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WNDM Files Q1 Results; Company Reports Record Revenue; Cash Position at All-Time High
Date:5/18/2011

FORT WORTH, Texas, May 18, 2011 /PRNewswire/ -- Wound Management Technologies, Inc., (OTCQB: WNDM | WNDM.PK) a leader in advanced wound care solutions, announced financial results for its first quarter of 2011.  For the three-month period ending March 31, 2011, revenue was $935,412, a 1,303% increase over first quarter 2010 net revenue of $66,960.  The increase in revenue was primarily attributable to enhanced sales efforts in 2010, which continued into the first quarter of 2011.  The Company had a loss of $2,743,921 for the first quarter of 2011, as compared to a loss of $1,244,507 for the first quarter of 2010.  The loss in the first quarter of 2011 included a non-cash loss of $1,950,882 related to the conversion of certain debt of the Company into equity.  Cash flow from operations at 3/31/11 was positive for the first time in the Company’s history, $124,278 as compared to a negative cash flow from operations of $284,810 at 3/31/10.

Key Financial Comparisons between Q1 2011 & Q1 2010:

  • Gross profit rose 1717% to $840,994 versus $46,293.
  • Current assets rose 169% to $2,288,521 versus $850,092.
  • Current liabilities dropped 29% to $2,468,869 versus $3,479,189.
  • Weighted-average number of common shares rose 37% to 46,423,395 from 33,948,681
  • Stockholders' equity rose 87% to $5,377,356.
  • Cash on hand as of March 31, 2011, was $1,021,507 versus cash of $50,835 in the prior comparable period.

  • Scott Haire, Wound Management Technologies CEO, commented, " We are very pleased with our first quarter results as well as with the Company’s outlook.  During the first quarter, Wound Management achieved several key milestones:  a record high in quarterly revenues equal to roughly all of the Company’s 2010 revenues, a significantly improved balance sheet, our first positive cash flow from operations, and the completion of financing that left the company wi
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    SOURCE Wound Management Technologies, Inc.
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