{"id":382082,"date":"2020-11-16T13:05:23","date_gmt":"2020-11-16T18:05:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=382082"},"modified":"2020-11-16T13:05:23","modified_gmt":"2020-11-16T18:05:23","slug":"kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\/","title":{"rendered":"Kelyniam Global Releases 3rd Quarter 2020 Financials Steady Growth and a Focus on Profitability Despite Covid-19"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">CANTON, Conn.<\/span>, <span class=\"xn-chron\">Nov. 16, 2020<\/span> \/PRNewswire\/ &#8212; Kelyniam Global (OTC:KLYG), a maker of custom cranial implants, today announced results for its third quarter ended <span class=\"xn-chron\">September 30, 2020<\/span>.<\/p>\n<p>&#8220;In the third quarter Kelyniam was able to capture pent-up demand and some additional market share leading to significantly increased sales compared to the same period in 2019,&#8221; said <span class=\"xn-person\">Ross Bjella<\/span>, Kelyniam&#8217;s CEO. &#8220;Further, we have now delivered our FDA cleared Integrated Fixation System (&#8220;IFS&#8221;) tabs for a full year and it is clear the marketplace has embraced the ease of use of this technology. Kelyniam will continue to improve our intellectual property protection measures to advance this technology which will only serve to improve patient outcomes.&#8221;<\/p>\n<p>Financial Performance for the nine months ended <span class=\"xn-chron\">September 30, 2020<\/span> compared to the nine months over the same period in 2019 includes:<\/p>\n<ul type=\"disc\">\n<li>Total revenue of <span class=\"xn-money\">$1,970,812<\/span> compared to <span class=\"xn-money\">$1,430,596<\/span> an increase of 37.8% in sales revenue <\/li>\n<li>Gross margin of <span class=\"xn-money\">$956,173<\/span> compared to <span class=\"xn-money\">$764,695<\/span>. <\/li>\n<li>Operating income of <span class=\"xn-money\">$133,316<\/span> compared to a loss of <span class=\"xn-money\">$272,071<\/span><\/li>\n<li>Net Income <span class=\"xn-money\">$117,651<\/span> compared to a loss of <span class=\"xn-money\">$287,660<\/span> over the prior year<\/li>\n<\/ul>\n<p>The resultant turnaround in profitability is substantively attributable to the growth in sales and reduced general &amp; administrative expenses, primarily travel and legal fees.<\/p>\n<p>Events that significantly affected the quarter included:<\/p>\n<ul type=\"disc\">\n<li>On <span class=\"xn-chron\">May 11<\/span>, the Company received a Payment Protection Loan of approximately <span class=\"xn-money\">$111,000<\/span> enabling the Company to meet sales demand. The Company submitted a request for loan forgiveness during the third quarter for evaluation by the lending institution and, ultimately, submission to the SBA. <\/li>\n<li>Ms. <span class=\"xn-person\">Desiree Webb<\/span> was added to the Board as an Independent Director during the quarter bringing the total number of Board members to five. Ms. Webb&#8217;s experience is principally associated with market-leading neuroscience and spine surgeons and we expect her to add additional expertise in channel strategy and product development.<\/li>\n<\/ul>\n<p>&#8220;While we have managed an illogical marketplace for all year, it is impossible to predict our financial results for the balance of the year given the recent rise in Covid-19 cases,&#8221; said Bjella, &#8220;Local governments, hospital systems and surgeons may each have different opinions on the need for elective surgeries during this phase of the pandemic. Hospital capacity and case hospitalization rates could negatively impact the business on a quarterly basis for the balance of the year&#8221;.<\/p>\n<p>Kelyniam is the market leader in producing complex custom cranial implants across <span class=\"xn-location\">the United States<\/span> within 24 hours.<\/p>\n<p>The complete financials can be found on the company&#8217;s website at <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2983099-1&amp;h=4008129437&amp;u=https%3A%2F%2Fwww.kelyniam.com%2Fnews%2F&amp;a=https%3A%2F%2Fwww.kelyniam.com%2Fnews%2F\" rel=\"nofollow noopener noreferrer\">https:\/\/www.kelyniam.com\/news\/<\/a><\/u><\/p>\n<p>Kelyniam Inc. specializes in the rapid production of custom prosthetics utilizing computer-aided design and computer-aided manufacturing of advanced medical-grade polymers. The Company develops, manufactures, and distributes custom cranial and maxillofacial implants for patients requiring the reconstruction of cranial and certain facial structures. Kelyniam works directly with surgeons, health systems, and payors to improve clinical and cost-of-care outcomes. Kelyniam&#8217;s web site address is <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2983099-1&amp;h=3292431944&amp;u=http%3A%2F%2Fwww.kelyniam.com%2F&amp;a=www.Kelyniam.com\" rel=\"nofollow noopener noreferrer\">www.Kelyniam.com<\/a>.