Net loss for the third fiscal quarter ended December 31, 2008 was $894,000, or $0.06 per diluted share versus $900,000, or $0.06 per diluted share for the third quarter of last year. For the nine months ended December 31, 2008, net loss was $1.9 million, or $0.12 per diluted share compared with a net loss of $3.1 million, or $0.23 per diluted share for the same period last year.
At December 31, 2008, cash and cash equivalents, and short-term investments were $8.6 million compared with $9.0 million at September 30, 2008 and $10.1 million at March 31, 2008.
"We continue to implement a comprehensive program designed to educate Medicare carrier and private payer medical directors around the country about the benefits and clinical study results of Urgent PC," continued Mr. Kaysen. "The medical directors have asked for additional peer-reviewed publications in medical journals on PTNS treatments. We expect the first of such articles to be published within the next 30 days."
"In the meantime, physicians using Urgent PC are communicating their successes to these medical directors and we are in active communication with professional associations who are involved with reimbursement and believe we have the right people and the right resources to proactively address various reimbursement related issues. It is important to remember that reimbursement uncertainties are common with practically every new medical technology. Gaining a specific CPT code for the procedure is our end goal and we believe our strategies to achieve that endpoint are generating positive responses from the market and will lead to achieving our objective," Mr. Kaysen concluded.
For fiscal 2009, the Company currently expects overall sales to grow by
approximately 4% to 7% over fiscal 2008, and U.S. sales to grow between 20%
and 25%. The Company continues to expect consistent operating inco
|SOURCE Uroplasty, Inc.|
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