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Rochester Medical Reports Record Fourth Quarter Sales and Record Year
Date:11/15/2007

STEWARTVILLE, Minn., Nov. 15 /PRNewswire-FirstCall/ -- Rochester Medical Corporation (Nasdaq: ROCM) today announced operating results for its fourth quarter and year ending September 30, 2007.

The Company reported 23% sales growth with record sales of $8,437,000 for the current quarter compared to $6,826,000 for the fourth quarter of last year, resulting from increases in both Rochester Medical Brand Sales and Private Label sales. It reported net income of $733,000 or $.06 per diluted share compared to a net income of $906,000 or $.08 per diluted share for the fourth quarter of last year. Net income excluding stock option expense and expense for amortization of intangibles, or "Non-GAAP Net Income" for the current quarter is $1,211,000 or $.10 per diluted share, compared to Non-GAAP Net Income of $1,237,000 or $.10 per diluted share for the fourth quarter of last year. To aid in comparison between the quarters the Company notes that fourth quarter 2006 included an $87,000 income tax expense while fourth quarter 2007 included a $480,000 income tax expense, resulting in a 30% increase in net income before income taxes for this fourth quarter as compared to last year's fourth quarter.

For the fiscal year ending September 30, 2007 the Company reported record sales of $32,663,000 compared to sales of $21,666,000 for the previous fiscal year. It reported net income for the year of $34,050,000 or $2.77 per diluted share compared to a net income of $1,959,000 of $.17 per diluted share for the previous year. Non-GAAP net income for fiscal year 2007 was $4,966,000 or $.40 per diluted share compared to $1,948,000 or $.17 per diluted share for fiscal 2006. The 155% increase was primarily due to increased gross profit
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SOURCE Rochester Medical Corporation
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