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Nephros Reports Third Quarter 2011 Financial Results
Date:11/14/2011

RIVER EDGE, N.J., Nov. 14, 2011 /PRNewswire / -- Nephros, Inc. (OTC Bulletin Board: NEPH) announced today financial results for the three months ended September 30, 2011.

Recent Highlights

  • Filed post-effective amendment allowing warrants associated with Rights Offering to be exercised;
  • Received initial review questions from FDA for 510(k) application for clearance of Hemodiafiltration System in U.S.

Financial Performance for the Third Quarter Ended September 30, 2011 (Unaudited)

For the quarter ended September 30, 2011, Nephros recognized total revenues of approximately $407,000 compared to approximately $622,000 for the three months ended September 30, 2010. Total revenues decreased approximately $215,000. The decrease of approximately 35% is due to decreased revenue of approximately $330,000 in direct sales of our MD filters in our Target European Market, approximately $19,000 or 15% less DSU sales, and decreased revenue of approximately $73,000 related to the STERIS project. These decreases were partially offset by approximately $20,000 or 20% higher revenue related to our contract with the Office of U.S. Naval Research and $187,000 of Bellco licensing revenue the three months ended September 30, 2011 compared to the same period in 2010.  Nephros recognized no MD product revenue from Europe during the third quarter as a result of the Licensing Agreement signed with Bellco S.r.l., which was effective July 1, 2011.

Operating expenses for the three months ended September 30, 2011 were approximately $734,000 compared with $696,000 in the corresponding period of 2010. The increase of approximately $38,000 is primarily related to an increase in selling, general and administrative expenses of approximately $30,000 or 5% in the third quarter of 2011 compared to the sa
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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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