- Quarterly total revenue exceeds $600,000 for the first time ever
- Consumable sales up 158 percent year-over-year
- New Center of Excellence in Asia expected to speed expansion in China
- Recently patented Ultra Shear Technology platform can be used to create or improve a wide range of medical, consumer, and industrial products, through the preparation of high quality, stable nanoemulsions
Pressure BioSciences, Inc. (OTCQB: PBIO) has announced that it experienced record growth in total quarterly revenue during the third quarter of 2017, driven by continued strong instrument sales, and by a 158 percent increase in consumable sales, which is also a quarterly record (http://dtn.fm/oa0A0).
PBIO makes and markets its proprietary pressure-based lab instruments and related products to the life sciences industry for a wide range of activities involving sample preparation, a critical part of the preparatory work for almost all scientific analysis, and for the growing nanoemulsions market based on two recently issued patents and a strategic collaboration agreement with Phasex Corporation.
“We believe the revenue growth reported in the third quarter and year-to-date will not only continue in Q4 2017 and beyond, but will accelerate to an even greater rate as our new sales team begins to meet with existing and potential customers throughout the U.S. To that point, Q4 2017 Purchase Orders and Purchase Indications (90% estimated probability of closing) through early November have already exceeded products & services revenue for the full 2016 fourth quarter,” Joseph L. Damasio, Jr., VP of Finance and CFO, stated in a news release announcing the results.
The company’s product gross profit margin remained steady at about 47 percent, according to the news release. PBIO’s total revenue increased from $535,334 in the third quarter of 2016 to $646,061 in the same quarter for 2017. The company also saw record quarterly growth in products and services revenue of 21 percent.
Among recent highlights of the company’s operations, Pressure BioSciences set up its first Center of Excellence in Asia, which should have a marked impact on PBIO’s expansion into China. PBIO’s penetration into Europe is also expected to increase in the wake of multiple scientific presentations made throughout the continent over the past few months, some by key opinion leaders in the proteomics space.
The company and Phasex Corporation recently announced a cooperative agreement on nanoemulsions technology that will help them advance the delivery of unprecedented shelf-stable mixtures to deal with demands in food, nutraceutical, pharmaceutical, cosmetic, ink, paint, and lubricant markets. The company also received the first two patents issued for its high pressure-based Ultra Shear Technology (“UST”).
Pressure BioSciences held an earnings teleconference call Nov. 14 and has made a replay of the call available for the next 30 days by calling (877) 481-4010 in North America or (919) 882-2331 in other countries. The replay ID Number is 22751.
“We have spent a lot of time and money over the past few years preparing for this opportunity. We believe we are ready and taking all necessary actions to grow our momentum and fully exploit the exciting growth and new markets potential that we have long envisioned,” company President and CEO Richard T. Schumacher stated in the news release.
For more information, visit the company’s website at www.PressureBioSciences.com
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