Alimera Sciences Inc (ALIM) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

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Alimera Sciences Inc
Ticker: ALIM CIK: 1267602

Exhibit 99.1

Alimera Sciences Reports Fourth Quarter and Full Year 2017 Financial Results


•	GAAP Net Loss cut by 34% from $33.2 in 2016 to $22.0 million in 2017


•	Adjusted EBITDA loss reduced by 61% from $22.8 million in 2016 to $8.8 million 2017


•	Filed for Type II variation for uveitis in Europe for ILUVIEN in Q4 of 2017


•	Refinanced previous debt facility with new debt facility from Solar Capital in January 2018

ATLANTA, February 28, 2018 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (Nasdaq: ALIM) (Alimera), a global pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharmaceuticals, today announced financial results for the three months and full-year ended December 31, 2017. Alimera will host a conference call on March 1, 2018 at 9:00 a.m. ET to discuss these results.

“In 2017, pursuant to our plans, we significantly reduced both our GAAP net loss and our Adjusted EBITDA net loss by 34% and 61%, respectively. Physician demand in the U.S. for ILUVIEN has continued to grow throughout the fourth quarter and into 2018, and we have expanded our sales presence to leverage this opportunity moving forward,” said Dan Myers, Alimera’s Chief Executive Officer. “Our end user demand in the fourth quarter of 2017 was higher than in the fourth quarter of 2016, and end user demand in the first two months of 2018 is significantly higher than in the same two months in 2017. We believe that end user demand for ILUVIEN will continue to increase as our sales force utilizes our USER data and other real-world results to emphasize ILUVIEN’s unique benefit of continuous microdosing to treat diabetic macular edema consistently every day. We are also pleased that our submission of a Type II variation for ILUVIEN in 17 European countries has been accepted for regulatory review.”

Fourth Quarter and Full Year 2017 Financial Results

Net revenue for Q4 2017. Net revenue was adversely impacted by the timing of orders from Alimera’s two large U.S. distributors, which increased inventory levels in the fourth quarter of 2016 and decreased inventory levels in the fourth quarter of 2017. As a result, net revenue decreased by approximately $1.6 million, or 15%, to approximately $9.1 million for the three months ended December 31, 2017, compared to net revenue of approximately $10.7 million for the three months ended December 31, 2016. Net revenue decreased despite an 8% increase in U.S. end user demand, which refers to ILUVIEN purchases by physician offices, pharmacies and hospitals from our distributors.

Net revenue for FY 2017. Net revenue increased by approximately $1.6 million, or 5%, to approximately $35.9 million for the year ended December 31, 2017, compared to net revenue of approximately $34.3 million for the year ended December 31, 2016. U.S. net revenue increased approximately $300,000, or 1%, to approximately $26.1 million for the year ended December 31, 2017, compared to U.S. net revenue of approximately $25.8 million for the year ended December 31, 2016. Our annual U.S. net revenue was also adversely impacted by the timing of orders from our two large U.S. distributors, who increased inventory levels in 2016 and decreased inventory levels in 2017, as noted above, despite a 12% increase in end user demand. International net revenue increased by approximately $1.2 million, or 14%, to approximately $9.8 million for the year ended December 31, 2017, compared to approximately $8.6 million for the year ended December 31, 2016. The increase was primarily due to increases in the value of the British pound sterling and the Euro, compared to the U.S. dollar, and increased sales to our international distributors.

The following information was filed by Alimera Sciences Inc (ALIM) on Wednesday, February 28, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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