ULURU Inc. Reports First Quarter 2011 Financial Results
For the first quarter of 2011, the Company reported a net loss of
Commenting on the financialresults
Operating Results
Revenues
Revenue for the first quarter of 2011 was
Research and Development
Research and development expenses for the first quarter of 2011 were
Selling, General and Administrative
Selling, general and administrative expenses for the first quarter of 2011 were
The decrease of approximately
Other income and Other expenses
Interest expense for the first quarter of 2011 was
About
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, including but not limited to statements made relating to future financial performance of
Contact: Company
President & CEO
Vice President & CFO
(214) 905-5145
ULURU Inc. SUMMARY OF RESULTS STATEMENTS OF OPERATIONS DATA |
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Three Months Ended March 31, |
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2011 |
2010 |
|||||
REVENUES |
||||||
License fees |
$ 6,049 |
$ 22,383 |
||||
Royalty income |
13,387 |
53,061 |
||||
Product sales, net |
55,735 |
159,786 |
||||
Other |
--- |
--- |
||||
Total Revenues |
75,171 |
235,230 |
||||
COSTS AND EXPENSES |
||||||
Cost of goods sold |
16,262 |
130,683 |
||||
Research and development |
273,798 |
285,784 |
||||
Selling, general and administrative |
659,093 |
816,888 |
||||
Amortization of intangible assets |
201,968 |
246,516 |
||||
Depreciation |
76,858 |
49,990 |
||||
Total Costs and Expenses |
1,227,979 |
1,529,861 |
||||
OPERATING (LOSS) |
(1,152,808) |
(1,294,631) |
||||
Other Income (Expense) |
||||||
Interest and miscellaneous income |
4,036 |
121 |
||||
Interest expense |
(12,851) |
(7,988) |
||||
(LOSS) BEFORE INCOME TAXES |
</td> |
(1,161,623) |
(1,302,498) |
|||
Income taxes |
--- |
--- |
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NET (LOSS) |
$ (1,161,623) |
$ (1,302,498) |
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Basic and diluted net (loss) per common share |
$ (0.01) |
$ (0.02) |
||||
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING |
87,008,918 |
79,955,904 |
||||
ULURU Inc. SELECTED CONDENSED CONSOLIDATED BALANCE SHEET DATA |
||||
March 31, 2011 |
December 31, 2010 |
|||
(Unaudited) |
(Audited) |
|||
Cash and cash equivalents |
$ 329,071 |
$ 641,441 |
||
Current assets |
1,600,761 |
1,996,265 |
||
Property and equipment, net |
1,298,625 |
1,375,484 |
||
Other assets |
5,448,571 |
5,648,764 |
||
Total assets |
8,347,957 |
9,020,513 |
||
Current liabilities |
1,042,363 |
1,019,597 |
||
Long term liabilities – deferred revenue |
588,604 |
594,653 |
||
Total liabilities |
1,630,967 |
1,614,250 |
||
Total stockholders' equity |
6,716,990 |
7,406,263 |
||
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