<\/p>\n<p>As a cautionary note to investors, certain matters discussed in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company&#8217;s ability to execute its service and product sales plans; changes in the status of ability to market products; and the risks described from time to time in the Company&#8217;s SEC reports. <\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY93105&amp;sd=2020-11-16\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19-301173854.html\">http:\/\/www.prnewswire.com\/news-releases\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19-301173854.html<\/a><\/p>\n<p>SOURCE  Kelyniam Global, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY93105&amp;Transmission_Id=202011161301PR_NEWS_USPR_____NY93105&amp;DateId=20201116\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire CANTON, Conn., Nov. 16, 2020 \/PRNewswire\/ &#8212; Kelyniam Global (OTC:KLYG), a maker of custom cranial implants, today announced results for its third quarter ended September 30, 2020. &#8220;In the third quarter Kelyniam was able to capture pent-up demand and some additional market share leading to significantly increased sales compared to the same period in 2019,&#8221; said Ross Bjella, Kelyniam&#8217;s CEO. &#8220;Further, we have now delivered our FDA cleared Integrated Fixation System (&#8220;IFS&#8221;) tabs for a full year and it is clear the marketplace has embraced the ease of use of this technology. Kelyniam will continue to improve our intellectual property protection measures to advance this technology which will only serve to improve patient outcomes.&#8221; Financial Performance for the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Kelyniam Global Releases 3rd Quarter 2020 Financials Steady Growth and a Focus on Profitability Despite Covid-19&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-382082","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kelyniam Global Releases 3rd Quarter 2020 Financials Steady Growth and a Focus on Profitability Despite Covid-19 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kelyniam Global Releases 3rd Quarter 2020 Financials Steady Growth and a Focus on Profitability Despite Covid-19 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire CANTON, Conn., Nov. 16, 2020 \/PRNewswire\/ &#8212; Kelyniam Global (OTC:KLYG), a maker of custom cranial implants, today announced results for its third quarter ended September 30, 2020. &#8220;In the third quarter Kelyniam was able to capture pent-up demand and some additional market share leading to significantly increased sales compared to the same period in 2019,&#8221; said Ross Bjella, Kelyniam&#8217;s CEO. &#8220;Further, we have now delivered our FDA cleared Integrated Fixation System (&#8220;IFS&#8221;) tabs for a full year and it is clear the marketplace has embraced the ease of use of this technology. Kelyniam will continue to improve our intellectual property protection measures to advance this technology which will only serve to improve patient outcomes.&#8221; Financial Performance for the &hellip; Continue reading &quot;Kelyniam Global Releases 3rd Quarter 2020 Financials Steady Growth and a Focus on Profitability Despite Covid-19&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-16T18:05:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY93105&amp;sd=2020-11-16\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Kelyniam Global Releases 3rd Quarter 2020 Financials Steady Growth and a Focus on Profitability Despite Covid-19\",\"datePublished\":\"2020-11-16T18:05:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\\\/\"},\"wordCount\":580,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=NY93105&amp;sd=2020-11-16\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\\\/\",\"name\":\"Kelyniam Global Releases 3rd Quarter 2020 Financials Steady Growth and a Focus on Profitability Despite Covid-19 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\/","og_locale":"en_US","og_type":"article","og_title":"Kelyniam Global Releases 3rd Quarter 2020 Financials Steady Growth and a Focus on Profitability Despite Covid-19 - Market Newsdesk","og_description":"PR Newswire CANTON, Conn., Nov. 16, 2020 \/PRNewswire\/ &#8212; Kelyniam Global (OTC:KLYG), a maker of custom cranial implants, today announced results for its third quarter ended September 30, 2020. &#8220;In the third quarter Kelyniam was able to capture pent-up demand and some additional market share leading to significantly increased sales compared to the same period in 2019,&#8221; said Ross Bjella, Kelyniam&#8217;s CEO. &#8220;Further, we have now delivered our FDA cleared Integrated Fixation System (&#8220;IFS&#8221;) tabs for a full year and it is clear the marketplace has embraced the ease of use of this technology. Kelyniam will continue to improve our intellectual property protection measures to advance this technology which will only serve to improve patient outcomes.&#8221; Financial Performance for the &hellip; Continue reading \"Kelyniam Global Releases 3rd Quarter 2020 Financials Steady Growth and a Focus on Profitability Despite Covid-19\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-16T18:05:23+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY93105&amp;sd=2020-11-16","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Kelyniam Global Releases 3rd Quarter 2020 Financials Steady Growth and a Focus on Profitability Despite Covid-19","datePublished":"2020-11-16T18:05:23+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\/"},"wordCount":580,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY93105&amp;sd=2020-11-16","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/kelyniam-global-releases-3rd-quarter-2020-financials-steady-growth-and-a-focus-on-profitability-despite-covid-19\/","name":"Kelyniam Global Releases 3rd Quarter 2020 Financials Steady Growth and a Focus on Profitability Despite Covid-19 - 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