- Macroplastique(R) FY 2009 U.S. Sales Up 191% -
- Total Net Sales in Line with Previous Guidance -
- Conference Call to be Held Today at 3:30 pm Central Time -
MINNEAPOLIS, June 4 /PRNewswire-FirstCall/ -- Uroplasty, Inc. (Amex: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today reported financial results for the fourth quarter and full year ended March 31, 2009. Net sales of $2.9 million in the fourth fiscal quarter and $14.7 million for the fiscal year were in line with management's previous guidance.
"Our fourth quarter and full year results reflect the challenging environment for our Urgent PC(R) system due to insurance reimbursement uncertainties in the U.S. market," said David Kaysen, President and CEO. "While we experienced a significant decline in our fourth quarter net sales, as compared to last year, and expect our operating environment for Urgent PC sales in the U.S. to remain difficult during fiscal 2010, we are beginning to see signs that reinforce our optimism about our long-term future. For example, in April at the American Urology Association Annual Meeting we generated a large number of high-quality leads. At the same time, several doctors who were previous Urgent PC customers told us they were slowly taking steps to rebuild their Urgent PC business. Additionally, we've learned Aetna recently renewed coverage of Urgent PC procedures. Finally, results for the first two months of the new fiscal year suggest Urgent PC sales in certain geographies here in the U.S. may be stabilizing.
"A major part of our strategy to expand and support third-party reimbursement coverage of Urgent PC treatment is the SUmiT clinical study, which we announced in October 2008," adde
|SOURCE Uroplasty, Inc.|
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