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Nephros Reports 2012 Fourth Quarter and Full Year Financial Results
Date:3/4/2013

RIVER EDGE, N.J., March 4, 2013 /PRNewswire/ -- Nephros, Inc. (OTC Bulletin Board: NEPH), a commercial stage medical device company that develops and sells high performance liquid purification ultrafilters, announced today financial results for the three months and full year ended December 31, 2012.

2012 Highlights

  • Increased ultrafiltration product revenues to approximately $1,010,000, an increase of 63% from prior year period
  • Received €750,000 license payment from Bellco S.r.l.
  • Received FDA clearance for on-line mid-dilution Hemodiafiltration (mid HDF)
  • Executed License and Supply Agreement with Medica S.p.A.
  • Director of U.S. Sales engaged
  • Permanent CEO engaged
  • Introduced full range of hospital filters
  • First Military orders shipped

"2012 was a productive year for Nephros.  With the FDA clearance of our on-line mid-dilution HDF system, the execution of our license and supply agreement with Medica, significant growth in our dialysis and hospital water filtration businesses, and our first military orders we believe we are establishing a solid foundation in our core markets in the U.S.," said John C. Houghton , President and Chief Executive Officer of Nephros.  "We will continue to build upon this foundation in the U.S. and look to expand our presence in Europe as we progress through 2013."

Financial Performance for the Year Ended December 31, 2012

Total revenues for the year ended December 31, 2012 were approximately $1,807,000 compared to approximately $2,214,000 for the year ended December 31, 2011.  Total revenues decreased approximately $407,000, or 18% as a result of decreases of approximately $733,000 related to our
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SOURCE Nephros, Inc.
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