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Misonix Reports Financial Results for First Half of Fiscal 2013
Date:2/7/2013

ed to net income of $136,000, or $0.02 per share, which included a gain of $712,000 for the sale of the Company's Laboratory and Forensic Safety Products Business in the first half of 2012.
  • Cash and cash equivalents totaled $6.9 million at December 31, 2012 with no long-term debt.
  • Increased the number of independent representatives from 19 to 42 in neurospine for the three months ended December 31, 2012.
  • Increased the number of independent representatives for wound care from 5 to 15 for the three months ended December 31, 2012.
  • Terminated the non-exclusive Aesculap Agreement as of December 31, 2012, which among other things should result in increased direct sales to customers at a higher margin.
  • Q2 2013 Financial Results:

    For the second quarter of fiscal 2013, revenue was $3.5 million, comparable to $3.6 million in the second quarter of 2012. BoneScalpel revenues for the quarter increased 33% to $1.6 million compared to $1.2 million in the comparable quarter of fiscal 2012. BoneScalpel units sold/placed for the quarter were 33. SonicOne revenues increased 70% to $528,249 compared to $309,812 in the second quarter last year. SonicOne units sold/placed for the quarter were 16. SonaStar revenues decreased 20% to $1.1 million compared to $1.3 in the second quarter last year. SonaStar units sold/placed for the quarter were 13. The number of BoneScalpel consumables sold increased 119% to 9,041 units for the quarter, SonicOne consumables sold increased 24% to 3,302 units, and SonaStar consumables sold decreased 40% to 1,985 units.

    As expected, other revenue, which includes legacy products Autosonix and Lysonix sold by outside distribution partners, decreased 59% as these late stage products approach end-of-life. Excluding all other revenue, BoneScalpel, SonicOne and SonaStar revenue increased 12% for the three months ended December 31, 2012.

    For the quarter, royalty income received predominantly from Cov
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    SOURCE Misonix, Inc.
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