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ULURU Inc. Reports Third Quarter 2013 Financial Results
Date:11/15/2013

e in achieving our objective of having Altrazeal® launched in 50 markets by the end of 2014. The breadth and extent of interest shown by potential strategic marketing partners gives us great confidence that our commercialization objectives will be achieved."

For the third quarter of 2013, the Company reported a net loss of $0.7 million, or $0.05 per share, compared with a net loss of $0.9 million, or $0.10 per share, for the same period last year. For the nine months ended September 30, 2013, the reported net loss was $2.2 million, or $0.16 per share, compared with a net loss of $2.6 million, or $0.32 per share, for the same period last year.

Commenting on the financial results Kerry P. Gray, President and CEO, stated, "Despite a significant increase in commercial activities, principally production and the associated quality compliance issues associated with growth in Altrazeal® product sales, we have continued to reduce our operating expenses during 2013 as our operating expenses are $464,000 below prior year. This has been the principal reason for a reduction in the reported loss. With the reduced expense base we are well positioned to more rapidly achieve profitability with the anticipated revenue expansion in the next six months."

Operating ResultsRevenues
Revenues were $111,000 for the third quarter of 2013, as compared to $89,000 for the third quarter of 2012. The increase of approximately $22,000 in revenues is primarily attributable to an increase in Altrazeal® product sales and royalties, partially offset by a decrease of $16,000 in royalties related to the domestic sale of Aphthasol®.

Revenues were $242,000 for the nine months ended September 30, 2013, as compared to $205,000 for the comparative period of 2012. The increase of approximately $37,000 in revenues is primarily attributable to an increase of Altrazeal® product sales, royalties
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SOURCE ULURU Inc.
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