This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Derma Sciences Reports Third Quarter 2012 Financial Results

Stocks in this article: DSCI

Financial Results

Net sales for the third quarter of 2012 were $19,649,773, compared with $15,845,934 for the third quarter of 2011, an increase of 24%. This reflects 67% growth in sales of advanced wound care products to $6,829,168 from $4,077,575 in the third quarter of 2011. Third quarter advanced wound care product sales include $1,787,396 from the operations of MedEfficiency, Inc. (MedEfficiency), which the Company acquired during the second quarter of 2012. Excluding sales of MedEfficiency products from both periods, sales of advanced wound care products grew 36%. Sales of traditional wound care products increased 9% to $12,820,605, compared with $11,768,359, driven by higher first-aid product sales and the replenishment of distributor inventories in Canada that were drawn down during the first half of 2012.

Gross profit for the third quarter of 2012 was $6,908,174 or 35.2% of net sales, up from $4,749,619, or 30.0% of net sales, for the third quarter of 2011. The increase in gross margin reflects increased sales of higher-margin advanced wound care products, which accounted for 35% of net sales for the quarter compared with 26% of net sales in the same period last year.

Selling, general and administrative expense for the third quarter of 2012 was $8,058,441, compared with $5,141,548 for the third quarter of 2011. The increase was principally due to higher sales, marketing and administrative expenditures associated with advanced wound care growth initiatives.

Research and development expense for the third quarter of 2012 was $1,923,670, compared with $200,541 in the third quarter of 2011, reflecting expenses associated with preparing for the DSC127 Phase 3 program.

The net loss for the third quarter of 2012 was $3,055,006 or $0.24 per share, compared with a net loss for the third quarter of 2011 of $789,257 or $0.08 per share. Higher compensation and benefit costs, incremental growth-related sales, marketing and administrative costs, and higher research and development expenses were principally responsible for the larger net loss.

3 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs