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ULURU Inc. Reports Third Quarter 2010 Financial Results
Date:11/15/2010

ADDISON, Texas, Nov. 15, 2010 /PRNewswire-FirstCall/ -- ULURU Inc. (NYSE Amex: ULU) today announced its financial results for the third quarter ended September 30, 2010.

For the third quarter of 2010, the Company reported a net loss of $1.2 million, or $0.01 per share, compared with a net loss of $1.5 million, or $0.02 per share, for the same period last year.  For the nine months ended September 30, 2010, the Company reported a net loss of $4.7 million, or $0.06 per share, compared with a net loss of $7.5 million, or $0.11 per share, for the same period last year.  At September 30, 2010, the Company held cash and cash equivalents of $1.3 million, compared with $1.9 million at December 31, 2009.

Commenting on the financial results Kerry P. Gray, President and CEO, stated, "Financial performance is substantially in line with our plan for the quarter.  Revenues from U.S. Altrazeal® sales were below forecasted levels primarily due to a reduction in wholesaler inventory levels, reflecting our ability to supply product immediately on receipt of an order, and reduced hospital patient visits which have returned to normal levels in October.  We continue to closely control our expenses and prioritize our investments to those projects which are expected to yield the highest returns."

Mr. Gray continued, "Substantial progress has been made on many fronts in the third quarter, including:

  • Execution of a worldwide animal health distribution agreement;
  • Realigning our sales and marketing activities to focus on diabetic foot ulcers, venous ulcers, and geriatric wounds where we have excellent clinical evidence supporting cost effective treatment with Altrazeal®;
  • Advancing the product pipeline, including working to resolve issues with our silver product, planning a clinical study with our collagen product, and fina
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