Kelyniam Global (OTC: KLYG), a maker of custom cranial implants, reported today its financial performance for the 3rd-quarter of 2k19.
Revenue rose to $491,745.00 in Q3, up 27.00 percent over the previous quarter and 15.00 percent over the similar quarter last year. Year to date sales is down 7.0 percent over a similar duration in 2k18, primarily due to the delayed launch of the new Integrated Fixation System tab product and fewer cases from a single large distributor.
Gross profit for the quarter was up over the previous quarter by 100.00 percent to $312,094.00 from $156,121.00. Year to date gross profit declined 16.00 percent over a similar duration last year due to inclined commission payments and pricing pressure at some hospitals. Year to date net income declined to -$74,561.00 primarily due to marketing costs associated with launching the new IFS tabs and legal fees related to arbitration with the former CEO.