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

idien increased 177% to $502,000.

Gross margin for the second quarter of fiscal 2013 was 53.2%, primarily attributable to an unfavorable mix of low and high margin product deliveries in addition to the $188,000 amount due to Puricore International Limited under the terms of our contract. Operating expenses for the second fiscal quarter increased 16%, as the Company continued to invest in expanding its sales, marketing and customer support capabilities.

For the second quarter of fiscal year 2013, the Company reported a net loss of $(654,000), or $(0.09) per diluted share, compared to net income of $1.0 million, or $0.15 per diluted share, in the second quarter of 2012, which included income from discontinued operations of $792,000 for the sale of the Company's Laboratory and Forensic Safety Products Business in October 2011.

Six Months 2012 Financial Results:

Net sales increased 19% to $8.0 million for the six months ended December 31, 2012 from $6.8 million in the six months ended December 31, 2011. BoneScalpel revenues for the six months increased 99% to $3.7 million compared to $1.9 million in the comparable quarter of fiscal 2012. BoneScalpel units sold/placed for the six months were 90. SonicOne revenues increased 82% to $1.0 million compared to $564,199 in the six-month period of the prior year. SonicOne units sold/placed for the six months were 27. SonaStar revenues were $2.6 million comparable to six-month 2012 revenue. SonaStar units sold/placed for the six-months were 34.The number of BoneScalpel consumables sold increased 110% to 17,818 units for the six months ending December 31, 2012 and SonicOne consumables increased 20.6% to 6,138 units.

As expected, other revenue, which includes legacy products Autosonix and Lysonix sold by outside distribution partners, decreased 60% as these late stage products approach end-of-life. Excluding all other revenue, BoneScalpel, SonicOne and SonaStar revenue increased 46% for the six
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SOURCE Misonix, Inc.
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