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Nephros Reports 2010 Fourth Quarter and Full Year Financial Results
Date:3/29/2011

RIVER EDGE, N.J., March 29, 2011 /PRNewswire/ -- Nephros, Inc. (OTC Bulletin Board: NEPHD), a medical device company developing and marketing filtration products for therapeutic applications, infection control, and water purification, announced today financial results for the three months and full year ended December 31, 2010.

2010 Highlights

  • Increased revenues by 10.4% to approximately $2,938,000 from prior year period
  • Increased gross margin by 22% to approximately $1,122,000 from prior year period
  • Reduced loss from operations by approximately $517,000 or 21% from prior year period
  • Signed development agreement with STERIS Corporation
  • Announced that AmeriWater adopted the Nephros DSU as a standard component of its portable reverse osmosis water treatment systems for dialysis
  • Six new patents granted

"Due to financial constraints and regulatory burdens, 2010 was a challenging year for Nephros.  Despite these challenges, we have continued to lay the foundation for success," said Dr. Paul Mieyal, Acting CEO of Nephros.  "With our recently completed financing activities, Nephros is better positioned in 2011 to take advantage of the attractive opportunities which continue to evolve for the Company's products.  We are looking forward to an exciting year with continued efforts to reward the Company's shareholders for their support."

Financial Performance for the Year Ended December 31, 2010

Revenues for the twelve months ended December 31, 2010 were approximately $2,938,000 compared to approximately $2,661,000 in the corresponding period of 2009, an increase of approximately 10%. The Company's net loss was approximately $1,933,000 or $0.93 per basic and diluted loss per common share for the twelve months ended December 31, 2010 compared with
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SOURCE Nephros, Inc.
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