ULURU Inc. Reports First Quarter 2008 Financi... ( ADDISON Texas May 12 /- ULURU Inc...)

ULURU Inc. Reports First Quarter 2008 Financial Results

Date:5/12/2008

ADDISON, Texas, May 12 /PRNewswire-FirstCall/ -- ULURU Inc. (Amex: ULU) today reported financial results for the first quarter ended March 31, 2008.

For the quarter ended March 31, 2008, the net loss attributable to common stockholders was $1,815,000, or $0.03 per share, compared to a net loss of $847,000, or $0.01 per share, for the corresponding period in 2007. The first quarter 2008 net loss was impacted by non-cash expenses of $497,000, which included stock option expense, amortization, and depreciation of $208,000, $269,000 and $20,000, respectively, whereas the first quarter 2007 net loss included non-cash expenses of $385,000, which included stock option expense, amortization, and depreciation of $103,000, $265,000 and $17,000, respectively.

Income Statement

Revenues for the first quarter of 2008 were $256,000, compared with $384,000 for the same period last year. The decrease of $127,000 in revenues is comprised of a decrease in licensing of $124,000 and a decrease in sponsored research of $190,000, as both of the prior year revenue components were non-recurring. These two decreases were partially offset by an increase of $20,000 in royalty income associated with our Zindaclin(R) product and $167,000 in Aphthasol(R) product sales to our domestic distributor.

Total costs and expenses, including amortization and depreciation, increased by $753,000 in the first quarter of 2008 to $2,196,000, compared with the corresponding period in 2007 where total costs and expenses, including amortization and depreciation, were $1,443,000. The overall expense increase is primarily attributable to increases in Research and Development of $310,000, increases in General and Administrative of $298,000, and Cost of Goods Sold
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