Full Press Release Details
Announces Preliminary Financial Results for Third Quarter 2018
102% Year-over-Year Product Revenue Growth;
$6 Million 2018 Revenue Target
ORANGE, NJ, October 1, 2018 - Nephros, Inc. (OTCQB: NEPH), a commercial stage medical device company that develops and sells
high performance liquid purification ultrafilters, today announced preliminary financial results for the third quarter of 2018.
expects product revenue for the quarter to be approximately $1.7 million, which represents a 102% increase over the same period
has been a dramatic increase in the awareness of water safety over the last few years," said Daron Evans, President and
Chief Executive Officer. "Our focus on consultation and rapid responsiveness enables our customers to achieve measurable
performance improvement from our products. Our continued revenue growth is a result of our expanded product line based on customer
feedback as well as a multi-year campaign of education and customer support."
our upcoming 10-Q filing, we intend to report results from our water filtration business both separately and consolidated with
our Specialty Renal Products (SRP) subsidiary," said Andy Astor, Chief Financial Officer. "This will provide our shareholders
with greater transparency for each respective business unit, including the company's progress towards profitability in the
water filtration business."
ended the quarter with approximately $5.2 million in cash on a consolidated basis.
is a commercial stage medical device company that develops and sells high performance liquid purification filters, known as ultrafilters.
Nephros ultrafilters are primarily used in hospitals and medical clinics for added protection in retaining bacteria (e.g., Legionella,
Pseudomonas), viruses, and endotoxins from water. They provide barriers that assist in improving infection control in showers,
sinks, and ice machines. Additionally, Nephros ultrafilters are used by dialysis centers for assisting in the added removal of
biological contaminants from the water and bicarbonate concentrate supplied to hemodialysis machines and the patients.
more information about Nephros, please visit the company's website at www.nephros.com.
Specialty Renal Products, Inc.
Renal Products, a subsidiary of Nephros, is focused on the development of medical device products for patients with renal disease,
including a hemodiafiltration system for the treatment of patients with ESRD.
release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements
regarding the Company's expected financial results for the quarter ending September 30, 2018, its expected revenue for the
fiscal year ending December 31, 2018, its ongoing investment in, and the continued development and anticipated commercialization
of, a second generation HDF system, including its goals for commercialization and other statements that are not historical facts,
including statements which may be accompanied by the words "intends," "may," "will," "plans,"
"expects," "anticipates," "projects," "predicts," "estimates," "aims,"
"believes," "hopes," "potential" or similar words. Actual results could differ materially
from those described in these forward-looking statements due to certain factors, including uncertainty in clinical outcomes, potential
delays in the regulatory approval process, changes in business, economic and competitive conditions, the availability of capital
when needed, our dependence on third party manufacturers and researchers, regulatory reforms, uncertainties in litigation or investigative
proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Nephros Inc.'s reports
filed with the U.S. Securities and Exchange Commission, including with respect to Nephros, its Annual Report on Form 10-K for
the year ended December 31, 2017. Nephros, Inc. does not undertake any responsibility to update the forward-looking statements