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Misonix Reports Fourth Quarter and Fiscal Year 2010 Financial Results

Tue, 09/28/2010 - 10:32am
Bio-Medicine.Org

FARMINGDALE, N.Y., Sept. 28 /PRNewswire-FirstCall/ -- Misonix, Inc. (Nasdaq: MSON), a developer of state of the art, ultrasonic medical device technology, which worldwide is used for acute health conditions, today reported financial results for the fourth fiscal quarter and year ending June 30, 2010.  Michael A. McManus, Jr., President and Chief Executive Officer, and Richard Zaremba, Senior VP and Chief Financial Officer, will host a conference call Tuesday, September 28, 2010 at 4:30 pm to discuss the Company's fourth quarter and year end results.

The Company also reported the following financial and operational achievements:

A 43% increase in revenue for the fourth quarter of fiscal 2010 compared with the fourth quarter fiscal 2009 Gross profit as a percentage of revenues increased to 53.6% in the fourth quarter of fiscal 2010 Revenues increased 5% for the fiscal 2010 year ended June 30, 2010 Gross profit as a percentage of revenues increased to 48.8% for the fiscal 2010 year ending June 30, 2010

Revenues for the three months ended June 30, 2010 from continuing operations were $4.3 million, a 43% increase when compared with $3.0 million for the same period in fiscal 2009.  Medical device products sales increased $1.4 million or 60% to $3.6 million and laboratory and scientific products sales decreased $67,000 to $674,000 for the three months ended June 30, 2010.  The increase in revenue for medical device products during the three months ended June 30, 2010 was primarily attributable to an increase in BoneScalpel™ sales.  

Gross profit as a percentage of sales increased to 53.6% for the three months ended June 30, 2010 from 45% for the three months ended June 30, 2009.  The increase in percentage is primarily attributable to increase margins from the Company's BoneScalpel product.

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