KENNESAW, Ga., April 4, 2012 /PRNewswire/ -- MiMedx Group, Inc. (OTCBB: MDXG), an integrated developer, manufacturer and marketer of patent protected regenerative biomaterials and bioimplants processed from human amniotic membrane, announced today that the Company has slightly exceeded its revenue goal for the first quarter of 2012. The Company's revenue goal for the first quarter 2012 was $3.6 million.
The Company also reported that several large orders were received late in the quarter that will be shipped early in April, and the revenue for these shipments will be reflected in the Company's financial results for the second quarter 2012.
"At this stage in our early and rapid growth, predicting quarterly revenue with any degree of accuracy is very difficult," said Parker H. "Pete" Petit, Chairman and CEO. "We have all worked very hard to achieve these results, and we are pleased that we now have two sequential quarters where we have met or exceeded our revenue goals. Based on the momentum we have created, we believe our previously communicated revenue goal of $23 million for full year 2012 is still attainable."
MiMedx® is an integrated developer, manufacturer and marketer of patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane. "Innovations in Regenerative Biomaterials" is the framework behind our mission to give physicians products and tissues to help the body heal itself. Our biomaterial platform technologies include the device technologies HydroFix® and CollaFix™, and our tissue technologies, AmnioFix® and EpiFix®. Our tissue technologies, processed from the human amniotic membrane, utilize our proprietary Purion® Process that was developed by our wholly-owned subsidiary, Surgical Biologics, to produce a safe, effective and minimally manipulated implant for homologous use. Surgical Biologics
|SOURCE MiMedx Group, Inc.|
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