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ULURU Inc. Reports Financial Results for Fourth Quarter and Year Ending December 31, 2011
Date:4/2/2012

valents of approximately $215,000.

Revenues

Revenues for the fourth quarter of 2011 were $256,000, compared to $1,029,000 for the fourth quarter of 2010.  The decrease of approximately $773,000 in revenues from the fourth quarter of 2010 compared to the fourth quarter of 2011 was primarily due to decreased licensing fees as the prior year included the recognition of $751,000 in unamortized licensing fees.

For the year ending December 31, 2011, revenues were $485,000, compared to $1,557,000 for the same period of 2010.  The decrease of approximately $1,072,000 was due primarily to the following factors; a reduction of $988,000 in OraDisc™ related licensing fees and a decrease of $186,000 in Zindaclin® related licensing and royalty fees due to our divestiture of this product in September 2010, this was partially offset by increased product sales.

Research and Development

Research and development expenses for the fourth quarter of 2011 were $198,000, including $17,000 in share-based compensation, compared to $309,000, including $32,000 in share-based compensation, for the fourth quarter of 2010.  The decrease of approximately $111,000 in research and development expenses was primarily was due primarily to lower costs for direct research costs of $85,000.

For the year ending December 2011, research and development expenses were $950,000, including $70,000 in share-based compensation, compared to $1,260,000, including $136,000 in share-based compensation, for the same period in 2010. The decrease of approximately $311,000 in research and development expenses was due primarily to lower costs for regulatory fees of $140,000, direct research costs of $73,000, clinical testing costs for our wound care technologies of $46,000 and scientific compensation costs of $30,000.

Selling, general and administrative

Selling, general and administrative expenses for the fourth quarter o
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SOURCE ULURU Inc.
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