2012 Financial Results
The financial information in regards to the twelve month period ended December 31, 2012 should be read in conjunction with the Corporation's financial statements as well as the Management's Discussion and Analysis dated March 25, 2013.
Total revenues for the fourth quarter of 2012, which were derived from product sales, development services and licensing revenues, were $8.3 million. Total revenues for the 2012 financial year were $23.3 million as compared to $17.6 million for the previous financial year.
ProMetic generated a net profit of $1.0 million for the quarter ended December 31, 2012 contributing to reduce its net loss to ($0.4 million) for the 2012 financial year compared to a net loss of ($3.3 million) for the previous 2011 financial year.
"We have significantly improved our overall financial performance in 2012 reaching new highs on many of our key financial indicators. We are pleased with our 2012 performance with record annual sales exceeding $23 million, positive EBITDA of $2.5 million, a significant improvement of our balance sheet and almost breaking even for the entire year. We believe to be well positioned to continue delivering solid financial performances going forward", said Mr. Bruce Pritchard, ProMetic's Chief Financial Officer.
ProMetic is pleased to announce that the entity that will operate its facility located in Laval, Quebec has been officially named ProMetic BioProduction Inc. Formerly known as "NewCo", the entity will manufacture high-value plasma-derived therapeutics.
Fourth Quarter and Year End 2012 Conference Call Information
ProMetic will host a conference call at 11:00am (EST) on Wednesday, March 27, 2013. The telephone numbers to access the conference call are (416) 981-9000 (International) and 1-800-755-1805 (Toll-free). A replay of the call will be available from March 27, 2013 at 1:30 p.m. until April 3, 2013. The numbers to access the replay are 1-416-626-4100 (passcode: 21652529) and 1-800-558-5253 (passcode: 21652529). A live audio webcast of the conference call will be available through the following: http://www.gowebcasting.com/4228
Additional Information in Respect to the Three month and Twelve month Periods ended December 31, 2012
ProMetic's MD&A and 2012 Financial Statements have been filed on Sedar (www.sedar.com) and will be available on the Company's website at www.prometic.com.
About ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. ("ProMetic") (www.prometic.com) is a biopharmaceutical company specialized in the research, development, manufacture and marketing of a variety of commercial applications derived from its proprietary Mimetic Ligand technology. This technology is used in large-scale purification of biologics and the elimination of pathogens. ProMetic is also active in therapeutic drug development with the mission to bring to market effective, innovative, lower cost, less toxic products for the treatment of hematology and cancer. Its drug discovery platform is focused on replacing complex, expensive proteins with synthetic "drug-like" protein mimetics. Headquartered in Laval (Canada), ProMetic has R&D facilities in the U.K., the U.S. and Canada, manufacturing facilities in the U.K. and business development activities in the US, Europe, Asia.
Forward Looking Statements
This press release contains forward-looking statements about ProMetic's objectives, strategies and businesses that involve risks and uncertainties. These statements are "forward -looking" because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. Such risks and assumptions include, but are not limited to, ProMetic's ability to develop, manufacture, and successfully commercialize value-added pharmaceutical products, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of ProMetic to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process and general changes in economic conditions. You will find a more detailed assessment of the risks that could cause actual events or results to materially differ from our current expectations in ProMetic's Annual Information Form for the year ended December 31, 2012, under the heading "Risk and Uncertainties related to ProMetic's business". As a result, we cannot guarantee that any forward-looking statement will materialize. We assume no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason, unless required by applicable securities laws and regulations. All amounts are in Canadian dollars unless indicated otherwise.
President and CEO
ProMetic Life Sciences Inc.
Director, Communications and
ProMetic Life Sciences Inc.
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