BANGOR, Maine, Aug. 9 /PRNewswire-FirstCall/ -- Nyer Medical Group, Inc. today announced that its 80% owned pharmacy chain, D.A.W., Inc. d/b/a Eaton Apothecary (“Eaton”), expects sales to increase to $15.3 million or an increase of $1.84 million or 13.7% for the three months ended June 30, 2006 as compared to $13.46 million for the three months ended June 30, 2005. Sales for the twelve months ended June 30, 2006 are expected to increase to approximately $56.32 million or an increase of $3.43 million or 6.5% as compared to $52.89 million for the twelve months ended June 30, 2005. Eaton had record prescriptions filled for the three months ended June 30, 2006 to approximately 320,000, a 23.1% increase as compared to 260,000 for the three months ended June 30, 2005.
Eaton had record prescriptions filled for the twelve months ended June 30, 2006 to approximately 1,146,000, a 13.5% increase as compared to 1,010,000 for the twelve months ended June 30, 2005. The Company expects this trend to continue as baby boomers approach age 65 and due to the continued response to the government drug benefits program, Medicare Part D. The recent acquisition of the Connors Pharmacy in Gloucester, MA should also add approximately $4.4 million in annual sales and 78,000 in annual prescriptions for fiscal year 2007. Prescription volume in fiscal 2006 was the highest in Eaton’s history.
Karen Wright, President and Chief Executive Officer of Nyer Medical Group, Inc., stated, “We are very pleased with our sales growth and increased prescription volume in our pharmacy chain for fiscal year 2006. If this growth pattern increases as we anticipate, our annual sales should surpass $62 million for fiscal year end June 30, 2007.”
Nyer Medical Group, Inc. is a holding company that through its subsidiaries operates pharmacies in the greater Boston area and a medical products distribution business that distributes and markets medical equipment and supply products to hospitals, physicians and nursing homes using relationship-based telemarketing, direct sales personnel, catalogs and the Internet. These orders are filled by the Company’s distribution centers located in New England and South Florida.
For further information contact Jack Sutton, Alliance Capital Resources, Inc., (714) 524-9710.
Additional information concerning Nyer Medical Group, Inc. may be found on NYER’s website http://www.nyermedicalgroup.com.
Safe Harbor under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. All statements in this release that are not historical facts, including, without limitation, statements regarding the Company’s increase in sales, expected increase in prescriptions filled, continued growth, and achieving certain annual sales for fiscal year end of June 30, 2007 are forward-looking statements and are subject to risk and uncertainties. Such risks and uncertainties include, but are not limited to, any possible change in our core business and changes in the capital equity markets. Nyer Medical Group, Inc. does not undertake any obligation to update these forward-looking statements.
Nyer Medical Group, Inc.
CONTACT: Jack Sutton of Alliance Capital Resources, Inc., +1-714-524-9710
Web site: http://nyermedicalgroup.com/
