.calleci.com/servlet/estreamgetevent?id=3205&folder=webstream

International Investors may dial in directly on 973-935-8597

Investors who are unable to listen to the Rockwell earnings conference call will be able to access a replay via our web site at www.rockwellmed.com. There will be no telephone replay.

We appreciate your interest in Rockwell



(Return to News Index)

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