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Bacterin Second Quarter 2011 Revenues up 135% Over Prior Year, Driving First Positive EBITDA Quarter
Date:8/11/2011

BELGRADE, Mont., Aug. 11, 2011 /PRNewswire/ -- Bacterin International Holdings, Inc. (NYSE Amex: BONE), a leader in the development of revolutionary bone graft material and antimicrobial coatings for medical applications, reported results for the second quarter ended June 30, 2011.

Financial Highlights: Q2 2011 vs. Q2 2010

  • Revenues up 135% to record $7.5 million, marking seventh consecutive quarter of record revenues.
  • Net loss improved by $1.6 million to $405,000 or $(0.01) per share.
  • Reported first positive EBITDA quarter of $35,000, as compared to EBITDA loss of $930,000 in the second quarter of the prior year.

  • Q2 Operational Highlights

  • Launched third human acellular biological scaffold, hMatrix®, an acellular dermal scaffold, which Bacterin plans to initially market for homologous use indications, including abdominal wall repair, breast reconstruction, and wound covering – an addressable market the company estimates exceeds $2.5 billion annually in the U.S.
  • Signed second national group purchasing organization contract for Bacterin Biologics and first for Elutia® Wound Drains with ROi, a recognized leader in health care supply chain management for hospitals and medical practices.
  • Raised approximately $3 million in private placement offering.
  • Joined Russell 3000, Russell Microcap, and Russell Global Indexes.

  • Q2 2011 Financial ResultsRevenues for the quarter increased 25% sequentially to a record $7.5 million from $6.0 million in the previous quarter, and up 135% compared to $3.2 million in the second quarter of 2010. For the first half of 2011, revenues totaled a record $13.5 million, up 128% versus $5.9 million in the same period in 2010. The increase in revenue is primarily attributable to the continued broader use of the company's biological products, a
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    SOURCE Bacterin International, Inc.
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