Business
Kelyniam Global Announces Record Sales of $3 million in 2022 Financial Statements
Kelyniam Global Announces Record Sales of $3 million in 2022 Financial Statements.
About this update from Kelyniam Global, Inc.
[{"type":"text","content":"\n\n\n\nKelyniam Global Announces Record Sales of $3 million in 2022 Financial Statements\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nKelyniam Global Announces Record Sales of $3 million in 2022 Financial Statements\nPR Newswire\nCANTON, Conn., March 16, 2023\n\n\n\nCANTON, Conn., March 16, 2023 /PRNewswire/ -- Kelyniam Global (OTC: KLYG), a maker of custom cranial implants, today announced results for its year ended December 31, 2022.\n\"2022 was the sixth year in a row that Kelyniam has meaningfully increased sales while successfully competing against much larger competitors,\" said Ross Bjella, Kelyniam's CEO. \"Neurosurgeons rely on our ability to manufacture and ship PEEK custom cranial implants within 24 hours, a service level that none of our competitors can match.  Hospital buyers appreciate the savings associated with our patented, fully integrated fixation system that eliminates the need for plates and requires fewer screws.\"\nFinancial highlights for the year ended December 31, 2022 and the same period in 2021 include:\nTotal revenue of $3,017,599 compared to $2,664,434, an increase of 13.2%Operating income of $69,322 compared to $180,445Net Loss of $97,560 compared to net income of $201,741Operating income is not comparable to 2021 numbers because of PPP loan forgiveness.  Net income in 2022 was affected by non-cash legacy stock award grants dating back to 2017.  The complete financials can be found on the company's website at www.Kelyniam.com.\nEvents that significantly affected the year:\nSignificant investment in the infrastructure necessary to support growth and for compliance with regulatory requirements,Execution of a distribution agreement for Fin-Ceramica's Customized Bone cranial implantThe addition of personnel to support sales and marketingBjella added, \"Kelyniam's focus in 2023 and beyond is to invest in d...