Finally, the ship is turning around.
Wound Management Technologies Reports Preliminary Financial Results For Q3 2016 Sales Up 56% over Q3 2015, and 2016 YTD Sales Up 41% over 2015 YTD Sales for Wound Management Technologies
Addison, TEXAS, November 1, 2016 – Wound Management Technologies, Inc. (OTC QB: WNDM), an emerging commercial stage company with its primary product, a patent-protected and FDA-cleared collagen product, CellerateRX®, today announced its continued sales growth.
Third Quarter 2016 Financial Highlights
Revenues were approximately $1,409,155 for the three months ended September 30, 2016 up from $905,615 for the same period in 2015.
Year-To-Date Revenues were approximately $3,762,681 for the nine months ended September 30, 2016 up from $2,664,719 for the same period in 2015. This increase of approximately $1,097,962 is the result of strategic sales and management team efforts.
Net income of $181,110 was recognized for the three months ended September 30, 2016.
Cost of goods went down from 21% of sales in the 3rd quarter of 2015, to 15% of sales for the same period in 2016.
Year-to-Date cost of goods sold was 23% for the nine months ended September 30, 2015 compared to 16% for the same period in 2016.
Third Quarter 2016 Subsidiary Update
Wound Care Innovations continues to gain sales approval for the CellerateRX Products in new hospitals across the country. A prominent spine surgeon shared his positive results from use of CellerateRX Surgical in over 100 consecutive cases. This study is now being prepared for publication.
The Resorbable Orthopedic Products (ROP) subsidiary’s HemaQuell Resorbable Bone Wax has been used in a few cardiac, spine and orthopedic cases and ROP is now in working on partners for clinical studies. HemaQuell received FDA 510(k) clearance in February of 2016.
The Innovate OR subsidiary has prepared initial marketing materials for the HemaQuell launch with initial sales anticipated before year end 2016.
“We are continuing to benefit from our focus on sales, growth and efficient operations,” said Deborah Hutchinson, President. “These efforts coupled with strategic initiatives in coordination with our board will continue to positively position Wound Management Technologies in the medical device market.
About Wound Management Technologies
