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

f 2013 was ($3.97) million, or ($0.03) per diluted share, compared to net loss of ($2.86) million, or ($0.04) per diluted share, in the comparable period in 2012. The increase in net loss was primarily driven by an increase in General and Administrative and Sales and Marketing expenses as the Company prepares for a national rollout of the STREAMWAY System.

"A great deal of our third quarter efforts have been focused on putting the final touches on the enhanced STREAMWAY System, which we have debuted in Q4, and solidifying partnerships and trials to continue the rapid adoption of our technology throughout the United States," said Josh Kornberg, CEO of Skyline Medical. "While our original version of the STREAMWAY System outperformed the market's expectations after our competitor's product was recalled last year, we are confident that the improved product is going to make the STREAMWAY System the go-to surgical fluid disposal system around the U.S. We are currently working with several national hospital and ambulatory surgical companies to ensure that is the case."

Kornberg continued, "Now that the technological modifications of our STREAMWAY System are complete, we will prepare for mass production and be able to fulfill a large backlog of purchase orders currently in our pipeline. These orders represent approximately $2 million in revenue of which approximately $1 million will be recurring on an annualized basis. We will begin to recognize these revenues immediately as they will impact our financial results starting over the next two quarters."

About Skyline Medical Inc.
Skyline Medical, formerly BioDrain Medical, Inc., has a fully automated, patented, FDA cleared, surgical fluid disposal system that virtually eliminates certain operating room workers' exposure to blood, irrigation fluid and other potentially infectious fluids found in the surgical environment. Today's manual surgical flu
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SOURCE Skyline Medical Inc.
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