Rochester Medical Reports Third Quart... ( STEWARTVILLE Minn. ...)

Rochester Medical Reports Third Quarter Results

Date:7/30/2009

STEWARTVILLE, Minn., July 30 /PRNewswire-FirstCall/ -- Rochester Medical Corporation (Nasdaq: ROCM) today announced operating results for its third quarter ended June 30, 2009.

The Company reported sales of $8,908,000 for the current quarter compared to $8,241,000 for the third quarter of last year. The Company also reported net loss of $77,000 or ($.01) per diluted share for the quarter compared to net income of $312,000 or $.02 per diluted share for the same period of last year.

The approximate 8% increase in sales (18% on a constant currency basis) resulted from a 42% increase in Private Label Sales (42% increase on a constant currency basis), partially offset by a 4% decrease in Rochester Medical Branded Sales (8% increase 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 third quarter of 2009 the U.S. dollar was significantly stronger versus the pound sterling, thus negatively affecting Rochester Medical 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 was $245,000 or $.02 per diluted share compared to Non-GAAP Net Income of $636,000 or $.05 per diluted share for the third quarter of last year. The decrease for the current quarter on a Non-GAAP basis is primarily attributable to a tax benefit of $654,000 taken in the third quarter of last year.

Regarding today's announcement, Rochester Medical's CEO and President Anthony J. Conway said, "Once again, excluding exchange rate influenc
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