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Uroplasty Reports First Fiscal Quarter Results
Date:8/3/2009

MINNEAPOLIS, Aug. 3 /PRNewswire-FirstCall/ -- Uroplasty, Inc. (NYSE Amex: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today reported financial results for the first fiscal quarter ended June 30, 2009.

"Our team is successfully executing the strategy we communicated at the beginning of the fiscal year of growing U.S. Macroplastique sales and accumulating the clinical data for seeking a unique CPT code for Urgent PC((R)) treatments," said David Kaysen, President & CEO. "While our fiscal first quarter financial performance is below year-ago results, we are encouraged by our U.S. Macroplastique sales that have doubled from last year's fiscal first quarter. Our European Macroplastique sales were impacted by a recently resolved distributor over-stock issue, change in a distributor in a key market, and a new competitive product entry we noted earlier this year. At the same time, we have been managing expenses to conserve cash while investing in R&D, namely the SUmiT clinical study."

Fiscal First Quarter Results for the Period Ended June 30, 2009

Net sales for the three months ended June 30, 2009 were $2.8 million versus $4.5 million for the same period a year ago.

Sales to customers in the U.S. during the three months ended June 30, 2009 totaled $1.5 million, representing a 34% decrease, over net sales of $2.2 million for the three months ended June 30, 2008. Sales of our Urgent PC of $1.0 million declined from $2.0 million in the year-ago quarter. The trend in decline of our Urgent PC sales over corresponding year-ago periods began in the second half of fiscal 2009 due to reimbursement related issues. Partially offsetting this decline was a
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SOURCE Uroplasty, Inc.
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