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ULURU Inc. Reports Third Quarter 2007 Results
Date:11/13/2007

ADDISON, Texas, Nov. 13 /PRNewswire-FirstCall/ -- ULURU Inc. (Amex: ULU) reported financial results today for the quarter and nine months ended September 30, 2007.

For the quarter ended September 30, 2007, the net loss attributable to common stockholders was $1,240,000, or $0.02 per share, compared to a net loss of $3,994,000, or $0.31 per share, for the corresponding period in 2006. For the nine months ended September 30, 2007, the net loss attributable to common stockholders was $3,296,000, or $0.05 per share, compared to a net loss of $8,524,000, or $0.70 per share, for the nine months ended September 30, 2006. The net loss was impacted by non-cash expenses related to stock options accounted for in accordance with SFAS 123(R) "Share Based Payment" of $140,000 and $361,000, for the quarter and nine months ended September 30, 2007, respectively, (compared with no expense for the corresponding periods in 2006) and by the amortization of our intangible assets of $272,000 and $806,000 for the quarter and nine months ended September 30, 2007, respectively.

Income Statement

Revenues for the third quarter of 2007 were $130,000, compared with $113,000 for the same period last year. The overall increase of $17,000 is primarily due to increased licensing fees of $14,000 for OraDisc(TM) B and increased sponsored research of $21,000. These positive factors were partially offset by a decrease in royalties for the third quarter of 2007 associated with the international sales of Zindaclin(R) due to product launches in 2006.

Total costs and expenses increased by $546,000 in the third quarter of 2007 to $1,567,000, compared with the corresponding period in 2006 where total costs and expenses were $1,021,000. General and administrative expenses were primarily responsible for the increase, as these expenses increased from $351,000 in the second quarter 2006 to $821,000 in 2007, a $470,000 increase. Increased costs include legal expenses for patent pros
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SOURCE ULURU Inc.
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