Financial Performance for the Second Quarter Ended June 30, 2014
Total net revenues for the three months ended June 30, 2014 were approximately $441,000 compared to approximately $575,000 for the three months ended June 30, 2013. Total net revenues decreased approximately $134,000, or 23%, arising from a decrease of approximately $143,000 in water filter sales on dialysis and commercial water partially offset by an increase of approximately $9,000 in licensing revenue related to the Bellco license agreement.
Total operating expenses for the quarter ended June 30, 2014 were $935,000 compared with $977,000 for the quarter ended June 30, 2013. The decrease was primarily driven by decreases in personnel costs as well as research and development costs which were partially offset by increases in professional services and legal fees during the quarter ended June 30, 2014 compared to the quarter ended June 30, 2013.
Net loss for the quarter ended June 30, 2014 was $654,000, or $0.03 per share (based on 25.2 million weighted average shares outstanding) compared to a net loss of $671,000, or $0.05 per share (based on 14.5 million shares outstanding) for the quarter ended June 30, 2013. As of June 30, 2014, the Company had approximately 25.2 million shares outstanding.
Nephros ended the second quarter of 2014 with cash of $225,000.
About Nephros, Inc.
Nephros is a commercial stage medical device company that develops and sells high performance liquid purification filters. Our filters, which we call ultrafilters, are primarily used in dialysis centers for the removal of biological contaminants from water, bicarbonate concentrate and/or blood.
We were founded in 1997 by healthcare professionals affiliated with Columbia University Medical Center/New York-Presbyterian Hospital to develop and commercialize an alternative method to hemod
|SOURCE Nephros, Inc.|
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