Date: March 7, 2007
Source: Sharps Compliance Corp.
Sharps Compliance Corp. Announces $1.4 Million Pharmaceutical Manufacturing Order
Sharps Compliance Corp. (OTCBB: SCOM), leading providers of cost-effective medical waste disposal solutions for industry and consumers, today announced the Company's first major order, valued at $1.4 million, from a recognized pharmaceutical manufacturer. Sharps product and service package for this customer includes the Sharps Disposal by Mail System®, fulfillment services including product shipment direct to the pharmaceutical manufacturer's patients and data services utilizing the Company's proprietary SharpsTracer ™ system.
Dr. Burt Kunik, Chairman, Chief Executive Officer and President of Sharps Compliance Corp. commented, "We believe the receipt of this order with a well-known pharmaceutical manufacturer is the result of not only our intense marketing efforts but also recognition by the industry of the need for the proper disposal of used syringes by their patients. Our flagship product, the Sharps Disposal by Mail System®, is now recognized as a comprehensive solution for the proper disposal method for syringes used to administer a chronic drug by home self-injectors.
"Strategically, we see the pharmaceutical manufacturing market as a significant opportunity to fill the need for the proper disposal of used syringes administered in the home setting. As a vertically-integrated provider of disposal services to the small quantity generator market, we believe that the Company is uniquely positioned to handle significant volumes of sharps medical waste for many markets including pharmaceutical manufacturing. We have broadened our marketing efforts to include several other major pharmaceutical manufacturers to provide our mail back product to facilitate the disposal of syringes used to administer other home self-injectible chronic disease drugs. As the leader in the mail back industry, we believe Sharps is well positioned to capture a significant portion of this emerging market," Dr. Kunik added.
The entire order is expected to be completed in calendar year 2007, with approximately $300,000 in revenue to be recognized in the quarter ending March 31, 2007. The Company has received an advance payment of $225,000 toward this initial portion of the order.
About Sharps Compliance Corp.
Headquartered in Houston, Texas, Sharps Compliance is a leading provider of cost-effective medical waste disposal solutions for industry and consumers. The Company's flagship product, the Sharps Disposal by Mail System®, is a cost-effective and easy-to-use solution to dispose of medical waste such as hypodermic needles, lancets and any other medical device or objects used to puncture or lacerate the skin (referred to as "sharps"). The Company also offers a number of products specifically designed for the home healthcare market. Sharps Compliance focuses on targeted growth markets such as the pharmaceutical, retail, commercial, and hospitality markets, as well as serving a variety of additional markets. Sharps is a leading proponent and participant in the development of public awareness and solutions for the safe disposal of needles, syringes and other sharps in the community setting.
As a fully integrated manufacturer providing customer solutions and services, Sharps Compliance's solid business model, with high margins, significant operating leverage, and early penetration into emerging markets, uniquely positions the company for strong future growth.
The Company is the exclusive supplier of Sharps Disposal by Mail Systems® to the Consumer Health Care division of Becton, Dickinson and Company. Sharps also maintains an exclusive sales and marketing arrangement with Waste Management, Inc. whereby Sharps provides safe disposal systems and related services for Waste Management's residential and commercial customers.
More information on Sharps Compliance can be found on its website at: www.sharpsinc.com.
Sharps Compliance Corp.
Executive Vice President, Chief Financial Officer
& Business Development
David P. Tusa, 713-660-3514
Kei Advisors LLC.
Tammy Swiatek, 716-843-3853