Medical Nutrition USA, Inc. (MDNU 2.50, +0.09, +3.73%) has announced its financial results for the first fiscal quarter ended April 30, 2010.
"We are very pleased with the Company's results for the quarter," Medical Nutrition Chairman and Chief Executive Officer Frank A. Newman said. "Performance was strong across the board – particularly for branded products, sales of which increased over 35% during the period. Our gains in the quarter reflect the continued addition of new nursing homes and hospitals to our end-user community as well as higher consumption within existing facilities. We feel good about our continuing momentum and direction for the year."
UTI-Stat(R) (ProAntinox(R)) Study Published
Also in the quarter, the Company announced the publication of an independent clinical study showing that the Company's UTI-Stat(R) (ProAntinox(R)) product demonstrated effectiveness in significantly reducing the anticipated incidence of recurrent urinary tract infections (UTI) and significantly improved quality of life in those with a history of UTI. The study was conducted by Dr. Aaron E. Katz, Professor of Clinical Urology at ColumbiaUniversity's College of Physicians and Surgeons and published by the peer-reviewed journal Urology, the official journal of the International Society of Urology. The results of the study were consistent with those in a 2008 study of UTI-Stat(R) among nursing home residents.
UTI-Stat(R) (ProAntinox(R)) is also available over-the-counter as Cystex(R) Cranberry. The study can be found at: http://www.goldjournal.net/article/S0090-4295(10)00183-4/abstract.
Earnings Conference Call
Medical Nutrition senior management is hosting a conference call to discuss its results with investors. A live webcast of the conference call can be accessed through the company's web site at: http://ir.medicalnutritionusa.com/events.cfm.
An archive of the webcast with audio can be accessed through the same link above. An audio-only replay of the call will be available following the conference call by dialing (866) 510-4862 (United States and Canada) or (678) 302-3562 (international callers) and entering the code, 4804300# followed by 4 and the following confirmation code: 201002225104127#. The audio-only replay will be available through Saturday, June 5.
About Medical Nutrition USA, Inc.
Medical Nutrition USA develops and distributes products for the nutritionally at risk who are under medical supervision. Its products are used primarily in long-term care facilities, hospitals, dialysis clinics and bariatric clinics. The Company's product lines include Pro-Stat(R), Fiber-Stat(R), UTI-Stat(R) and Diff-Stat(R) as well as private label products. Additional information is available at www.mdnu.com.