Kelyniam Global Announces 1st Quarter Results
Kelyniam Global (OTC:KLYG) announced its Q1 2022 results, revealing total revenue of $656,858, down 0.1% from $664,353 in Q1 2021. The gross margin slightly improved to $509,201 from $505,326, while operating income showed a loss of $5,924 compared to a profit of $13,806 a year earlier. CEO Ross Bjella noted that revenue figures were influenced by previous COVID-related demand, and he anticipates growth from the launch of CustomizedBone. The company is enhancing its sales team to target new contracts.
- Gross margin improved to $509,201 from $505,326.
- Shipments commenced via partnership with Finceramica.
- Sales team expansion targeting GPO contracts.
- Total revenue declined by 0.1% year-over-year.
- Operating loss of $5,924 compared to a profit of $13,806 in the previous year.
CANTON, Conn., May 8, 2022 /PRNewswire/ -- Kelyniam Global (OTC:KLYG), a maker of custom cranial implants, today announced results for its quarter ended March 31, 2021.
"Revenue and profitability in Q1 were essentially flat as compared to the previous year," said Ross Bjella, Kelyniam's Chairman and CEO. "2021 Q1 revenue was artificially high due to pent up Covid related demand for custom implants in March. 2022 Q1 revenue came in as forecast for the quarter. The company also shipped the first implants through our partnership with Finceramica and I expect profit and sales growth following the CustomizedBone launch."
Financial highlights for the three months ended March 31, 2022 and the same period in 2021 includes:
- Total revenue for the quarter of
$656,858 compared to$664,353 down0.1% , essentially flat for the quarter - Gross margin of
$509,201 compared to$505,326 - Operating Income (loss) of
$ (5,924) compared to$13,806
"The company continues to add additional sales representatives," said Bjella, "We have added resources to our sales team, specifically filling open territories and targeting GPO contracts. Kelyniam's unique ability to deliver custom cranial implants overnight is big differentiator for us."
The complete financials can be found on the company's website at www.Kelyniam.com.
Kelyniam 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 custom cranial and maxillo-facial implants for patients. Kelyniam works directly with surgeons, health systems and payors to improve clinical and cost-of-care outcomes. Kelyniam's web site address is www.Kelyniam.com.
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. Contacts:
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SOURCE Kelyniam Global, Inc.
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