SANTA CLARA, Calif., April 24 /PRNewswire-FirstCall/ --
Applied Imaging Corp. (Nasdaq: AICX) announced today that it has achieved its
fifth consecutive quarter of record revenues. Preliminary sales for the
quarter ending March 31, 2002 amounted to $5.0 million, a 27% increase over
last year's first quarter sales of $3.9 million. The Company achieved another
record with $0.7 million in sales of its MDS(TM) genetic testing systems.
"We believe that the superior performance of our cytogenetic and MDS(TM)
systems and the effectiveness of our sales and marketing strategy have
resulted in our strong performance," commented Carl Hull, Applied Imaging CEO.
"Revenues from our MDS(TM) system continue at record levels, reflecting
growing market demand for our unique gene probe imaging capabilities. I am
pleased that Applied Imaging is meeting its ambitious milestones."
Applied Imaging will report its first quarter financial results in a press
release after the market closes on Tuesday, May 7, 2002. This will be
followed by a management discussion of first quarter performance during the
Company's quarterly conference call scheduled for Wednesday, May 8 at
11:00 a.m. (EDT).
About Applied Imaging
Applied Imaging Corp., based in Santa Clara, California, is the leading
supplier of automated imaging systems utilized in genetics and pathology
laboratories for the analysis of chromosomes in cancer and prenatal disorders.
The Company markets a range of clinical and research imaging systems for
fluorescence and brightfield microscopy applications, including the Company's
MDS(TM), CytoVision(R), PowerGene(R) and QUIPS(R) product lines. Applied
Imaging has an installed base of over 2,500 systems in over 1,000 laboratories
in more than 60 countries.
This press release contains forward looking statements as defined in the
Private Securities Litigation Reform Act of 1995, regarding, among other
matters, the Company's preliminary sales estimates and the sales performance
of the MDS system. Forward looking statements address matters that are
subject to a number of risks, uncertainties and other factors that could cause
actual results to differ materially, as discussed in the Company's filings
with the Securities and Exchange Commission, including the form 10-K for the
year ended December 31, 2001.
For additional information on Applied Imaging please visit the Company's
web site at http://www.aicorp.com .
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SOURCE Applied Imaging Corp.
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Related links:
http://www.aicorp.com
CONTACT:
Barry Hotchkies, CFO of Applied Imaging
Corp., +1-408-562-0250; or James Hoyne (Investor/Media), or Pam
Roberts (General), both of FRB/Weber Shandwick, +1-415-986-1591,
for Applied Imaging Corp.
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