TORONTO, Nov. 11, 2011 /CNW/ - Futuremed Healthcare Products Corporation
(the "Company") (TSX: FMD) announced today that it had participated in
a tendering process initiated by an important customer and has been
informed that distribution to this customer will be moved to a
competitor during the first quarter of 2012. The sales to the customer
in question during the most recent financial year represented
approximately 5% of revenues. The precise impact on the Company's
earnings in the future is difficult to assess as the Company is still
evaluating potential mitigation actions, but is likely to have a larger
impact on earnings than revenues.
Futuremed is Canada's leading value-added distributor of consumable nursing home supplies and specialized furniture and equipment to the growing
long-term care facilities sector.
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This news releases contains forward-looking statements relating to sales
to a customer and the impact of such customer's business on revenues
and earnings. These statements are not guarantees of future performance
and involve risks and uncertainties that are difficult to predict,
and/or are beyond the Company's control. A number of important factors
could cause actual outcomes and results to differ materially from those
expressed in these forward-looking statements. These factors include
those set forth in other public filings. In addition, these
forward-looking statements relate to the date on which they are made.
The Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information,
future events or otherwise. More information about these risks and
uncertainties can be found in regulatory filings available at www.sedar.com.
SOURCE Futuremed Healthcare Products Corporation
For further information:
Chief Financial Officer
(905) 761-0068, ext. 2222
Toll-free investor relations: 1-800-387-7025