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Misonix, Inc. Announces First Quarter Fiscal Year 2014 Financial Results
Date:11/7/2013

FARMINGDALE, N.Y., Nov. 7, 2013 /PRNewswire/ -- Misonix, Inc. (NASDAQ: MSON), an international surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products for spine surgery, skull based surgery, neurosurgery, wound debridement, cosmetic surgery, laparoscopic surgery and other surgical applications, today announced financial results for the first quarter of fiscal year 2014 ended September 30, 2013.

Highlights for the quarter included:

  • Net sales for the quarter were $3.1 million compared to $4.6 million as the Company continues to transition to a unit consignment strategy to drive recurring revenue.
  • BoneScalpel™ units sold or placed totaled 36 world-wide in first quarter fiscal 2014.
  • BoneScalpel units placed or sold in the United States during the quarter totaled 15 compared to 7 in the first quarter of fiscal 2013; excluding sales to Aesculap.
  • BoneScalpel disposable sales in Latin America increased 110% in Q1 fiscal 2014.
  • U.S. BoneScalpel disposable revenue increased 74% driven by a 65% increase in disposable utilization; excluding Aesculap.
  • Across all businesses, recurring revenue for all products world-wide, for the quarter accounted for 53% of total sales during the quarter; compared to 40% in fiscal first quarter 2013.
  • Arrangements to roll-out BoneScalpel and SonaStar® in China are progressing after receiving regulatory approval.
  • First Quarter Fiscal 2014 Financial ResultsRevenue for the three months ended September 30, 2013 was $3.1 million, a 33% decrease when compared to $4.6 million for the same period in fiscal 2013.  Part of the decrease was attributable to the approximate $363,000 lower revenue from Aesculap
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    SOURCE Misonix, Inc.
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