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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.

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    SOURCE Skyline Medical Inc.
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