MiMedx Group, an integrated developer, manufacturer, and marketer of patent protected regenerative biomaterials and bioimplants processed from human amniotic membrane, today announced its financial results for the year ended December 31, 2011.
The company reported record revenue for full-year 2011 at $7.8 million, a tenfold increase over 2010 full-year revenue of $789,000.
MiMedx reported a net loss of $10.2 million, or $(0.14) per diluted common share, for the year ended December 31, 2011, as compared to the net loss of $11.4 million, or $(0.19) per diluted common share, recorded for the year ended December 31, 2010.
Adjusted EBITDA for the year ended December 31, 2011, totaled a loss of $6.3 million, as compared to the Adjusted EBITDA loss of $8.3 million for the year ended December 31, 2010.
As of December 31, 2011, the company reported cash on hand of $4.1 million, a $2.8 million increase over the $1.3 million reported for the year prior. Stockholders’ equity as of December 31, 2011, was $11.9 million, nearly a two-fold increase in stockholder’s equity of $6.1 million as of December 31, 2010.
Parker H. “Pete” Petit, chairman and CEO, detailed several company achievements and undertakings over the last 12 months:
• In January 2011, MiMedx acquired Surgical Biologics and grew its allograft revenue from about $1.7 million in 2010 to more than $7 million in 2011.
• During the fourth quarter, MiMedx secured the C-Code from the Centers for Medicare and Medicaid Services (CMS) for its EpiFix® allograft.
• In the second quarter of 2011, the company successfully completed a $6 million private placement; an additional $5 million private placement was completed in December 2011.
• MiMedx’ HydroFix® Vaso Shield was cleared by the FDA for additional thicknesses and sizes; the HydroFix® Ortho Shield product also received FDA 510(k) clearance during the year.
The company also provided its revenue goals for 2012, reporting a revenue goal for the first quarter 2012 at $3.6 million. Revenue goals for the second, third and fourth quarters of 2012 are $4.9 million, $6.4 million, and $8.1 million, respectively.
For more information visit www.mimedx.com
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment