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ULURU Inc. Reports First Quarter 2011 Financial Results
Date:5/17/2011

ADDISON, Texas, May 17, 2011 /PRNewswire/ -- ULURU Inc. (NYSE AMEX: ULU) today announced its financial results for the first quarter ended March 31, 2011.

For the first quarter of 2011, the Company reported a net loss of $1.1 million, or $0.01 per share, compared with a net loss of $1.3 million, or $0.02 per share, for the same period last year.  At March 31, 2011, the Company held cash and cash equivalents of approximately $329,000, compared with approximately $641,000 at December 31, 2011.

Commenting on the financial results Kerry P. Gray, President and CEO, stated, "Financial performance is essentially in line with our plan for the quarter.  We continue to closely control our expenses and prioritize our investments to those projects which are expected to yield the highest returns. Expenses will continue to be aligned with the development of our revenues. Our business plan for the balance of 2011 includes significant revenue growth as our products are introduced into additional global markets."

Operating ResultsRevenues

Revenue for the first quarter of 2011 was $75,000, compared to $235,000 for the first quarter of 2010.  The decrease of $160,000 in revenue was due primarily to a decrease of $138,000 in Aphthasol®  product sales as we did not sell any Aphthasol® finished product to our domestic distributor during the first quarter of 2011.  Also affecting the first quarter 2011 revenues was a decrease of $45,000 in Zindaclin® related licensing and royalty fees due to our divestiture of this product in June 2010 and a decrease of $22,000 in OraDisc™ related licensing due to the termination of the licensing and supply agreement with Meldex International in 2010.  These revenue decreases were partially offset by an increase of $34,000 in Altrazeal® product sales.

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SOURCE ULURU Inc.
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