Results for Q3 2009 were strong despite the weakness of UK sterling (compared with Q3 2008 and 30 September YTD 2008), driven by the growth in PuriCore ™s US Food Safety core business, with approximately 50 US supermarket chains using Sterilox as at 30 September 2009, as well as by the incremental revenue achieved by Labcaire for the UK Endoscopy core business, which exceeded internal expectations. The Company remains on target with plans for the integration of Labcaire into the PuriCore UK Endoscopy business and for continuing to control operating expenses throughout the Company for the full year. PuriCore continues to successfully shift the business toward a lease versus capital sales model and expects this to continue in 2010.
Greg Bosch, Chief Executive Officer of PuriCore, said:
The continued market adoption of our Sterilox Food Safety Systems is further evidenced by the recent contract awards from two additional leading customers, including another top-10 retailer. The acquisition of Labcaire positions PuriCore as the leading provider of endoscope reprocessing products and services for our UK customers with a broad portfolio, and we look to expand our marketing of Labcaire products internationally in 2010.
Source: PuriCore