Revenue Up 56% Over Second Quarter 2017
FORT WORTH, TX / ACCESSWIRE / August 16, 2018 / WNDM Medical Inc. (OTCQB: WNDM) issued its Second Quarter 2018 financial report.
The Company has released form 10-Q for the period ending June 30, 2018, posting second quarter 2018 revenues of approximately $2.3 million, which represented an all-time high in quarterly sales for WNDM. Second quarter revenues increased by 56 percent from $1.5 million during the same period in 2017. Second quarter 2018 revenues were also up 15 percent over the first quarter of 2018, which held the past record for quarterly sales.
Other financial highlights included:
- Year-to-date revenues of $4.3 million were up 38 percent compared to prior year, also an all-time high for any six-month period.
- 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.
- Operating income for the six months ending June 30, 2018 was $97,688, compared to operating income of $176,980 for the six months ending June 30, 2017. The decrease in operating income was due to higher Selling, General and Administrative Expenses related to the expansion of our sales force, product development and additional investments in our corporate infrastructure.
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.