×

United Health Products Reports Second Quarter 2017 Results

HENDERSON, Nev., Aug. 22, 2017 (GLOBE NEWSWIRE) -- United Health Products, Inc. (OTC:UEEC), a manufacturer and marketer of HemoStyp®, a patented hemostatic gauze for the healthcare and wound care sectors, today announced financial results for the second quarter and six months ended June 30, 2017. Revenues for the quarter were $41,816 versus $26,852 for the comparable period last year. The company reported a net loss of ($119,768) ($0.00 per share) in the second quarter of 2017, versus a net loss of ($61,531) ($0.00 per share) for the same period a year ago. The company reported revenues of $268,945 and $62,680 for the six months ended June 30, 2017 and 2016. Net losses for the six months ended June 30, 2017 and 2016 were ($62,777) ($0.00 per share) and ($179,420) ($0.00 per share), respectively.

"In the second quarter, management committed itself to the launch of a major domestic marketing campaign by one of our largest customers," said Douglas K. Beplate, CEO. “We expect to announce this launch imminently, and believe that it will lead to significant orders, product sales and associated revenues for the remainder of 2017 and beyond. In addition, we expect to announce additional distribution agreements that will bolster our international revenues.”

About United Health Products Inc.
United Health Products Inc. (UEEC) develops, manufactures, and markets patented hemostatic gauze, for the healthcare and wound care sectors. The product, HemoStyp, is derived from regenerated oxidized cellulose, which is all natural, and designed to absorb exudate/drainage from superficial wounds and helps control bleeding. UEEC is focused on identifying new markets and applications for its product as well as ramping up sales in its current markets. For more on United Health Products, Inc. visit: www.unitedhealthproductsinc.com

Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements.

For further information contact Investor Relations: Philippe Niemetz, 212-344-6464 PAN Consultants Ltd. Email : p.niemetz@panconsultants.com

Source:United Health Products Inc.