|Monday June 4, 3:22 pm Eastern Time|
Medi-Hut Co., Inc. Announces Second Quarter Results
LAKEWOOD, N.J.--(BW HealthWire)--June 4, 2001--Medi-Hut Co., Inc. (OTC BB:MHUT - news) announces that it closed the second quarter 2001 (ending April 30, 2001) with sales of $2,314,506 and with a six month total sales of $4,513,986 compared to combined sales of $3,495,050 for the first six months of 2000.
This represents a 29% increase in sales for the first six months 2001 compared to the same time period for the prior year.
Medi-Hut also reports a pre-tax profit of $226,481 versus a pre-tax profit of $106,778 for the same quarter a year ago. This represents a 112% increase in pre-tax profit for this quarter, and .01 EPS. Further information about the recently filed 10-QSB can be accessed via www.freeedgar.com.
``We are very excited about Medi-Hut's growth. We continue to grow in terms of sales, exposure and visibility in the marketplace,'' said Joseph Sanpietro, President of Medi-Hut.
During the second quarter, Medi-Hut witnessed the following accomplishments:
Filed its application for listing on Nasdaq Small Cap.
Began series of presentations to financial and healthcare professionals in various cities.
Incorporated breakthrough interchangeable needle design into its passive 3cc Elite Safety Syringe.
Progressed towards full automation of the 1cc syringe, which occurred during early third quarter.
Medi-Hut Co., Inc. was founded in 1982 and began trading publicly in February 1998. The company private labels and markets its own ``Elite'' brand insulin syringes, condoms, alcohol preps and hot and cold packs, etc. as well as its TRU- Choice brand of OTC Drug Products.
Medi-Hut Co., Inc. manufactures its own Elite brand anti-stick safety syringe that incorporates a transparent sleeve, which covers the needle automatically after use.
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are ``forward looking statements'' within the meaning of Section 27A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term defined in the Private Securities Litigation Reform Act of 1995.
The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.
Medi-Hut Co., Inc.
Joseph A. Sanpietro, 732/901-0606
Columbia Financial Group, Inc.
Brokers and Analysts, 888/301-6271