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MGC Diagnostics Corporation Reports 2013 First Fiscal Quarter Operating Results
Date:3/5/2013

acquisition, and management of medical technology.

First quarter fiscal 2013 total revenues increased 9% to $7.0 million compared to $6.4 million in the fiscal 2012 first quarter. Domestic 2013 first quarter sales were $5.3 million, compared to $5.0 million in the 2012 first quarter, while international sales were $1.7 million, versus $1.4 million in last year's first quarter.  For the first quarter, Group Purchasing Organization ("GPO") sales increased 109% to $3.2 million, as compared to $1.5 million in the prior year's first quarter. GPO sales accounted for approximately 46% of total sales for the 2013 first quarter, compared to 24% in the 2012 first quarter.

First quarter equipment, supplies and accessories sales totaled $5.8 million, compared to $5.4 million during last year's first quarter. Service revenues for the first quarter totaled $1.2 million, compared to $1.1 million during last year's first quarter. The Attachment Rate, which reflects the percentage of Extended Service Contracts added at the point of sale to customer equipment purchases, was 17% for the first quarter of fiscal 2013. The attachment rate has steadily increased from the low single-digit level when the current management team was installed. The Company's "Real Time Diffusion" ("RTD") technology continues to do well, with 79% of new pulmonary device equipment sales during the quarter containing RTD capabilities.

Gross margin for the quarter was 54.5% compared to 55.5% in the 2012 first quarter.  Gross margin for equipment, supplies and accessories fell to 51.2% for the quarter, compared to 53.0% in the prior year's quarter, primarily as a result of product mix.  Gross margin for services increased to 70.8% for the quarter, compared to 68.4% for the prior year's quarter primarily as a result of improved pricing.

First quarter 2013 general and administrative expenses totaled $1.4 million versus $1.1 million in the comparable quarter last year. Sale
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SOURCE MGC Diagnostics Corporation
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