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Skyline Medical Announces Results for Third Quarter and First Nine Months of 2013
Date:11/14/2013

MINNEAPOLIS, Nov. 14, 2013 /PRNewswire/ -- Skyline Medical Inc. (OTCQB: SKLN) (the "Company"), the producer of the FDA approved STREAMWAY System for automated, direct-to-drain surgical fluid disposal that reduces the risk of exposure to hazardous waste, today reported its results for the third quarter and nine months ended September 30, 2013.

Key Highlights:

  • Revenues were $107,835 and $386,418 for Q3 and first nine months of 2013, up more than 108% and 289% compared to Q3 and first nine months of 2012;
  • More than 50 purchase orders were received in Q3 2013 for Skyline's improved STREAMWAY System, scheduled for delivery in Q4 and beyond;
  • Company strengthened balance sheet through conversion of all convertible notes;
  • Company entered Virginia market with multi-unit purchase from Ambulatory Surgical Center;
  • Skyline expanded its presence in Florida with multiple unit sale to a major hospital;
  • Increased sales force to support national and international rollout of STREAMWAY System;
  • National ambulatory surgical center chain client doubles initial Q2 2013 order fully replacing Skyline competitor; and
  • Company became a member of Practice GreenHealth as it continues its focus on being environmentally friendly.
  • Third quarter revenues rose to $107,835, up more than 108% compared to $51,615 for the third quarter in 2012. Year to date revenues rose to $386,418, compared to revenues of $99,210 year to date in 2012. Gross profit for the third quarter of 2013 was $81,654, an increase from ($18,347) for the same period in 2012. The Company has been holding off on a significant backlog of purchase orders due to Skyline's preparation for the mass production of its enhanced STREAMWAY System with the backlog contributing to expected increased revenues through Q4 and beyond.

    Net loss for the third quarter o
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    SOURCE Skyline Medical Inc.
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