FORT WORTH, TX / ACCESSWIRE / March 29, 2018 / Wound Management Technologies, Inc. (OTCQB: WNDM) is pleased to announce another year of record sales.
"The Company reported annual net income for the first time in its history," said Mike Carmena, Chief Executive Officer. "Furthermore, 2016 included a significant nonrecurring expense in the amount of $818,665. Without this noncash expense, operating income was actually $342,918 for 2016. We were able to achieve this two-year period of positive net cash from operations while still investing resources to strengthen our operational capabilities, grow our sales force, and invest in product development."
Mike continued, "More hospitals and surgeons from a variety of specialties recognized the benefits to their patients of our CRXα® Activated Collagen® Product Line. I am also pleased to report we realized the first sales of HemaQuell® Resorbable Bone Hemostat in the fourth quarter of 2017. This novel hemostat stops bone bleeding on contact and then resorbs within 2-7 days following surgery to allow for normal healing. We anticipate another strong year of growth in 2017 based on our expanded product lines, sales resources, distributor network, and infrastructure."
For a link to our current 10-K filing, please go to WNDM 10-K Filing 2018-03-29.pdf
About Wound Management Technologies
With its number one goal of improving patient outcomes, Wound Management Technologies, Inc. develops, markets and distributes biotechnology products to hospitals, clinics, and physicians. We have a strong history of developing long-term, strategic partnerships and a focus on high-tech products that fuse nature and science with medicine. With a focus on innovation and growth, we hold licenses and patents to technologies and processes that make a positive impact on clinical outcomes for patients. We project rapid revenue growth based on increasing sales from both our FDA-cleared CellerateRX®/CRXα® Surgical Activated Collagen® Adjuvant line of products for both surgical and chronic wounds as well as our newly FDA-cleared HemaQuell® Resorbable Bone Hemostat. For more information, visit our website, www.wmgtech.com.
Information about Forward-Looking Statements
The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the Company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
SOURCE: Wound Management Technologies, Inc.