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MedClean Technologies Announces Third Quarter Results
Date:11/14/2011

gations and meeting revenue recognition policies totaling $445,200 versus $0 for the period in 2010.  Revenues derived from the sale of consumables, component parts, service billings, and amortization of maintenance contracts decreased by $149,079 or 48.6% in the current quarter to $157,146.  The decrease in service billings was a result of fewer service calls required due to equipment issues. Service billings will continue to fluctuate period to period based upon equipment service requirements.

Gross profit on system revenue during the three months ended September 30, 2011, was $156,443 compared to $0 for the same period in 2010. Gross profit on the sale of consumables, component parts, service billings and amortization of maintenance contracts during the three months ended September 30, 2011, was $91,608 compared to $253,741 for the same period in 2010.

Net loss for the three month period ended September 30, 2011, was $648,746, compared to a loss of $750,158 for the same period in 2010.

Year-To-Date Financial Results:

Total revenue for the nine months ended September 30, 2011, was $1,387,127, compared with $707,450 for the same period in 2010, an increase of $679,677 or 96.1%. System revenue during the nine month ended September 30, 2011, was $895,200, compared to $0 in 2010. The increase in system revenue was the result of the completion of the Company's first containerized system and the installation of a fixed based system. Revenues derived from the sale of consumables, component parts, service billings and amortization of maintenance contracts decreased by $215,523 or 30.5% in the current period to $491,927. The decrease in service billings was a result of fewer service calls required due to equipment failure. Service billings will continue to fluctuate from period to period based upon equipment failure, whether through operator error or wear and tear, and pre-scheduled service activities such as equipment relocatio
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SOURCE MedClean Technologies, Inc.
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