updated 6/13/2011 3:17:18 PM ET 2011-06-13T19:17:18

TORONTO, June 13, 2011 (GLOBE NEWSWIRE) -- Polydex Pharmaceuticals Limited (Pink Sheets:POLXF) (the "Company") reports financial results for the first quarter of fiscal 2012, the three-months ending April 30, 2011. All figures are reported in U.S. dollars.

  Q.1, ending 4/30/2011 Q.1, ending 4/30/2010
Sales $1,730,838 $1,293,329
Net Income 147,134 (83,136)
Income (loss) per common share 0.05  (0.03)
Weighted avg. common Shares outstanding (basic and diluted) 3,122,846 3,072,846

The company's long-standing reputation for consistent high-grade product has generated increasing interest in the company's core product line from both new and existing customers on a worldwide basis, resulting in an increased level of orders.

"It's great to see a return to profitability," says George Usher, President and CEO. "The plant is operating around the clock during the week, and our customers continue to indicate their needs for more product. We intend to remain vigilant with our quality-control and cost-management efforts, in order to produce the highest quality products needed to meet our customers' demands. Our continued efforts to increase profit margins and sales should help to meet our goal of increasing shareholder value."

The Company shares are traded on the Over the Counter Bulletin Board ( www.otcbb.com ). The company continues full disclosure of its financial and operational results, which can be accessed by visiting the company website at www.Polydex.com .     Product information is available at www.dextran.ca

Polydex Pharmaceuticals Limited, based in Toronto, Ontario, Canada, is engaged in the development, manufacture and marketing of biotechnology-based products for the human pharmaceutical market, and also manufactures bulk pharmaceutical intermediates for the worldwide veterinary pharmaceutical industry. 

The Polydex Pharmaceuticals Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3414

Note: This press release may contain forward-looking statements, within the meaning of the United States Securities Act of 1933, as amended, and the United States Securities Exchange Act of 1934, as amended, regarding Polydex Pharmaceuticals Limited, including, without limitation, statements regarding expectations about future revenues or business opportunities or potential research projects. These statements are typically identified by use of words like "may", "could", "might", "expect", "anticipate", "believe", or similar words. Actual events or results may differ materially from the Company's expectations, which are subject to a number of known and unknown risks and uncertainties including but not limited to changing market conditions, future actions by the United States Food and Drug Administration or equivalent foreign regulatory authorities as results of pending or future clinical trials. Other risk factors discussed in the Company's filings with the United States Securities and Exchange Commission may also affect the actual results achieved by the Company.              

CONTACT: Investor Relations:
         North Arm Capital Services
         Linda Hughes

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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