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Nephros Reports Second Quarter 2011 Financial Results
Date:8/15/2011

RIVER EDGE, N.J., Aug. 15, 2011 /PRNewswire/ -- Nephros, Inc. (OTC Bulletin Board: NEPH) announced today financial results for the three months ended June 30, 2011.

Recent Highlights

  • Completed Licensing Agreement with Bellco S.r.l.;
  • Received first installment payment of euro 500,000 from Bellco S.r.l.;
  • Obtained U.S. FDA 510(k) approval for MSU and SSU;
  • Obtained approval to market Dual Stage Ultrafilters (DSU) in Canada;
  • Engaged DHR International for CEO recruitment; and
  • Submitted U.S. FDA 510(k) application for clearance of Hemodiafiltration System in U.S.

Financial Performance for the Second Quarter Ended June 30, 2011 (Unaudited)

For the quarter ended June 30, 2011, Nephros recognized net product revenues of approximately $637,000 compared with $809,000 in the corresponding period of 2010, a decrease of $172,000 or 21%. The decrease is primarily attributable to a decrease in sales of the OLpur™ MD 190 and MD 220 products in Europe of approximately $136,000 or 29% in the second quarter of 2011 compared to the same period in 2010 and an approximately $84,000 or 39% decrease in revenue related to the contract with the Office of U.S. Naval Research recognized in the second quarter of 2011 compared to the same period in 2010.  The decrease in Europe's sales was due to the anticipated execution of the Licensing Agreement signed with Bellco S.r.l., which was effective July 1, 2011.

Sales of Dual Stage Ultrafilters (DSUs) in the United States increased by approximately $32,000 or 25% in the second quarter of 2011 compared to the same period in 2010. Revenue in the amount of $16,000 related to the STERIS project was recognized in the second quarter of 2011.  There was no STERIS project or related revenue in the comparable peri
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SOURCE Nephros, Inc.
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Related medicine technology :

1. Nephros Completes Pivotal U.S. Clinical Trial for its Hemodiafiltration Products
2. Nephros Reports 2009 Third Quarter Financial Results
3. Nephros Signs Canadian Distribution Agreement with Bellco Health Care Inc.
4. Nephros Signs Development Agreement with STERIS
5. Nephros Reports 2010 First Quarter Financial Results
6. Nephros and AmeriWater Announce Dual Stage Ultrafilters to be a Standard Component of MRO Series Water Treatment Systems
7. Nephros Receives Formal Response from FDA for 510(k) Application for Hemodiafiltration System
8. Nephros Reports 2010 Second Quarter Financial Results
9. Nephros Completes Bridge Financing and Announces Stockholder Rights Offering
10. Nephros Reports 2010 Third Quarter Financial Results
11. Nephros Rights Offering Registration Statement Declared Effective
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