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Misonix Reports Fourth Quarter and Year-End Fiscal 2011 Financial Results

Tue, 09/20/2011 - 9:40am
Bio-Medicine.Org

FARMINGDALE, N.Y., Sept. 20, 2011 /PRNewswire/ -- Misonix, Inc. (NASDAQ: MSON), a medical device company that designs, manufactures and markets innovative therapeutic ultrasonic products worldwide for wound debridement, cosmetic surgery, neurosurgery, laparoscopic surgery, and other surgical and medical applications, today reported financial results for the fourth fiscal quarter and year ended June 30, 2011.  Michael A. McManus Jr., President and Chief Executive Officer, and Richard Zaremba, Senior Vice President and Chief Financial Officer, will host a conference call today, Tuesday, September 20, 2011 at 4:30 pm to discuss the Company's fourth quarter and year ended June 30, 2011 results.

The Company reported the following financial and operational achievements:

An 8.0% increase in revenue for the year ended June 30, 2011, compared with the same period ending June 30, 2010. Medical device products revenue increased 4.5% and 15.2% for the three months and year ended June 30, 2011, respectively, compared with the same periods in the prior year ending June 30, 2010. Gross profit as a percentage of revenue was 52.5% for the year ended June 30, 2011, compared to 48.8% for the year ended June 30, 2010.  

Revenue for the three months ended June 30, 2011 was $4.2 million, a 2.7% decrease when compared with $4.3 million for the same period in fiscal 2010.  Medical device products sales increased $161,000 or 4.5% to $3.8 million and laboratory and scientific products sales decreased $274,000 to $400,000 for the three months ended June 30, 2011.  The increase in medical device products sales was primarily attributable to sales of the Company's Neuroaspirator product.

Gross profit as a percentage of sales (gross profit percentage) was 52.5% for the three months ended June 30, 2011 compared to 53.6% for the three months ende

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