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Nephros Reports Second Quarter 2012 Financial Results
Date:8/14/2012

RIVER EDGE, N.J., Aug. 14, 2012 /PRNewswire/ -- Nephros, Inc. (OTC Bulletin Board: NEPH), a global medical device company developing and marketing filtration products for therapeutic applications, infection control, and water purification, announced today financial results for the three and six months ended June 30, 2012.

Recent Highlights

  • Appointed Frank Zumbo, Denise Pappas, and Stephen Bob as Regional Sales Managers to focus on ultrafilters in dialysis and hospital markets
  • New distributor agreements signed with Vantage Water and OnLine Sales for distribution of water and bicarbonate ultrafilters
  • Initial shipment of UF-30L Military ultrafilters
  • First European water filter order processed through Nephros International
  • New Nephros website launched

"The second quarter of 2012 focused on strategic alignment followed by execution," said John C. Houghton, President and CEO of Nephros.  "As a result of the strategic agreement with Medica, we are now able to offer a full range of ultrafiltration products worldwide.  The initial expansion of our sales team and our newly executed distributor agreements provide the foundation for sales growth in the United States, I next look forward to implementing our European sales strategy.  In parallel, Nephros will continue to evaluate opportunities to leverage the resources of a strategic partner to most effectively market our recently cleared hemodiafiltration system, while continuing to foster our ongoing cooperation with the U.S. military."

Financial Performance for the Second Quarter Ended June 30, 2012 

For the quarter ended June 30, 2012, Nephros recognized total net revenues of approximately $302,000 compared with $637,000 in the corresponding period of 2011, a decrease of $335,000 or 53%.

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SOURCE Nephros, Inc.
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