Revenue Up 22% Over First Quarter 2017
FORT WORTH, TX / ACCESSWIRE / May 17, 2018 / WNDM Medical Inc. (OTCQB: WNDM) today issued its first quarter 2018 financial report.
The Company released form 10-Q today for the period ending March 31, 2018, posting first quarter 2018 revenues of approximately $2 million, which represented an all-time high in quarterly sales for WNDM. First quarter revenues increased by 22 percent from $1.6 million during the same period in 2017. First quarter revenues were also up 16 percent compared to the fourth quarter of 2017.
Other financial highlights included:
- Following a very successful 2017, the Company achieved another profitable quarter, and per our three-year plan, continues to invest heavily in expanding its sales reach, product development and clinical support.
- Selling, general and administrative expenses of $1.68 million were up 23 percent from the prior year to support our growing sales efforts in additional geographic markets and within existing areas.
"We are off to an excellent start in 2018 with outstanding sales growth, and we're well positioned to achieve our robust growth plan for this year," said J. Michael Carmena, Chief Executive Officer of WNDM. "A renewed focus on our general wound care business was a major contributor to this growth."
About WNDM Medical Inc.
With its No. 1 goal of improving patient outcomes, WNDM Medical Inc. develops, markets and distributes biotechnology products to physicians, hospitals, and clinics. It has a strong history of developing long-term strategic partnerships with a focus on products that fuse nature and science with medicine. Its primary products are in the $11 billion U.S. consumable medical device market and the $1.5 billion biomaterials market. WNDM Medical sells and distributes CellerateRX®/CRXα® Surgical Activated Collagen® Adjuvant and HemaQuell® Resorbable Bone Hemostat. For more information, visit WNDM.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: WNDM Medical Inc.