Derma Sciences Q2 net loss narrows

Tue. August 18, 2009; Posted: 09:03 AM

Aug 18, 2009 (Datamonitor via COMTEX) -- DSCI | Quote | Chart | News | PowerRating -- Derma Sciences, a provider of wound and skin care products, has reported a net loss of $560,502, or $0.01 per share, for the second quarter of 2009, compared to a net loss of $1.27 million, or $0.03 per share, for the second quarter of 2008.

The company has reported net sales of $11.56 million, for the second quarter of 2009, compared to $13.08 million for same period of 2008.

Derma Sciences has reported a net loss of $1.32 million, or $0.03 per share, for the first half of 2009, compared to a net loss of $2.68 million, or $0.07 per share, for the same period of 2008. The company reported net sales of $22 million for the first half of 2009, compared to $24.81 million for the same period of 2008.

Ed Quilty, CEO of Derma Sciences, said: "A steady performance from our core business during the second quarter generated improvement in operating results and cash flow, allowing us to continue to focus on driving revenue for some of our newer products such as Medihoney and Bioguard.

"As our results indicate, our advanced wound care line is gaining traction through the efforts of our sales team. The decrease in year over year sales is mostly related to our first aid division, which has experienced recession-related challenges. Though sales decreased, our gross margins on the first aid division products have improved, putting Derma in a favorable position to see strong growth from this division in the future."

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