Скачать или смотреть ETELIGIS, Skyline Medical Inc. Announces Second Quarter 2014 Results

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SOURCE:Skyline Medical, Inc.


8/8/2014 6:01:24 AM


Skyline Medical, Inc.

Skyline Medical Inc. Announces Second Quarter 2014 Results

17 STREAMWAY® units sold; 17 trials in progress or scheduled for 2014 --- Capital obtained to support sales and manufacturing activities



MINNEAPOLIS, MN , United States, via ETELIGIS INC., 08/08/2014 - - Skyline Medical Inc. (OTCQB: SKLN), producer of the FDA-approved STREAMWAY® System for automated, direct-to-drain medical fluid disposal, today reported its results for the second quarter ended June 30, 2014.



Key Highlights:

-Completed private placement commencing in July, in the form of two convertible notes, resulting in proceeds of $500,000 and $100,000

-17 STREAMWAY units were sold in the quarter; up from 3 sold in Q1

-Revenues were $318,293, an increase of 110% year over year

Skyline now has 54 total systems sold in the market place

-Gross Profit increased to 67% from 61% over the first six months

Recurring consumable revenue was $142,138, increasing 36% year over year



Revenues and expenses

Revenues for the second quarter of 2014 were $318,293, a year over year increase of 110% compared to $151,856 for the same period in 2013. Gross profit for the second quarter of 2014 was $219,928, an increase of 163% compared to $83,521 for the same period in 2013. Net loss for the period was ($1.7) million, or ($0.01) per diluted share, compared to net loss of ($1.2) million, or ($0.01) per diluted share, in the three months ended June 30, 2013.

“Our new sales team has been successful in securing sales and repeat business from major hospital chains across the U.S., which we believe is a positive step toward gaining credibility and recognition within the market,” stated Josh Kornberg, CEO of Skyline Medical. “This quarter we have sold and installed 17 units plus have 17 additional STREAMWAY systems for trials during the upcoming quarters.”

“We have also been encouraged by the positive feedback we have received from medical staffs on the latest version of the STREAMWAY system. The enhanced version allows for unlimited capacity, with no interruption during high volume surgeries for changing canister systems, has an easier to use menu driven digital color display, has increased data storage capacity and has new filters with tissue traps allowing for four lines. Our sales and distribution teams will continue to intensively build awareness of our state-of-the-art technology and to educate medical practitioners on the health and cost benefits associated with adopting our automated, direct-to-drain solution to surgical waste management,” concluded Mr. Kornberg.

About Skyline Medical Inc.

Skyline Medical Inc. produces a fully automated, patented, FDA-cleared, waste fluid disposal system that virtually eliminates staff exposure to blood, irrigation fluid and other potentially infectious fluids found in the healthcare environment. Antiquated manual fluid handling methods — which require hand carrying and emptying filled-fluid canisters — present an exposure risk and potential liability. Skyline Medical's STREAMWAY System fully automates the collection, measurement and disposal of waste fluids and is designed to: 1) reduce overhead costs to hospitals and surgical centers, 2) improve compliance with Occupational State and Health Association (OSHA) and other regulatory agency safety guidelines, 3) improve efficiency in the operating room, and radiology and endoscopy departments — leading to greater profitability, and 4) provide greater environmental stewardship by helping to eliminate the approximately 50 million potentially disease-infected canisters that go into landfills annually in the United States. For additional information, please visit: www.skylinemedical.com.



CONTACT:

Skyline Investor Relations Contacts:

Phil Carlson / Elizabeth Barker

KCSA Strategic Communications

212-896-1233 / 212-896-1203

[email protected]