|NetworkNewsBreaks – Pressure BioSciences Inc. (PBIO) Reports Q1 Financial Results, Provides Business Update; Schedules Earnings Call|
Global life sciences company Pressure BioSciences (OTCQB: PBIO) today announced financial results for the first quarter ended March 31, 2018. Among other highlights, Pressure BioSciences reported total revenue of $610,774 for the first quarter of 2018 compared to $551,357 for the same period in 2017, demonstrating an increase of 11%. The company attributes the increase in revenue primarily to its growth in products and services which brought in $585,244 for the first quarter of 2018 compared to $525,998 for the same quarter of 2017, similarly demonstrating an 11% increase. The company also provided a business update and offered limited guidance for the rest of the year.
“In addition to these Q1 2018 financial accomplishments, we reported several noteworthy operational successes as well. First, we negotiated and signed the first biological services contract requiring the use of our patented PreEMT technology platform recently acquired from BaroFold, Inc. Second, we announced a collaboration with ISS, Inc – a major U.S. spectrometry manufacturer whose customers will consequently be able to benefit from the use of our automated pressure generating equipment. Finally, Q1 2018 was the first time that all three of our recently-hired and trained sales directors were in their territories during an entire quarter,” PBIO president and CEO Richard T. Schumacher stated in the news release.
The company is holding a conference call to discuss its first quarter 2018 financial results on Tuesday, May 15, 2018 at 4:30 PM ET. To attend this teleconference, dial (877) 407-8033 for the North America line or (201) 689-8033 for the international using the verbal passcode: PBIO First Quarter 2018 Financial Results Call. The earnings call will also be available for replay for 30 days by dialing (877) 481-4010 for the North America line or (919) 882-2331 for the international line using the ID number 33422.
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