Canton, CT, June 3, 2014 (GLOBE NEWSWIRE) -- Kelyniam Global Inc, (OTC: KLYG), a prominent manufacturer of
custom cranial implants, today reported that the company generated
net income of $71,205 in the first quarter of 2014.
Compared with first quarter 2013, net sales increased 23% from
$437,415 to $540,286, as a result of increased market penetration,
gross profit moved up from $229,027 to $269,788, and net income
swung from a loss of $17,272 to a profit of $71,205.
Financials will be provided at www.kelyniam.com.
"This is the strongest first quarter in the company's history",
stated Tennyson Anthony, President and CEO. "Our progress is
encouraging and it suggests there is a lot more room for the
company to grow. Furthermore, we are working to increase our
gross margins throughout 2014."
In addition, the company is excited to announce that the
board has appointed Dr. Mark Smith, a prominent Nuerosurgeon, and
Dr. Naveh Levy, a practicing Diagnostic Radiologist, to the board
Mark V Smith, M.D. is a neurosurgeon with over 20 years of
clinical experience. He has also worked as a biomedical engineer.
He graduated magna cum laude with a bachelor's degree in Electrical
Engineering from the University of Maryland in 1980. After working
two years as a biomedical engineer, he was admitted to medical
school where he earned a doctorate of medicine at the University of
Maryland in 1986. He completed his neurosurgery training at SUNY
Upstate University Hospital in Syracuse, New York in 1993. He is
also fellowship trained in pituitary surgery and epilepsy surgery.
Dr. Smith was as an assistant professor of neurological
surgery at SUNY Health Sciences Center in Syracuse, New York from
1994 to 1999 specializing in epilepsy and skull base surgery. In
1999 he started a private practice neurosurgery group in Utica, New
York. Dr. Smith has received numerous awards and grants and is
published in the fields of neuroanatomy, neurophysiology and
Naveh Levy, M.D. completed his residency at the Cleveland Clinic
in 2008 and an MRI Fellowship in 2009 at Michigan State
University. He holds a medical degree from George
Washington University School of Medicine in Washington, D.C.
"Kelyniam is in the business of taking raw data, a patient's CT
scan, and creating a superior product with intricate details for
the surgeon to implant in the patient. These new board members
bring the technological acumen to complement both aspects of the
business," stated Mr Anthony. "We are excited to have them join
About Kelyniam Global,
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 activeand
Please visit our website at www.kelyniam.com for more
information.Forward-Looking StatementsExcept 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
Source: Kelyniam Global Inc.