Emergency Filtration Products Reports 2005 Financial Results; Company Provides Update on Current NanoMask Filter Production
In the fourth quarter of 2005, the company generated revenues of $534,912, the majority of which were recorded in December as the company's Henderson facility increased production of its NanoMask filters. EFP has since opened a second and significantly larger production facility in Nogales, Mexico, where production of NanoMask filters -- coating precut filters with contaminant-killing nanoparticles -- has been underway for a month. EFP is now running two 12-hour shifts, utilizing the Nogales facility on a 24-hour basis, four days per week. A weekend shift is also planned in the near future to produce sufficient quantities of NanoMask filters in order to meet expected demand from large national and international accounts.
“International orders continue to be very strong and we are moving rapidly to close some large accounts in the United States and elsewhere”
"When we first decided to start manufacturing NanoMask filters in Nogales, we spent a couple of weeks carefully planning the design and functionality of the facility in order to arrive at the most efficient operational layout possible, and at the same time, give us maximum flexibility to rapidly ramp up production," said Douglas K. Beplate, president and CEO, EFP. "We are producing approximately 100,000 filters during our two 12-hour shifts, four days per week. Our unit costs are considerably lower in Nogales than at our Henderson facility. In Henderson, we have recently installed a high-speed bagging machine that is now operational in an effort to lower costs. Large orders will be shipped directly from Mexico to our overseas distributors and smaller orders will be shipped to Henderson for distribution. Our current manufacturing configuration in Nogales will allow us to quickly -- within two to three weeks -- ramp up production to at least three million filters per week if purchase orders dictate.
"International orders continue to be very strong and we are moving rapidly to close some large accounts in the United States and elsewhere," added Beplate. "John Masenheimer, who established our Nogales facility, has done a terrific job in Mexico, and we expect to be able to announce a series of large new customers in the near future."
About the NanoMask
EFP's 2H Nano-Enhanced Environmental Mask, the NanoMask, relies on the company's core 2H Technology(TM) filtration system, which utilizes a combination of hydrophobic and hydrophilic filters able to capture and isolate bacterial and viral microorganisms with efficiencies of 99.9%. The environmental mask utilizes the company's patented 2H Technology(TM) and nanotechnology to enhance the capture-and-isolation characteristics of the filter media.
About Emergency Filtration Products
EFP is an air filtration products manufacturer whose patented 2H Technology(TM) filter system has produced filtration efficiencies of "greater than 99.99%" at a particulate size of 0.027 microns. Its initial products were developed for the medical market: the Vapor Isolation Valve(TM) and RespAide(R) CPR Isolation Mask used for resuscitation of respiratory/cardiac arrest cases; and the 2H Breathing Circuit Filter for ventilators, respirators and anesthesia circuitry. Each has received FDA approval. The company also markets an Automated External Defibrillator Prep Kit featuring RespAide; and the NanoMask(R), a nanotechnology enhanced environmental mask. In addition to filtration products, the company supplies Superstat(R), a modified hemostatic collagen to the U.S. military for surgery and extreme wound care.
Safe Harbor Statement
This release may contain statements that are forward looking. Such statements are made based upon current expectations that are subject to risk and uncertainty. EFP does not undertake to update forward-looking statements in this news release to reflect actual results of and changes in assumptions or changes in other factors affecting such forward-looking information. The actual future results of the company could differ significantly from such forward-looking statements. Sales may be dependent on the success of future marketing campaigns, the signing of definitive agreements with additional distributors, and both the perceived need for EFP's products and the competitive performance of such products in the marketplace.