CANTON, Conn., Feb. 16, 2012 /PRNewswire/ -- Kelyniam (Pinksheets: KLYG), is pleased to announce the 3rd and 4th quarter 2011 numbers consisting of revenues only derived from the medical device business.
While Kelyniam only received the 510k approval for Custom Skull Implants (CSI) in April of 2011, the company was thrilled to be able to receive and fulfill several orders during the 3rd quarter, even before our commercial launch in September. Revenues for the 3rd quarter of 2011 were $63,821. This clearly demonstrates demand for our product.
4th quarter revenues were $46,800. Fewer surgeries were scheduled around the holidays in December and due to the real-time and custom nature of our products some orders were pushed into the first quarter of 2012. This resulted in 4th quarter revenues slightly lower than Q3 revenues. "2011 closes a year of major milestones for Kelyniam. We look forward to building on the momentum in 2012," said President and CEO Tennyson Anthony.
The unaudited revenues for the 3rd and 4th quarter of 2011 are as follows:Kelyniam Global, IncorporatedCondensed Statement of Income (loss)Dec 31, 2011
Sept 30, 2011OPERATING REVENUERevenues
63,821Cost of revenue
7,972OPERATING EXPENSEGeneral, administrative and selling expenses
29,799Professional fees8,412Total operating expense
(30,240)OTHER INCOME (EXPENSE)Interest expense (net)
(1,259)Loss on sale of securities(1,680)Total other income (expense)
(31,920)Other comprehensive loss:
-- Unrealized loss on investment securities
--Total comprehensive income (loss)
(31,920)Shares issued and outstanding
|SOURCE Kelyniam Global Inc.|
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