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Rochester Medical Reports First Quarter Results
Date:2/2/2009

STEWARTVILLE, Minn., Feb. 2 /PRNewswire-FirstCall/ -- Rochester Medical Corporation (Nasdaq: ROCM) today announced operating results for its first quarter ended December 31, 2008.

The Company reported sales of $8,436,000 for the current quarter compared to $8,223,000 for the first quarter of last year. It also reported net income of $54,000 or $.00 per diluted share compared to net income of $272,000 or $.02 per diluted share for the first quarter of last year.

The approximate 3% increase in sales (13% on a constant currency basis) resulted from a 4% decrease in Rochester Medical Branded Sales (11% increase on a constant currency basis), and an 18% increase in Private Label Sales (18% on a constant currency basis). Constant currency basis assumes current exchange rates for all periods in order to exclude the impact of foreign exchange variations. In the first quarter of fiscal 2009, the dollar continued to strengthen significantly versus the pound sterling, thus negatively affecting branded sales growth levels in actual U.S. dollars given the significant volume of our branded product sales in the United Kingdom.

Net income adjusted for certain non-recurring unusual items and certain recurring non-cash expenses, or "Non-GAAP Net Income" for the current quarter is $482,000 or $.04 per diluted share compared to Non-GAAP Net Income of $686,000 or $.05 per diluted share for the first quarter of last year. The decrease for the current quarter is primarily attributable to increased sales and marketing costs.

Commenting on today's announcement Rochester Medical CEO and President Anthony J. Conway said, "The 13% percent overall sales growth (constant currency) is good considering that our U.S. branded sales were essentially flat due to a 15% decrease in Male External Catheter unit sales (normally our lar
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SOURCE Rochester Medical Corporation
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