Nyer Medical Group, Inc. Announces Prescriptions Up 23.2% in Pharmacy Chain Preliminary Report for 4th Quarter Fiscal 2006
Posted on: Thursday, 27 July 2006, 12:01 CDT
BANGOR, Maine, July 27 /PRNewswire-FirstCall/ -- Nyer Medical Group, Inc. today announced that its 80% owned pharmacy chain, D.A.W., Inc. d/b/a Eaton Apothecary reported preliminary prescription results for the fourth quarter of fiscal year 2006. Prescriptions for the three months ended June 30, 2006 increased by approximately 60,000 or 23.2% to approximately 320,000 as compared to 260,000 for the three months ended June 30, 2005. Prescriptions for the twelve months ended June 30, 2006 increased by approximately 136,400 or 13.5% to approximately 1,146,000 as compared to 1,009,600 for the twelve months ended June 30, 2006.
The Company expects prescription volume to increase as baby boomers approach 65 and as there is a continuing response to the government drug benefits program, Medicare Part D, which began in January of 2006. In fiscal 2005, the Company opened three new locations of which two of these locations dispense prescriptions utilizing the 340B program. In April 2006, the Company acquired a pharmacy in Gloucester, MA. Eaton believes its advertising campaign the past few years has succeeded in generating increased sales. Prescription volume in fiscal 2006 was the highest in Eaton's history.
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, the statement that the Company expects prescription volume to increase 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 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/
Source: PRNewswire-FirstCall
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