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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 largest selling product line) instead of the usual expected growth. The decrease was due to the timing of orders from one of our largest distribution partners. We are confident this was simply a timing aberration, and we expect those orders to return to normal allowing for resumption of solid U.S. branded growth in the second quarter. International branded sales increased 16% on a constant currency basis led by continued strong branded growth in the United Kingdom."

Conway continued, "We are very pleased with the increasing number of scheduled evaluations with institutions of various sizes including with major, well known hospitals. We expect to introduce our improved Silicone Foley Catheter line in April, and we believe that will heighten the already significant interest in our acute care offering. We are now selling the new line of MAGIC3(TM) Intermittent Catheters and the initial response to the new technology is positive both here and abroad. I am confident we will see good sales growth going forward and believe that, excluding variations in currency exchange rates, Rochester Medical will have a solid year."

Rochester Medical has provided Non-GAAP Net Income in addition to earnings calculated in accordance with generally accepted accounting principles (GAAP) because management believes Non-GAAP Net Income provides a more consistent basis for comparisons that are not influenced by certain charges and non-cash expenses and are therefore helpful in understanding Rochester Medical's underlying operating results. Non-GAAP Net Income is not a measure of financial performance under GAAP, and should not be considered an alternative to net income or any other measure of performance or liquidity under GAAP. Non-GAAP Net Income is not comparable to information provided by other companies. Non-GAAP Net Income has limitations as an analytical tool and should not be considered in isolation or as a substitution for analysis of our results as reported under GAAP.

Reconciliations of Net Income and Non-GAAP Net Income are presented at the end of this press release.

This press release contains forward-looking statements that involve risks and uncertainties, including the uncertainty of estimated revenues and profits, as well as the uncertainty of market acceptance of new product introductions, the uncertainty of gaining new strategic relationships or locating and capitalizing on strategic opportunities, the uncertainty of timing of private label sales revenues (particularly international customers), FDA and other regulatory review and response times, and other risk factors listed from time to time in the Company's SEC reports and filings, including, without limitation, the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended September 30, 2008.

The Company will hold a quarterly conference call this afternoon to discuss its earnings report. The call will begin at 4:00 p.m. Central Standard Time (5:00 p.m. eastern time).This call is being webcast by Thomson/CCBN and can be accessed at Rochester Medical's website at www.rocm.com. To listen live to the conference call via telephone, call:

Domestic: 888.680.0878, password 51116905

International: 617.213.4855, password 51116905

Pre Registration:

https://www.theconferencingservice.com/prereg/key.process?key=PJPA8VBMG

Replay will be available for seven days at www.rocm.com or via telephone at:

Domestic: 888-286-8010, password 44623326

International: 617-801-6888, password 44623326

The webcast is also being distributed through the Thomson StreetEvents Network to both institutional and individual investors. Individual investors can listen to the call at www.fulldisclosure.com, Thomson/CCBN's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson's password-protected event management site, StreetEvents (www.streetevents.com).

Rochester Medical Corporation develops, manufactures, and markets disposable medical catheters and devices for urological and continence care applications. The Company markets under its own Rochester Medical(R) brand and under existing private label arrangements.

For further information, please contact Anthony J. Conway, President and Chief Executive Officer of Rochester Medical Corporation at (507) 533-9600. More information about Rochester Medical is available on its website at http://www.rocm.com.

    ROCHESTER MEDICAL CORPORATION
    Reconciliation of Reported GAAP Net Income to Non-GAAP Net Income
    For the Three months ended
    December 31, 2008


                                                          (unaudited)
                                                       Three months ended
                                                          December 31,
                                                          ------------
                                                          2008       2007
                                                          ----       ----

    GAAP Net Income as Reported                        $54,000   $272,000
                                                       =======   ========

    Diluted EPS as Reported                                 $-      $0.02
                                                            ==      =====


    Adjustments for recurring non-cash expenses:
       Intangible Amortization (1)                     163,000    163,000
       FAS 123R Compensation Expense (2)               265,000    251,000
                                                       -------    -------
    Subtotal                                           428,000    414,000


