E-Z-EM Receives Additional Order for RSDL from U.S. Department of Defense
August 06 2007 - 12:44PM
Business Wire
E-Z-EM, Inc. (NASDAQ:EZEM) today announced that the U.S. Army Space
& Missile Defense Command (USASMD) has placed an additional
order for the Company�s RSDLTM personal skin decontamination
product. The approximately $8 million order is the second such
order placed by the U.S. Department of Defense (DoD) since it
issued Milestone C approval for the product, and is the largest
single order for RSDL the Company has received to date. The Company
expects to ship and invoice for the order by April 2008 with
resulting revenues recognized as the product is shipped. Commenting
on the announcement, Anthony A. Lombardo, President and CEO of
E-Z-EM, said, �We are especially pleased with this order as the DoD
has exceeded our original estimate for procurement of RSDL in the
government�s 2007 fiscal year. Additionally, we are pleased the DoD
placed this follow-on order so quickly after their initial
procurement of RSDL in March of 2007. We believe this demonstrates
the importance with which the DoD views RSDL and its ability to
provide our troops with improved protection against chemical
weapons agents.� About RSDL RSDL is a patented, broad spectrum skin
decontamination product intended to remove or neutralize chemical
warfare (CW) agents or T2 toxins from the skin. RSDL was originally
developed�and patented by�Defence Research and Development Canada,
an agency within the Canadian Department�of National
Defence,�for�use by the Canadian Forces. RSDL has since been
adopted by several military services around the world. RSDL is
produced by EZEM�under a�License�with�Defence Research and
Development Canada (DRDC). RSDL has since been adopted by several
military services around the world. RSDL received Milestone C
approval from the Joint Program Executive Office for Chemical
Biological Defense (JPEO-CBD), a decision that cleared the way for
procurement by the individual service branches of the DoD. The US
Food and Drug Administration (FDA) issued 510(k) clearance for RSDL
in March of 2003. The U.S. DoD began final configuration testing on
the product in November of 2003 and authorized the sale of RSDL to
first responder organizations in September of 2004. In September
2006, RSDL was awarded Safety Act certification by the U.S.
Department of Homeland Security (DHS), which extends certain
liability protections to the Company and its suppliers and
customers (whether public or private) in the event RSDL is used in
response to a terrorist incident. About E-Z-EM, Inc. E-Z-EM is a
publicly traded healthcare company founded in 1962, and has since
established itself as one of the most recognized brands in
diagnostic imaging of the GI tract. From the first barium contrast
systems introduced over 40 years ago, to today's advanced products
for CT imaging and virtual colonoscopy, E-Z-EM has continually
developed innovative imaging and diagnostic solutions for
physicians treating GI diseases. E-Z-EM is also a respected
contract manufacturer of specialized liquid products, and has been
the exclusive global manufacturer of RSDL� since 1996. In April of
2005, E-Z-EM completed the acquisition of all assets associated
with RSDL, and now is the product's exclusive worldwide marketer to
first-responder organizations and military services. The statements
made in this document contain certain forward-looking statements.
Words such as �expects,� �intends,� �anticipates,� �plans,�
�believes,� �seeks,� �estimates� or variations of such words and
similar expressions, are intended to identify such forward-looking
statements. The forward-looking statements contained in this
release may involve numerous risks and uncertainties, known and
unknown, beyond the Company�s control. Such risks and uncertainties
include: the ability of the Company to develop its products,
placement of further DoD orders for RSDL, the timing of revenue
recognition for RSDL and its impact on the Company's financial
results, the impact on future sales of SAFETY Act designation and
certification for RSDL, future orders of RSDL by first responder
organizations, general military and first-responder market
acceptance and sales of RSDL, future actions by the FDA or other
regulatory agencies, overall economic conditions, general market
conditions, price increases of raw materials and components,
foreign currency exchange rate fluctuations as well as the risk
factors listed from time to time in the SEC filings of E-Z-EM,
Inc., including but not limited to its Annual Report on its Form
10-K for the fiscal year ended June 3, 2006 and its Form 10-Q for
the quarter ended March 3, 2007. Consequently, actual future
results may differ materially from the anticipated results
expressed in the forward-looking statements, and investors are
cautioned not to place undue reliance on the forward-looking
statements included in this release.
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