ADDISON, Texas, Nov. 15, 2011 /PRNewswire/ -- ULURU Inc. (NYSE AMEX: ULU) today announced its financial results for the third quarter ended September 30, 2011.
For the third quarter of 2011, the Company reported a net loss of $1.0 million, or $0.18 per share, compared with a net loss of $1.2 million, or $0.22 per share, for the same period last year. For the nine months ended September 30, 2011, the Company reported a net loss of $3.2 million, or $0.55 per share, compared with a net loss of $4.7 million, or $0.87 per share, for the same period last year.
Commenting on the financial results Kerry P. Gray, President and CEO, stated, "Revenue was lower than projected as a major distributor order of approximately $200,000 was not billed until October due to a production delay. Revenues in the fourth quarter will expand significantly as we fill distributor orders, receive licensing payments, and increase our Altrazeal® business. Expense continued to be contained and are in line with our financial plan."
Revenue for the third quarter of 2011 was $74,000, compared to $62,000 for the third quarter of 2010.
Revenue for the nine months ended September 30, 2011 was $229,000, compared to $528,000 for the nine months ended September 30, 2010. The decrease of $299,000 in revenue was due primarily to a decrease of $138,000 in Aphthasol® product sales as we did not sell any Aphthasol® during the first nine months of 2011 and a decrease of $174,000 in Zindaclin® related licensing and royalty fees due to our divestiture of this product in June 2010.
Research and Development
Research and development expenses for the third quarter of 2011 were $233,000, including $17,000 in share-based compensation, compared to $296,000, including $32,000 in share-b
|SOURCE ULURU Inc.|
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