    Non-GAAP Net Income                               $482,000   $686,000
                                                      ========   ========

    Non-GAAP Diluted EPS                                 $0.04      $0.05
                                                         =====      =====

    Weighted Average Shares - Diluted               12,697,645 12,587,229


     (1) Amortization of the intangibles acquired in June 2006 asset
         acquisition from Coloplast AS and Mentor Corporation.  Management
         believes these assets are appreciating. This adjustment adds back
         amortization expense for the three months ended December 31, 2008
         and 2007 related to certain intangibles.
     (2) Compensation expense mandated by SFAS 123R.  This adjustment adds
         back the compensation expense recorded when stock options are
         granted to employees and directors for the three months ended
         December 31, 2008 and 2007.



    Rochester Medical Corporation
    Press Release - F09 First Quarter


                     Condensed Balance Sheets

                                      (unaudited)
                                     December 31, September 30,
                                           2008          2008
                                           ----          ----

                 Assets

      Current Assets
        Cash and equivalents         $10,247,030    $8,508,000
        Marketable securities         25,486,714    28,493,648
        Accounts receivable            4,663,966     6,009,023
        Inventories                    8,504,445     8,745,873
        Prepaid expenses and other
         assets                        1,083,509     1,110,291
        Deferred income tax asset      1,712,785     1,143,931
                                       ---------     ---------

          Total current assets        51,698,449    54,010,766

      Property and equipment, net      9,827,631     9,883,329
      Deferred income tax asset          864,982       831,299
      Patents, net                       232,313       227,358
      Intangible assets, net           6,337,719     6,860,213
      Goodwill                         4,244,848     5,169,661
                                       ---------     ---------

      Total Assets                   $73,205,942   $76,982,626
                                     ===========   ===========

     Liabilities and Stockholders' Equity

      Current liabilities:
        Accounts payable              $1,476,055    $2,127,470
        Accrued expenses               1,015,779     1,170,654
        Short-term debt                1,953,004     1,940,292
                                       ---------     ---------

          Total current liabilities    4,444,838     5,238,416

      Long-term liabilities
        Other long term liabilities      239,496       239,496
        Long-term debt                 3,531,684     3,806,185
                                       ---------     ---------

          Total long term
           liabilities                 3,771,180     4,045,681

      Stockholders' equity            64,989,924    67,698,529
                                      ----------    ----------

      Total Liabilities and
       Stockholder Equity            $73,205,942   $76,982,626
                                     ===========   ===========



    Rochester Medical Corporation
    Press Release - F09 First Quarter


                Summary Statements Of Operations

                                             (unaudited)
                                         Three months ended
                                            December 31,
                                            ------------
                                          2008        2007
                                          ----        ----


    Sales                            $8,436,084  $8,223,288

    Cost of sales                     4,511,171   4,082,485
                                      ---------   ---------

    Gross profit                      3,924,913   4,140,803
      Gross profit %                         47%         50%

    Costs and expense:
      Marketing and selling           2,566,262   2,224,365
      Research and development          317,660     228,943
      General and administrative      1,365,757   1,615,118
                                      ---------   ---------

    Total operating expenses          4,249,679   4,068,426
                                      ---------   ---------

    Income (loss) from operations      (324,766)     72,377

    Other income (expense)
      Interest income                   167,272     453,340
      Interest expense                  (83,774)   (149,489)
      Other income                      200,442           -
                                        -------         ---

    Net income (loss) before income
     taxes                              (40,826)    376,228

    Income tax expense (benefit)        (94,451)    104,674
                                        -------     -------

    Net income                          $53,625    $271,554
                                        =======    ========

    Earnings per common share -
     Basic                                   $-       $0.02
                                            ===       =====

    Earnings per common share -
     Diluted                                 $-       $0.02
                                            ===       =====

    Weighted Average Shares:
      Basic                          11,980,875  11,730,234
                                     ==========  ==========

    Weighted Average Shares:
      Diluted                        12,697,645  12,587,229
                                     ==========  ==========





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