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:
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
|SOURCE Wound Management Technologies, Inc.|
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