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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
Most Recent News
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Archives
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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.
- Net
earnings
per share for the fourth quarter improved to $.01 compared with a loss of
($.01) in the same quarter last year.
- Revenue
increased to a record $4,142,975 in the fourth quarter, a 15%
improvement over the same period in 2002.
- Gross
profit
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.
- Net
income for
2003 reflected a $985,564 improvement, or $.12 per share, compared with 2002.
- Revenue
increased to $14,970,144 for 2003; a 30.2% improvement in revenue
over 2002.
- Gross
profit
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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