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Derma Sciences Reports Second Quarter 2009 Results
Date:8/17/2009

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  • The Company's 2009 second quarter operating results improved by $709,986 as the net loss for the quarter was $560,502, or $0.01 per share, compared to a net loss of $1,270,488 million, or $0.03 per share, in 2008. Operating results for the first six months of 2009 improved by $1,361,695 million as the net loss was $1,318,581 million, or $0.03 per share, compared to a net loss of $2,680,276 million, or $0.07 per share, for the same period in 2008.
  • The Company's overall cash flow has improved significantly in the first half 2009 versus 2008. This turn around is principally attributable to the Company's positive cash flow from operating activities of $198,492 in 2009 versus a use of cash of $5,258,033 from operating activities in 2008.
  • For the three months ended June 30, 2009, the Company reported net sales of $11.6 million versus $13.1 million in the second quarter 2008. For the six months ended June 30, 2009, net sales were $22 million versus $24.8 million for the six months ended June 30, 2008. The decrease of $1.5 million in sales for the quarter and $2.8 million for the six months in 2009 versus 2008, was principally driven by lower sales from the First Aid Division, attributed to a weakening of the economy. In addition there was a decrease in Canadian net sales attributable to unfavorable exchange and inventory rationalization on the part of the Company's exclusive Canadian distributor.

    Ed Quilty, Chief Executive Officer of Derma Sciences, commented, "A steady performance from our core business during the second quarter generated improvement in operating results and cash flow, allowing us to continue to focus on driving revenue for some of our newer products such as MEDIHONEY and BIOGUARD. As our results indicate, our Advanced Wound Care Line is gaining traction through the efforts of our sales team. The decrease in year over year sales is mostly related to our First Ai
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    SOURCE Derma Sciences, Inc.
    Copyright©2009 PR Newswire.
    All rights reserved

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