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Pressure BioSciences, Inc. Reports Third Quarter 2013 Financial Results and Provides Business Update
Date:11/7/2013

SOUTH EASTON, Mass., Nov. 7, 2013 /PRNewswire/ -- Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company") today announced record financial results for the three and nine-month periods ended September 30, 2013 and provided a business update.

Total revenue for the third quarter of 2013 was $420,762 compared to $391,616 for the same period in 2012, a 7% increase.  Revenue from the sale of products and services was $327,958 for the third quarter of 2013 compared to $297,867 for the same period in 2012, an increase of 10%. Grant revenue for the third quarter of 2013 was $92,804 compared to $93,749 for the comparable period in 2012. Sales of consumables were $51,450 for the three months ended September 30, 2013 compared to $27,993 for the same period in 2012, an increase of 84%.

Operating loss for the third quarter of 2013 increased to $844,033, from $686,520 for the same period in 2012.  Contributing to this increase were costs associated with the expansion of our strategic marketing and sales alliance with Constant Systems and with our marketing and sales plan in general, with the development of our new High Throughput ("HT") and HUB880 Barocycler instruments, and quarter over quarter cost increases in patent, investor relations, and outside services.

Total revenue for the nine months ended September 30, 2013 was $1,149,236 compared to $1,022,185 for the same period in 2012, a 12% increase.  Revenue from the sale of products and services was $746,050 for the nine months ended September 30, 2013 compared to $687,023 for the same period in 2012, a 9% increase.  Sales of consumables generated revenue of $104,708 for the nine months ended September 30, 2013 compared to $66,869 for the same period in 2012, an increase of 57%.

Operating loss for the nine months ended September 30, 2013 was $2,427,082 compared to $2,333,892 for the same period in 2012.

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SOURCE Pressure BioSciences, Inc.
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