Canton, CT, Sept. 25, 2013 (GLOBE NEWSWIRE) -- Kelyniam Global Inc. (OTC: KLYG) ("the company") is pleased to announce that it has posted its first ever quarterly profit, for the quarter ending June 30, 2013. Net income for the second quarter was $6,608. Sales in the second quarter were $593,355, up 35% from $438,415 in the first quarter 2013. Year to date sales were $1,031,770, up 253% from the same period in 2012.
The company continues to deploy capital towards marketing and organic growth, and to build market share as its customized PEEK implants are sold in more hospitals than ever. It has recently negotiated better terms for the DECD note secured last year, with the term of the note changing from 5 years to 10 without any increase in the interest rate.
Kelyniam will be an active participant in the Connecticut Economic Trade Mission to Australia later this week, traveling to both Sydney and Canberra, Australia. President & CEO Tennyson Anthony exclaimed, "While we are pleased with our second quarter performance, it is our goal to be used in all 50 states and internationally as well." He continued, "In fact, our growth is not only focused on geography, but on building on our existing products. The company will be announcing a new product in the months to come, one that we feel will turn heads."
The company will be posting the financial tables on the website www.kelyniam.com
About Kelyniam Global, Incorporated
Kelyniam Global (Pinksheets: KLYG), Inc. specializes in the use of CAD/CAM technology to provide patient specific custom implants to assist medical professionals by allowing them to operate more effectively, improve patient care, and reduce health care costs by providing the highest quality products available with today's technology. The company is continually researching and developing new products and processes to help patients live more active and productive lives.
Please visit our website at www.kelyniam.com for more information.
Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective" and "appears" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.
Source:Kelyniam Global Inc.