United Health Products Inc (UEEC)

[rodman]

New pr reports profitable quarter and positive forward looking news.
United Health Products, Inc. (OTC:UEEC) announced financial results for the first quarter ended March 31, 2017. Revenues for the quarter totaled a record $227,129, versus $35,828 for the comparable period last year. The company reported net income of $51,993 ($0.00 per share) for the quarter ended March 31, 2017, versus a loss of $(117,888) ($0.00 per share loss) for the first quarter of 2016.The substantial increase in revenues for the quarter, as compared to the same quarter last year, was due to a significant increase in sales of HemoStyp(R), the company's patented hemostatic gauze for the healthcare and wound care sectors. The company's distributors/partners have successfully expanded their global sales efforts in the dental, veterinarian, retail, and military markets. In 2017, United Health Products has been seeking to expand its product base and as well as to expand into international markets.

"We are pleased with the significant first quarter revenue growth, and attaining profitability," said Douglas K. Beplate, CEO. "However, we have a good deal of work left in order to meet our objectives for this year and beyond, which include: obtaining FDA approval for expanded use of HemoStyp(R); reaching distribution agreements in Europe, South Africa, South Korea and additional Asian markets; and, driving significant additional growth in domestic and international distribution, increasing revenues and net income for the remainder of this year and beyond."