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Kelyniam Announces 2018 Financial Results
COLLINSVILLE, Conn., March 7, 2019 /PRNewswire/ -- Kelyniam Global, Inc., (OTC: KLYG), a manufacturer of custom cranial implants has issued a letter to shareholders and published financials for 2018. The complete letter and all financials can be found on the Kelyniam website at www.kelyniam.com
In the letter, Chairman and CEO Ross Bjella reported:
- Record revenues of $2.12M
- Gross profit increased 6% to $1.17M
- Unit volume and average selling price both increased in 2018
- The number of sales representatives selling our implants and the number of surgeons choosing Kelyniam implants increased
- Net income improved to as loss of -$15,304 from a loss of -$72,538 in 2017
- The company filed a new 510(k) application with the FDA in Q4
- National Sales Director, Laura Reed, has joined the organization
- Board member and Vice President of Sales and Business Development, Dr. Mark Smith will focus on business development opportunities
Bjella also wrote: "We are entering the second year of our 5-year plan. We know that competition and pricing pressure will remain a challenge in 2019. Our focus this year is to continue to solidify and grow our market position while developing a strong pipeline of new products. We are hopeful for a successful 510(k) review and subsequent product launch late in the year. Kelyniam shareholders can be assured that the entire Kelyniam team is invested in the company and firmly believes in its success."
To read the full text of the letter, visit: www.kelyniam.com/news
Kelyniam Global, Inc., specializes in the rapid production of custom prosthetics utilizing computer aided design and computer aided manufacturing of advanced medical grade polymers. The Company develops, manufactures, and distributes in the $1B worldwide cranial and maxillo-facial implant market for patients requiring the reconstruction of cranial and certain facial structures. Our additive manufacturing expertise and FDA compliant operations provide and ideal platform to support the design, development and manufacture of medical devices. Kelyniam works directly with surgeons, health systems and payers to improve clinical and cost-of-care outcomes. Kelyniam's web site address is www.Kelyniam.com.
Forward Looking Statements
As a cautionary note to investors, certain matters discussed in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company's ability to execute its service and product sales plans; changes in the status of ability to market products; and the risks described from time to time in the Company's SEC reports.
SOURCE Kelyniam Global, Inc.